DENVER — The summer buying and selling season is in full swing, and in the Denver metro area, median sales prices have surpassed $410,000.
According to a housing report from the Colorado Association of Realtors, median sales prices rose nearly 6 percent from a year ago.
Statewide, the median sales price is $370,000 for single-family homes, a 7 percent increase from last year.
The number rose despite a 7 percent increase in new listings in the metro area and statewide.
“As the median sales price for a single-family Denver home edges ever closer to doubling in the last five years, the annual midseason slowdown appears to be coming a little early this year,” a Colorado Association of Realtors spokesman said.
“Homes priced in the affordable category continue their red-hot demand while homes above the median price of $440,000 have started to recognize nominal price decreases — especially on the higher end.
“As the Percent of List Price Received remains steady at 100.9 percent, even the above-average category is recognizing a strong market activity.
“We can expect the remainder of summer to stabilize going into the ‘back to school’ mindset within suburban areas while urban dwellings under the median mark show no signs of cooling.”