July Market Stats

Slowing Down for Summer (Just a Little)

You know that feeling when Denver’s summer heat makes us all slow down a bit? The housing market felt a little of that in July. Things are still moving, but with a more relaxed and balanced pace, much like an evening stroll through the neighborhood after a cookout.

Year-over-Year Snapshot

Compared to last July, buyers have a bit more room to breathe. Inventory is up, homes are sitting on the market a little longer (a median of 26 days, which is nine more than last year), and the median closed-to-original list price ratio has eased to 97.3%. That means there’s more negotiating room and less rush to make a quick offer

For sellers, the story is still positive. New listings are up 3%, pending sales have climbed 6%, and while closed sales dipped 2%, we’re still seeing plenty of activity. The median sale price is now $590,000 (just 2% lower than last summer) showing buyers are still active, but being thoughtful about value. In other words: strategic pricing is your best friend right now.

Month-to-Month Shifts

From June to July, we saw the typical seasonal cool-down: new listings down 7%, pending sales off by 1%, and closed sales slipping 7%. Homes are also spending about a week longer on the market. For buyers, this could mean a little more negotiating power. For sellers, it’s a reminder that good preparation and smart pricing can make all the difference.

Rental Market Highlights

Rentals are still hot! Leased properties jumped 19% over last year, even as the median leased price dipped 3%. Renters are taking their time (median 24 days on the market), and we’re noticing more interest in smaller, efficient spaces — price per bedroom is down 2%, but price per square foot is up 4%.

Bottom line:

Whether you’re buying, selling, or renting, July showed us that the Denver market is still buzzing, just with a touch more breathing room. Summer’s the perfect time to explore your options without the springtime frenzy.

Get in touch, and we’ll be happy to show you around the current market this summer!