Check out our market updates in other Colorado Markets:
Colorado Springs Real Estate Market Updates- June 2023
Northern Colorado Real Estate Market Updates – June 2023
Denver Market Stats and Observations for June 2023
Active Listings
- 6,070 June ’23 vs 6,060 Jun ’22 – no change
- 6,070 June ’23 vs 5,180 May ’23 – up +16%
- We’d expect a seasonal increase in the number of active homes this time of year.
- Listing count improved for condos (+22%) and dropped for detached (-6%).
- Average number of active listings (1985-2022) is 15,500.
- This time last year was our lowest June inventory ever, at 3,100. Tell your buyers we have twice as many to chose from now as we did this time last year!
New Listings
- 5,625 June ’23 vs 7,730 Jun ’22 – down 27%
- 5,625 June ’23 vs 5,175 May ’23 – up +9%
- We’d expect a seasonal increase in the number of new listings this time of year.
Pending (UC)
- 4,390 June ’23 vs 4,575 Jun ’22 – down 4%
- 4,390 June ’23 vs 4,150 May ’23 – up +6%
- We’d expect a seasonal increase in the number of pending this time of year.
Closed Count
- 4,100 June ’23 vs 5,475 Jun ’22 – down 25%.
- This year over year (Y/Y) decline is consistent with what we’ve seen all year.
- 4,100 June ’23 vs 4,400 May ’23 – down 7%
- Often, May and July are our best months of the year and June is a little less. The June vs May ’23 change is pretty like the seasonal trend.
Average Price
- $714K June ’23 vs $716K Jun ’22 – down -0.3%
- $714K June ’23 vs $695K May ’23 – up +2.5%
- We’d expect a seasonal increase in the number of pending this time of year.
- Prices are stable Y/Y after some declines earlier this year.
Marketing Time (DOM)
- 23 June ’23 vs 11 Jun ‘22 – up +110%
- 23 June ’23 vs 22 May ’23 – up +5%
- The month-on-month slight increase is exactly what we’d expect from the long-term seasonal trend.
- The Y/Y change is consistent with what we’ve seen most of this year.
Discounts
- Homes, on average, are selling at asking price.
- There is much less bidding war activity.
- Homes that need work are sitting on the market longer than you’d historically expect.
Denver Housing Trends for June 2023
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