DENVER METRO MARKET UPDATE: MAY 2018
Home prices in the Denver metro market continued to soar with the average and median single-family home price reaching $543,058 and $455,000 respectively. Homebuyer demand also remained strong due to the typical seasonal influx of properties on the market, however they were promptly pounced-on by waiting homebuyers.
In the Denver Metro market (including Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties), we also saw:
- 3,102 total single-family homes sold; down 3.51 percent from last month
- Average sold price in the single-family home market jumped to $543,058 (up 4.40 percent from last month)
- Median sold price in the single-family home market jumped to $455,000 (up 3.41 percent from last month)
- Average sold price in the condo market increased to $351,433 (up 0.40 percent from last month)
- Median sold price in the condo market increased to $297,000 (up 0.68 percent from last month)
- 5,160 active listings at the close of April, a steady seasonal increase as we head into what is traditionally the busiest real estate season
With all these increases, is Denver in a housing bubble? Altas broker, Eddie Reynolds, tackles this Frequently Asked Question in a recent video blog.