|A LOOK AT THE MARKET
With May being a great time to sell a home, Denver real estate experienced a month-over-month bump in new listings, as well as an increase in homes going under contract and closing.
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Taking a closer look, the median price for detached, single-family homes jumped from $640K in April to $659,945 in May. Compared to the same time period in 2022, that's a drop of 1.5% but stronger than the year-over-year decrease of 5.9% in April.
As for inventory, 3,627 new detached listings came on the market in May, an 8.8% increase over April. On the flip side, 3,118 single-family homes went pending in May and 2,900 closed.