The median price of a home in metro Denver was $439,150 in May, down slightly from the previous month and up 2.13 percent from May of 2019.
The Denver Metro Association of Realtors also said in its latest monthly report that the 3,152 sales completed in May were down 19.71 percent from April and 48.86 percent from May of 2019 following weeks of restrictions on showings and other activities because of stay-at-home orders imposed to slow the spread of COVID-19. Denver’s stay-at-home orders, which began March 24, ended May 9, and the city has moved to a safer-at-home strategy.
While more people put their homes on the market compared to April, the 7,170 active listings at the end of this May were down nearly 20 percent over May of 2019. That low inventory helped keep prices up, except in the luxury market.
Jill Schafer, who chairs the realtor group’s market trends committee, said some of the 4.6 percent increase in sales over April could be attributed to sellers putting back on the market homes they had withdrawn when showings were stopped because of the coronavirus.