While six months’ worth of available homes on a local real estate market is considered healthy, Denver is certainly a cause for concern when it comes to prospective homeowners, as the existing inventory for a few months now has been stuck around seven weeks’ worth. This June compared to June 2013, the Denver metro and Denver suburbs saw a three percent decrease in new home listings, as well as a 4 percent drop in homes from May to June.
Active listings saw a bit of a month-over-month jump, growing 9 percent, from 8,401 in May 2014 to 9,163 in June 2014. But June listings were still down 7 percent compared to June 2013, which had 9,823 active listings. At this point in time, moving to Denver requires a bit of patience and tact with the listings, because with multiple offers on a small amount of homes there is a large amount of frustration for prospective buyers.
Home sales continued to rise, with sold properties rising 9 percent in June compared to the previous month, at 5,854 for June compared to 5,349 in May. The year-over-year increase was only up slightly, at 1 percent compare to June 2013. The average sales price for June was $335,275.