The median sale price has hit an all-time high of $653,000 in Denver. Inventory continues to decrease, and 1,464 homes sold in May, which is 6% above the last five-year average. Active listings were also down 20% in May. People aren’t selling their homes. The question is, why?
Denver is becoming one of the most expensive cities in the country. The median sale price has increased by 31% over the last three years with no sign of cooling off. Traditionally, sellers move every few years for various reasons — size requirement changes, a neighborhood change, or a lifestyle or work change. People are now staying put because they cannot afford their next home in Denver or fear being unable to secure a new home.
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