June was a record-setting month for 2016!
We set yearly records for active listings, new listings, days on market, average sold price, median sold price, number sold, and sold volume. Since 2005, Denver has seen an average increase in listings of 4.2% from May to June. This year, however, listings increased 24.4% - a big jump compared to the past 11 years!
Since 1985, June represents the high water mark for active listings 19% of the time, compared to July and August, which represent the high water mark 26% of the time. We are starting to see signs of a much needed market correction and a market plateau may be on the horizon. Denver County is the #1 county in Colorado – and #7 county in the nation – for inbound migration.