Just a quick post showing some real estate statistics from last month in the Denver south metro area. This info comes to us from the South Metro Denver Realtor’s Association.
As you can see, our market is not as active as it was a year ago. Listings and sales are both down about 25% from May of 2022, and the median sales price has dropped by almost 4% to $590,000. At the same time, both days on the MLS and weeks of inventory have both increased.
One interesting takeaway I see in this data is that while the median sales price has dropped from a year ago, it is up by about 10% since January. To me, that means that buyers may not want to wait on the sidelines hoping for a large price correction. The limited inventory seems to be holding prices relatively steady. Of course, I don’t know what the future holds in terms of inflation, the economy, etc., so things may change next month.
Drop me a line if you want to talk about these numbers. Have a great week!
Thanks for reading. Remember, I don’t know you or your specific situation. Nothing in this article should be taken as advice specific to your situation. If you have any questions, though, please get in touch – you can find my contact form here. Also, feel free to sign up here for my monthly “Neighborhood News” newsletter for real estate information on your local area.