The real estate market continues to blast off in Colorado, with the latest data indicating that the average sale price of a single-family detached home in Denver has increased more than $150,000 in a single year.
The Denver Metro Association of Realtors report released in early June indicated that the average sale price of a detached single-family home in Denver metro counties was $700,559 in May 2021. This is a 0.63% increase in the past month and a 29.25% increase over the past year. That compares to an average home sale price of around $696,000 a month prior and an average home sale price of around $542,000 a year ago. The national average sale price of homes sold in the United States was $383,000 in Q1 of 2020 and $403,600 in Q1 of 2021.
Overall, the average sales price of a residential space in the Denver metro area is $623,279, including both stand-alone homes and 'attached' spaces like condos and apartments. This price has increased 26.13% year-over-year with the average closing sale price of 'attached' spaces increasing to 22.37% during this period to $449,317.
The realtors association responsible for the report calls Denver's housing market "a strong seller's market for every property type and price point."
Read the full report from Denver Metro Association of Realtors, released on June 2, here.