Metro Denver/Boulder- September 2022

Front Range – September 2022


Inventory has gained much more weight recently, with the number of homes for sale around 94% higher than last year. Homes are still selling in 20 days or less in most instances. However, sales prices are still trending upward with an average annual appreciation of 8% for single-family homes and attached at 4% for attached.


Don’t pull out the celebration confetti yet, though, because challenges remain for those jumping into this market. Demand is still facing a downward trend, with total sales down 30% and pending sales down 20% from last year.


This downward trend is most certainly attributed to the high jump in the interest rates has also trended slowly downward, with a dip most notably in June, but will they sink to those previously low rates in the 2-3% range? It seems unlikely, especially as inflation photo bombs the picture of our current real estate marketplace. Yet, there are times when you just must move, whether for a job or a family situation.

Case in point, take a look at the snapshot of August sales compared to last month. Those buyers could have twice the number of choices while securing prices 4% less than buyers shopping the month before. Additionally, some have wondered if paying all cash is the way to ensure a successful bid to purchase. Although cash sales are not a large enough percentage of sales to affect the residential market significantly, they are happening. These sales consist mainly of people selling in other regions of the country and choosing Colorado as their destination state. The greater number of them are more likely to occur in the fix-n-flip market rather than the standard residential sale market.


We continue to see nice gains in the front-range economy overall, which fuels the strong demand for housing. As a buyer or seller, your best course of action is to get in touch with me to gain the specific data for the sale or purchase you desire. Strategies in securing the home of your dreams are shifting, so let’s have a conversation and find out how those shifts can work most effectively in your favor.

Detached Single Family Year to Year
Aug ’21 Aug ’22 % change
Active Listings 2,469 5,298 114.58%
New Listings 4,300 3,694 -14.09%
Pending 4,278 3,465 -19.00%
Closed 4,269 2,944 -31.04%
Closed Price Median 580,000 645,000 11.21%
Closed Price Average 688,708 744,589 8.11%
Days on Market 10 20 100.00%
Months Supply of Inventory 1.58 3.05 93.04%
Average Percent of Original List Price 102.74% 99.16% -3.48%
Sales Volume 2,940,095,681 2,192,068,618 -25.44%
Month to Month
July ’22 Aug ’22 % change
Active Listings 5,650 5,298 -6.23%
New Listings 4,555 3,694 -18.90%
Pending 3,116 3,465 11.20%
Closed 3,010 2,944 -2.19%
Closed Price Median 650,000 645,000 -0.77%
Closed Price Average 781,631 744,589 -4.74%
Days on Market 13 20 53.85%
Months Supply of Inventory 3.39 3.05 -10.03%
Average Percent of Original List Price 100.73% 99.16% -1.56%
Sales Volume 2,352,708,351 2,192,068,618 -6.83%

Attached Year to Year
Aug ’21 Aug ’22 % change
Active Listings 1,113 1,641 47.44%
New Listings 1,818 1,476 -18.81%
Pending 1,755 1,371 -21.88%
Closed 1,779 1,277 -28.22%
Closed Price Median 371,000 400,000 7.82%
Closed Price Average 439,896 456,013 3.66%
Days on Market 14 15 7.14%
Months Supply of Inventory 1.64 2.44% -98.51%
Average Percent of Original List Price 101.98 99.98% -99.02%
Sales Volume 782,574,210 582,328,783 -25.59%
Month to Month
July ’22 Aug ’22 % change
Active Listings 1,711 1,641 -4.09%
New Listings 1,779 1,476 -17.03%
Pending 1,312 1,371 4.50%
Closed 1,269 1,277 0.63%
Closed Price Median 408,000 400,000 -1.96%
Closed Price Average 475,811 456,013 -4.16%
Days on Market 13 15 15.38%
Months Supply of Inventory 2.75% 2.44% -11.27%
Average Percent of Original List Price 101.01% 99.98% -1.02%
Sales Volume 603,803,848 582,328,783 -3.56%

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