As reported by Matrix, the Denver Metro’s MLS data source, July was an indicator the market may be in a slight adjustment. The number of homes (single family and attached homes) available for sale peaked in July, with nearly 9,000 homes available. New single family home listings coming to the market during the month saw a month-over-month increase of 7%, or 6,019, while under contracts during July fell by 4%, and sold or closed single family homes fell by 3%. The average and median sold prices for single family homes each fell by 2%.
Similar numbers were experienced with attached homes (condos, townhomes). New listings were up 2%, while under contracts were down by 6%, solds were up however by 2%. The average and median prices were also both down by 2%.
I expect pricing and under contract/solds to continue similar trends throughout the remainder of the year.