Single-family dwelling costs rise $ 150,000 yearly, setting a brand new document in Denver
The Colorado real estate market continues to boom, with the latest data suggesting the average sales price of a single family home in Denver has increased by more than $ 150,000 in a single year.
The Denver Metro Association of Realtors report released in early June found that the average retail price of a detached single-family home in the Denver counties was $ 700,559 in May 2021. This is an increase of 0.63% last month and an increase of 29.25% from 5% last year. That compares to an average home sale price of around $ 696,000 the previous month and an average home sale price of around $ 542,000 a year ago. The nationwide median sales price for homes sold in the United States was $ 383,000 in the first quarter of 2020 and $ 403,600 in the first quarter of 2021.
Overall, the average retail price of a living space in the Denver area is $ 623,279, including detached houses and “attached” spaces such as condos and apartments. That price is up 26.13% year over year, with the average sale price of “attached” rooms increasing 22.37% to $ 449,317 during that period.
The realtor association responsible for the report describes the Denver housing market as “a strong sellers’ market for all property types and price ranges.”
Read the full Denver Metro Association of Realtors report, released June 2nd, here.