Colorado Association of Realtors says median price for a single-family home in Denver was $510,000 in July

For lower prices, look outside Denver
2 min. read
Stapleton residences as seen from a hill in Central Park. (Kevin J. Beaty/Denverite)

The median price for a single-family home in Denver was $510,000 in July, up about 6 percent over last year.

But in a sign of a shift -- however slight -- toward a buyers' market, sellers were getting 99.3 percent of what they were asking, compared to 100.3 percent last year, according to the latest monthly data report released Monday by the Colorado Association of Realtors.

In a statement accompanying the report, Denver-area realtor Matthew Leprino said the local market  "appears to have hit an interesting pivot point."

Leprino said while prices were increasing, it was at a slower rate.

Denver's $510,000 median price was well above the $450,000 median for all single-family homes sold in July in Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson counties. The median metro Denver sale price was unchanged from June and 3.4 percent higher than last July.

In Aurora, which has areas in Adams, Arapahoe and Douglas counties, the median price for a single-family home was $395,000. In Centennial, in Arapahoe County, it was $480,000.

The Denver Metro Association of Realtors defines metro Denver slightly differently -- adding Clear Creek, Elbert, Gilpin and Park to the Colorado Association of Realtors's seven counties. The metro Denver group's report for July put the median sale price at nearly $470,000, up less than 1 percent from June and up 4.42 percent from the previous July.

In a statement, realtor Jill Schafer said metro Denver sellers were reducing what they were asking but still getting close to the listed price.

"I've heard from homebuyers that they are not feeling the need to run out and see a property on the first day and, if they wait a couple weeks instead, prices often come down," added Schafer, who chairs the market trends committee of the Denver Metro Association of Realtors.

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