Comment on July inventory increase brings Denver housing market closer to a buyer’s market

July inventory increase brings Denver housing market closer to a buyer’s market

With a 68% increase in available inventory from July of last year, the close-price-to-list-price ratio is the lowest it’s been since July 2020. According to the July monthly real estate trends report from the Denver Metro Association of Realtors, the close-price-to-list price is 99%, down from 99.6% in June and 99.9% in July 2023. The median close price dipped slightly from $601,000 to $600,000, but prices continue to rise compared to the median close price of $590,000 last July. The number of active listings climbed 3.6% from 10,214 in June to 10,584 in July, up 68% from 6,299 in July 2023. July’s average number of active listings from 1985 to 2023 is 15,502.

 

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