Saturday, July 18, 2020

Denver Real Estate Market Update July 2020

Denver Real Estate Market Update July 2020!

Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado! Check us out:

I thought you might like the latest market update to review, see attached Denver Real Estate Market Stats and update below.
The Denver Metro Real Estate Market has been on a solid V-Shaped Recovery since the beginning of May after the Quarantine Restrictions due to COVID-19!
  • Active Listing Inventory is down 33% compared to this time last year, and this lack of Inventory with historically low interest rates have created a Strong Buyer demand. 
  • Pending Sales are up 27% compared to last year, however Average Home Prices are only up 2% compared to last year at this time.
This is a wonderful time to take advantage of Historically Low Mortgage Interest Rates!
A 100 Degree day in July would normally cause a slowing market through the rest of the Summer, but Buyer Demand is continuing to look for good fresh Inventory. 
  • There were 6,383 active listings at the end of June, -10.98% less than May and -32.95%  less than the previous year when there were 9,520.
This very positive Market, and the continued strong demand for Buyers will continue throughout the rest of the Summer!
Please let me know if you have any questions or would like any more specific information, feel free to forward our market update to everyone you know and spread the word that real estate is open for business!