Greater Denver Area Real Estate Market Report from June 2022

 
 

As month-end active inventory skyrockets, the Denver Metro hit a new record for the average price of attached properties at $504,193.

At the end of June 2021, Denver Metro ended with 3,122 properties on the market. It has now almost doubled that amount over the year, with a total of 6,057 properties currently sitting on the market.

Buyers are feeling the woes of the economy. Many first-time homebuyers who were initially pre-approved towards the beginning of the year with a specific interest rate decided to wait to buy until it wasn’t as competitive. But, when they restarted their search in May, they found that it was with an increased interest rate.

On the other hand, many sellers may have closed on a home earlier in the spring, meaning they went under contract with a certain interest rate, but decided to wait to sell their own home until they moved into their new one. And the consequence they saw is longer time on the market and potentially slight price reductions. 

“The increase in supply will eventually impact pricing, days in the MLS and the relationship between buyers and sellers, which have negatively impacted buyers’ purchasing power,” commented Andrew Abrams, Chair of the DMAR Market Trends Committee and Metro Denver Realtor®. “The stock market, inflation and cryptocurrency have all taken a hit in the last few months. Housing will eventually be a victim to the economy as a whole, but just how much is yet to be seen. It is realistic to see days in the MLS, currently sitting at a historic low of four, increase in the coming months.”

As we enter the second half of 2022, there is less competiion for those getting into the market, but the cost of waiting has been significant for many first-time homebuyers. Interest rates are perceived to be high at the moment but may very easily continue to increase if inflation doesn’t decrease at a more rapid pace. With the 65.85 percent increase in inventory compared to the previous month, Denver Metro should expect more balance and multiple months with prices not going up. This is reflected in months-of-inventory, which is now at 1.19, the first time it has been above one in months since June of 2020. 

Our monthly report also includes statistics and analyses in its supplemental “Luxury Market Report” (properties sold for $1 million or greater), “Signature Market Report” (properties sold between $750,000 and $999,999), “Premier Market Report” (properties sold between $500,000 and $749,999), and “Classic Market” (properties sold between $300,000 and $499,999). 

Akin to the overall market, the Luxury Market homes saw an adjustment as the Denver Metro hit the midway point of 2022. While all other pricing segments saw double-digit increases in new listings, there were more new listings in June for the Luxury Market but only a 6.82 percent increase. 

The number of pending sales of detached homes dropped 21.87 percent month-over-month. Attached home pending sales were down 42.86 percent from May but closed sales increased 11.11 percent month over month. The amount buyers paid over the listing price also dropped from 106.85 percent in May to 103.71 percent in June. That means, on average, they still paid above the list price and more per square foot. That is the highest above asking price of all of the market segments. 

“Luxury attached home sales were boosted by the completed sales of nine of 10 units at 1955 3rd Street in Boulder. Odonata is a boutique community with the nine units closing between, $2,980,390 and $3,542,863,” said Jill Schafer, DMAR Market Trends Committee member and Metro Denver Realtor®. “Overall, the sales volume of luxury homes increased significantly over $5 billion year-to-date for the first time at the midway point of the year. That’s a lot of luxury home sales, especially considering that two years ago at this time sales volume of luxury homes was only about $1.58 billion.”

Those who sold homes above $1 million didn’t have to wait long for an offer as the days in the MLS remained at an average of four for detached homes but inched up a day to five for attached homes. The average total price per square foot for detached luxury homes was up to $379 year-to-date, an 11.80 percent increase from 2021. 

Download the report

Thank you to our partners at the Denver Metro Association of Realtors for compiling this information.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Just Listed: Lakewood Mid-Century Home with Detached Studio

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This stunning, wonderfully maintained mid-century home is the perfect place to relax, entertain, and enjoy all the things you love about living in Colorado!

Built in 1964, this pristine home has been lovingly cared for and upgraded with a designer's eye to detail, style and comfort. Your home lives large with two living rooms, spacious bedrooms, and a dreamy outdoor space. A private upstairs deck + a garden level patio give you plenty of room to enjoy your backyard oasis, featuring tons of privacy, mature trees, and lush gardens. To top it off, your home has one additional amazing unique feature--a fully permitted, cooled/heated (2022!) and wonderfully appointed huge 200 sq foot art studio or home office. Custom counters and new LVP floors offer tons of options as an art studio, home office, she-shed or workshop. Minutes from Red Rocks, tons of parks including Bear Creek State Park and Greenbelt, and great shopping/restaurants, your next adventure is never far. You’re going to LOVE living here!

Listed by Doug Yetman for West + Main Homes. Please contact Doug for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(720) 903-2912
hello@westandmainhomes.com

Presented by:
Doug Yetman
(720) 301-4293
doug@westandmainhomes.com

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This Weekend: Denver Metro Open Houses for July 1st-3rd

 
 

Our agents are hosting Open Houses this weekend all over the Metro Denver. Please reach out to the listing agent for information on times and more information on the listing!

 
 

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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4th of July Fireworks + Festivities Around Colorado

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From fireworks to parades, communities across Colorado are preparing to celebrate the Fourth of July this weekend.

Read on for a list of weekend celebrations, and keep in mind that all events are weather permitting and may change. Additionally, many cities are forgoing fireworks this year due to fire danger. However, the festivities live on!

All of the following events are free, all-ages, open to the public and weather-permitting, unless otherwise noted. As a rule of thumb, be sure to leave your pets, booze, drones and weapons at home, and don’t forget to bring lawn chairs and blankets. Also keep a mask handy for free shuttles, bathrooms and other indoor areas.

Arvada

Independence Day fireworks return to Stenger Sports Complex (entry at West 58th Avenue and Oak Street) on Monday, July 4, once again minus any refreshments or performances. Gates open at 7 p.m. and West 58th Avenue will shut down to traffic beginning at 8 p.m. Handicapped parking is available in Stenger’s northeast lot. arvadafestivals.com

Aurora

The Aurora Municipal Center will host the city’s Fourth of July Spectacular display, which takes place around 9:30 p.m. from Bicentennial Park on July 4. Returning, after taking last year off, are food trucks and nearly four hours of live music. The fireworks display lasts 30 minutes. 15151 E. Alameda Parkway. auroragov.org

Berthoud

Berthoud’s Third of July festival will take place 4-8 p.m. on Sunday, July 3, at the new Berthoud Recreation Center. Live music, inflatables slides, a beer garden, face painting, lawn games and more, with fireworks at 9 p.m. 1000 Berthoud Parkway. berthoud.org

Brighton

The city of Brighton’s Fourth of July celebration takes over Carmichael Park, 650 E. Southern St., starting at 5 p.m. on July 4. The evening will feature live entertainment, with DJ Tidal Wave and Sisters of Rock, as well as food, kid’s entertainment and more. The fireworks display will follow at the end of the live performances. brightonco.gov

The sprawling Stars & Stripes event also return the day before that, on Sunday, July 3, from 4-10 p.m. at Riverdale Regional Park, 9755 Henderson Rd. in Brighton. Food and beer vendors will begin serving at 4 p.m., with live entertainment at 6 p.m. Fireworks at 9:30 p.m. riverdaleregionalpark.org

Broomfield

Broomfield’s Great American Picnic kicks off at 5 p.m. July 4 in Broomfield County Commons Park, 13200 Sheridan Blvd., and includes a beer garden, children’s carnival (with separate tickets) and the 16th annual, all-ages bike parade. Kids are required to wear a helmet, so be sure to bring one if you’re riding. Live music starting at 6 p.m. will lead into 9:30 fireworks. Limited parking on-site and additional parking available at Legacy High School, with shuttles available from 5 to 11 p.m. broomfield.org/greatamericanpicnic

Castle Rock

CANCELED: Castle Rock’s 9:30 p.m. fireworks show is centered on the top of Santa Fe Quarry butte, above Red Hawk Ridge Golf Course, at an elevation of about 6,700 feet, which should make for great viewing nearly anywhere in town during the 15-minute show on July 4. Red Hawk Golf course will offer food and drink for purchase in its parking lot, 2156 Red Hawk Ridge Drive. crgov.com/2658/fireworks-in-castle-rock

Commerce City

This the 25th year for the Colorado Rapids’ popular 4thFest Celebration at Dick’s Sporting Goods Park. Billed as the state’s largest display, the free, family-friendly event on July 4 opens before that day’s game against the Austin FC with an impressive array of family-friendly activities and entertainment. The soccer game at 7:30 p.m. costs money, but fireworks can be seen all around the stadium at 6000 Victory Way.

New this year: a Block Party with a live DJ, drinks and more, as well as bike parking in the Burgundy Bike Lot, on the east side of the stadium between Gates B and C. Hours: 5-9 p.m. Parking lots are limited, and RTD bus and rail travel is encouraged. coloradorapids.com/4thfest

Denver

Downtown residents can celebrate the return of Civic Center‘s traditional Independence Eve, which has been sorely missed during its pandemic-era postponement. The Sunday, July 3, event includes live music from Colorado Symphony and other local artists, a light show on the City and Country Building, and fireworks around 9:15. Gates at 4 p.m. and music at 6 p.m., with food trucks on-site. 101 E. 14th Ave. denver.org

Get a jump on displays with the Friday, July 1, show from Denver Municipal Band, with a picnic starting at 6 p.m. and the live musical performance at 7 p.m. in Cranmer Park, followed by fireworks. 4501 E. 1st Ave. denvermunicipalband.org

Coors Field will launch fireworks on Friday, July 1, and Saturday, July 2, following the nighttime Colorado Rockies games against the Arizona Diamondbacks (they’ll be fighting the Dodgers in L.A. on July 4). Best-view seats are obviously inside the stadium, but hanging out around Lower Downtown or adjacent urban neighborhoods never hurts. 2001 Blake St. mlb.com/rockies/tickets/specials/fireworks

Englewood

Englewood’s family-friendly July 4 event, starting at 5 p.m., spans Belleview and Cornerstone parks in conjunction with the cities of Littleton and Sheridan, Arapahoe County and South Suburban Parks & Recreation. It will feature kids’ activities and food trucks, although this week organizers said they were pulling the planned fireworks for safety reasons. englewoodco.gov/fourthofjuly

Erie

This year’s fireworks display takes place at Erie Community Park (450 Powers St.) on Sunday, July 3, with the fireworks launched from the rooftop of the Erie Community Center at 9:30 p.m. Limited parking is also available there starting at 7 p.m. Food trucks and vendors will be on site. erieco.gov

Firestone

The 20th annual Fourth at Firestone is back on July 4 with another parade and family friendly activities at Miners Park — including booth vendors and food trucks — through 3 p.m. At 5 p.m., Miners reopens with live music, a beer garden, and more food trucks, followed by the 9:30 p.m. fireworks display. firestoneco.gov

Glendale

This early Independence Day celebration takes place on July 1 at Infinity Park, having jumped locations due to Creekside Park’s closure. Viewers can sit inside the stadium, in the stands or on the field, or on the turf field to the south of the stadium to view fireworks at 9:15 p.m. Movie shorts and videos will preface the display on the big screen and food trucks will be on site. glendale.co.us

Golden

Lions Park Ballfields are the site of Golden’s annual July 4 — with no fireworks this year, given its foothills location and fire dangers. The Golden Lions Club festival, starting at noon, leads up to the display with live music, food trucks, beer (Coors, naturally) and wine, 1300 10th St. visitgolden.com

Highlands Ranch

The celebration begins with a 8:45 a.m. family bike-and-pet parade, followed by a 9 a.m. community parade. See the city website for street closures and the parade route, which begins at 9285 Hepburn St. The 9:30 p.m.-10 fireworks display is back in Highland Heritage Regional Park, 9651 S. Quebec St, after a pandemic-era break. hrcaonline.org

Lafayette

After a year off, Lafayette’s celebration will feature 4-10 p.m. festivities at Waneka Lake Park, 1600 Caria Drive, including food, adult drinks, kid’s activities like face painting and bounce houses, live music, and the fireworks at dusk. business.lafayettecolorado.com

Lakewood

Big Boom Bash and its fireworks-only programming was this week canceled, having been initially planned as a display over Jeffco Stadium on Saturday. lakewood.org/bigboombash

Littleton

Will Red, White & You finally return to Clement Park this year? Foothills Parks & Recreation says yes, but details have yet to arrive for the Friday, July 1, fireworks display and/or programming. The rain or shine event is scheduled to run 5-10 p.m. at 7306 W. Bowles Ave. Check ifoothills.org/events/red-white-and-you for updates.

Lone Tree

Lone Tree Elementary and Prairie Sky Park will host a full slate of activities on July 4, starting with the 9 a.m. Family Fun Ride and Stroll, followed by the Family Fun Park through 1 p.m. (free, but reservations are required). At 5 p.m., Party in the Park kicks off with DJs, live brass-funk and “roaming entertainment.” 9381 Crossington Way. Fireworks at 9:30 p.m. cityoflonetree.com/cityevents/july4

Longmont

Longmont’s display is back at Fox Hill Country Club, 1400 CO-19 in Longmont, with food trucks opening at 5:30 p.m., Hazel Miller performing at 7 p.m., and the Skyline Kiwanis fireworks display at 9:15 p.m. Organizers also suggest nearby viewing areas such as Sandstone Ranch, Clark Centennial Park, Stephen Day Park and Jim Hamm Nature Area. longmontcolorado.gov

Louisville

Coal Creek Golf Course at 585 W. Dillon Road is open again for 2022’s July 4 display with free hot dogs and sausages beginning at 6 p.m. (while supplies last), bounce houses, face painting, and patriotic music from the Boulder Concert Band. Fireworks start at 9:45 p.m., and free shuttles are available at the King Soopers at 1375 E. South Boulder Road. louisvilleco.gov

Loveland

Loveland’s July 4 Festival and Fireworks will take over North Lake Park, 2750 N. Taft Ave., from 2-10 p.m. July 4. Look for kids games and entertainment, vendors and food trucks, summer-game competitions (cornhole, etc.), a beer garden, and fireworks at 9:17 p.m. lovgov.org

Northglenn

After a pause, Northglenn’s jam-packed July 4th Festival is back with the classic cars, duck derbies, live music, military recognition and picnics and kid’s activities galore. Food vendors and a beer garden, too. Noon-10 p.m. July 4 at E.B. Rains Jr. Memorial Park, 11800 Community Center Drive. Fireworks will launch between 9 and 9:30 p.m. northglenn.org

Parker

Parker’s Stars and Stripes Celebration is back after taking a year off, returning July 4 to Salisbury Park (11920 Motsenbocker Road). Free live music, walk-around entertainers and a carnival, with low-cost kid’s activities and tasty food vendors. In lieu of fireworks organizers will feature a coordinated drone light show. parkeronline.org

Thornton

Family activities begin at 4 p.m. on July 4 at Carpenter Park (11000 Colorado Blvd.) with food and drinks, live music, a presentation of colors and more. Paved and unpaved parking is available in the lots south of the Carpenter Park Fields and west of 108th Avenue. And don’t miss the annual tradition of the nighttime parachutists, who will herald the dusk fireworks. cityofthornton.net

Westminster

Organizers have not yet announced fine details for this 4-10 p.m. celebration on July 4, with fireworks at 9:15 p.m., but it’s one of the area’s best. It takes place at Westminster City Park, 10455 N. Sheridan Blvd., with fireworks scheduled for 9:15 p.m. Check cityofwestminster.us for updates on shuttle schedules and routes.

Get the updated list here.

Related Links

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Just Listed: Ground Floor Condo in River Rock Community

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Welcome home to River Rock - a gated community! This ground floor condo includes 2 bedrooms and 2 baths.

The primary bedroom features a closet that is a separate room and 3/4 bathroom with dual sinks. The secondary bedroom is ready for whatever your needs might be. The in-unit laundry closet makes doing laundry easy. Take advantage of the fireplace in the living room on cozy nights in. There is also a private patio located off of the living room that is perfect for balmy summer nights. The kitchen has lots of counter, pantry and cabinet space. The dining room is ample enough for a regular sized table. Several closets offer great storage spaces. You'll love the detached one car garage whether it means not scraping snow and ice off of your car or if it's used for storage. The community features a pool and clubhouse.

Listed by Malisa Miller Eakins for West + Main Homes. Please contact Malisa for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(720) 903-2912
hello@westandmainhomes.com

Presented by:
Malisa Miller Eakins
(303) 520-3036
malisa@westandmainhomes.com

Search homes in Colorado
 
 
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