The median sale price of a metro Denver home was $420,000 last month, up less than 1 percent over the previous month and about 5.8 percent over January of 2019, according to the latest monthly market trends report from the Denver Metro Association of Realtors.
Over the last decade, while median prices have kept rising, the pace has slowed. The real estate group recorded a 9.4 percent increase in the median single-family home price from January of 2016 to January of 2017 and a 10.1 percent increase from 2017 to 2018. From 2018 to last year increase was just 3 percent.
This January started off with 4,853 new listings coming onto the market, nearly double the December inventory and following two months of tight supply. But the month ended with 4,941 active listings, about 2 percent below from December, because, the industry group said, homebuyers placed 43 percent more homes in “pending” status compared to December. Buyers have been showing some hesitancy.
The Denver Metro Association of Realtors report covers 11 counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park.