According to the Denver Metro Association of Realtors (DMAR), the number of homes sold in May was down 48.86% year over year and 19.71% to the prior month. This was no surprise given that Denver’s Stay-at-Home order was in place during the entire month of April when these properties were pending. Although inventory is relatively low (7,170 at the end of May), home sales should increase during the month of June as we transition out of the strictest COVID-19 restrictions. Below are more key points from the monthly report.
- South Park Hill is the number one neighborhood in Denver according to 5280 Magazine. Check out to see where your neighborhood ranked!
- Colorado Springs is the “Hottest Real Estate Market” in the nation according to Realtor.com. Pueblo came in fourth!
- Nationally, home sales are expected to drop 15 percent in 2020, but prices are expected to go up 1.1 percent.
- The National Association of Realtors expects annual home appreciation for 2020 to be between four and six percent.