INVENTORY OF ACTIVE LISTINGS STATEWIDE - JUNE
MARKET TRENDS
15,464
Housing Pipeline Surges Across Colorado in June
4.8%
15,126 12,947 -2.2%
-14.4%
5,813
5,830 APR 2020
MAY 2020 SINGLE FAMILY
JUNE 2020
5,178
4.3%
-9.3%
-23.9%
APR 2020
MAY 2020
JUNE 2020
TOWNHOUSE/CONDO
Pent-up demand drives second straight month of record-setting pending sales With pent-up demand and low inventory conditions prior to the COVID pandemic, the continued opening up of business and personal activities statewide created a surge of activity across Colorado’s housing markets resulting in new record highs for pending sales and driving the inventory of active listings to record or near record lows in many local markets, according to the latest monthly housing data from the Colorado Association of REALTORS® (CAR).
stayed flat from May to June but is up 4.8 percent from June 2019. Looking at the statewide median price environment, single-family homes jumped 2.4 percent from May to June and are up 4.4 percent over a year prior at $425,000. Condo/ townhomes hit a statewide median price of $317,950 in June, up 2.6 percent from a year prior. “If you were one of those anticipating a housing crisis due to a worldwide pandemic, our most recent data would indicate that we are far from that becoming a reality. With inventory still at record lows and buyer activity strong, we see houses come on the market as new listings only to be immediately gobbled up, with no ability to build up any type of inventory. The metro Denver housing market experienced a 3.5 percent decline in new listings in June compared to June 2019 and overall inventory of homes, including single-family, townhome/ condos dipped a dramatic 40.7 percent from a year prior to just 9,137 properties, compared to last June when there were 15,407 homes available for sale. If you’re looking for further confirmation that a housing crisis is not in our immediate future, then look no further than the under contract/pending numbers, up 32.3% compared to last June” said Denver-area REALTOR® Karen Levine.
June delivered a second straight month of record highs for pending/under contract properties in both the sevencounty Denver metro region (7,122 single-family and 2,506 townhome/condos) and across the state (11,605 single-family and 3,458 townhome/condo) since CAR began tracking the data more than a decade ago. Those numbers all reflect a more than 30 percent increase from June 2019. Sold listings also spiked from May to June, up approximately 64 percent in both the Denver metro area and statewide. Despite another solid month of new listings, the surge in buyer activity has significantly impacted the pipeline and the inventory of active listings in the Denver metro area, as well as statewide. Active listings for single-family homes were down nearly 19 percent from May to June 2019 however, they are down more than 45 percent year-over-year in the Denver metro area. Statewide, single-family home active listings were down 14.4 percent from May to June and are down almost 39 percent from a year ago.
Taking a look at some of the state’s local market conditions, Colorado Association of REALTORS® market trends spokespersons provided the following assessments:
The combination of factors pushed the median sales price for single-family and townhome/condos to record or near record highs. In the Denver metro area, the median price of a singlefamily home hit $465,000, up 1.6 percent from May to June and up 3.3 percent from a year prior. The $325,000 median price of a condo/townhome in the seven-county Denver area
AURORA “It’s summertime and things are hot. Not just the temperature, but home sales as well. Regardless of the zip code, Aurora’s housing inventory is down about 50 percent compared to June 2019 while Centennial is seeing an inventory reduction
8
