Metro Denver experienced a record surge in active home and condo listings at the end of May, while home prices were mostly flat, according to a
While May’s percentage gain was a record, the number of listings would need to triple to approach the high mark reached in 2006 and would require another 63% gain to match the historical average for the month in records going back to 1985. “However, that doesn’t seem to be the case, as sellers have been not only stepping but jumping off the fence to enter the market for a variety of reasons,” she said.
The median price of a single-family home sold dropped 0.26% from April to $660,000. It is up 0.53% over the past year. The median price for condos and townhomes dropped 2.8% to $407,250 and that median is down nearly 4.2% over the past year.