News

June 2020 Market Report

Hello family and friends!

Before I go over the Denver-Metro real estate statistics for June, I want to remind you that I am here for YOU and happy to help serve all of your needs. Please, don’t hesitate to reach out.

Welcome to the busy season! The Denver real estate market is hot this summer. This is likely due to the effects of COVID-19 causing a delay in the market peak in spring. It’s still running full steam ahead. If you’re a buyer or seller, you’ll notice there are still multiple offers on homes and sellers are getting max dollar on their sales.

Here are the stats for you:

  • Average price on the market is $529,866
  • We are appreciating .5%. I’ll share my take on the why of this in the video.
  • Inventory is at 1.5 months of supply
  • As our prices peak, we’re also seeing the lowest inventory we’ve seen in over 10 years during this season. We’re seeing about half of the normal inventory.

Wow! As you can see, the market peak is NOW! I would project that because there is so little inventory our prices will be holding for a bit longer in 2020. This means it is the ideal time for Sellers to consider making their move.

I hope you find this information of value and again, please reach out if you have questions or are considering buying or selling a home. I would love to chat with you.

Again, please stay safe and take care of your loved ones and those who need help.

Thanks and God Bless,
Shane Severson