The Denver Metro May 2022 Market Stats are In

Average Single Family Home Price: $800,964 up 16.1% since May 2021

Average Days on Market: 9

While the market is cooling, overall Colorado is very healthy. We are in the lowest four states for number of foreclosures. Many neighborhoods are seeing fewer buyers and more days on market. Buyers have much better chances of getting into homes at or under asking now, with more flexible terms. This is great news! Sellers are still selling, but it is not the frenzy that it was, and they need to price right & market creatively. Talk to us to guide you.

May numbers point to a minor cooldown of the Greater Denver Market, however, the average close price was up when looking at year-over-year. The median sales price landed at $668,000 for May which is just a slight 1.6% decrease when compared to April. 

Supply declined slightly but demand remains robust. Metro Denver remains a desirable place to live, and buyers might feel some (much needed) relief with average days in MLS ticking up 12.5% when compared to last month to 9 days.

Quick Take:

Days on market went up slightly to an average of 9 days. While this is a slight increase compared to last month, it is still below 2021 and prior years.

Sellers are still in a strong position but should plan accordingly. Buyers may finally feel a bit of relief and, despite rates, may have a strong opportunity.