Metro Denver Snapshot - June 20th through July 1st
The Market in Numbers
13,425 Active Units
↑ 1.5% Week over Week
1,224 Closed Units
↑ 63.9% Week over Week
2.9 Months of Supply
↓ 12.6% Week over Week
1,056 Pending Units
↑ 16.1% Week over Week
30 Median Days on Market (DOM)
↑ 25% Week over Week
14,825 Total Showings
↓ 2.7% Week over Week
Numbers the previous weekend were encouraging as we saw a bump of activity in the market; this is not uncommon to see the week prior to a holiday. The combination of month-end closings significantly improved the odds of selling- a welcomed shift after the slower pace we saw in the weekend before.
Independence Day tends to be one of the slowest weekends of the year. With the holiday falling on a Friday, many people left town early for celebrations, so do not be surprised by a noticeable slowdown on next week's report. Last year, the odds of selling dropped by 10% over the Fourth of July weekend, and we saw about a 30% decline in both showings and pending contracts.
Inventory levels increased with a slight uptick in new active listings week over week. While supply is still notably higher compared to the same time last year, the year-over-year growth gap continues to shrink. Listings in “coming soon” status dropped sharply compared to the previous week and remain well below where we were a year ago.
Buyer activity showed a meaningful rebound last week, with a noticeable increase in the number of properties going under contract — both compared to the previous week and the same period last year. After a brief uptick the week before, the predictive month’s supply of inventory edged back down. While still elevated on a year-over-year basis, it’s a clear step down from last week’s high.
The odds of selling in the next 30 days rebounded last week, reaching levels we haven’t seen since mid-May. Although still slightly below where we were at this time last year, the year-over-year gap continues to shrink. Elevated inventory and cautious buyer behavior remain part of the equation, but the recent improvement is a noteworthy sign of momentum returning to the market.
Showings saw a slight dip compared to the previous week, but they remain higher than this time last year — a sign that today’s buyers are more serious and intentional. Encouragingly, it took fewer showings on average for homes to go under contract, a positive indicator heading into the holiday weekend. That said, median days on market edged up, offering a reminder to sellers: patience and competitive pricing are still key in this evolving market.
The share of homes that experienced price reductions increased again heading into the holiday. More than half of homes that went under contract last week had at least one price reduction, a higher rate than the same time last year. The size of those reductions also grew slightly, showing that motivated sellers are adjusting to find the market.
As we head into one of the slowest weekends of the year, the market continues to show signs of subtle but meaningful movement. While the Fourth of July holiday may temporarily dampen activity, the broader trends — improving odds of selling, steady buyer demand, and a narrowing inventory gap — point to a market that’s gradually regaining its footing. Sellers should stay flexible and realistic, while buyers may find new opportunities amid the shifting dynamics. We’ll be watching closely to see how the post-holiday period shapes up, and whether this momentum carries into mid-July. Whether you're buying or selling, I'm here to guide you in developing the best strategy tailored to today’s market conditions.
~ Claire ◡̈
Source: First American Title, data supplied by REcolorado®