By Tom Kalinski, Broker/Owner, RE/MAX of Boulder
Real estate sales records across Colorado shattered and median home prices hit record highs in July, according to the latest monthly housing data from the Colorado Association of REALTORS® (CAR).
A record 10,771 single-family homes sold statewide in July, topping the previous month’s sales by 15.7% and year-over-year by 21%. The median home price rose 4.5% over June to $443,925 – which is up 8.6% from a year ago, while inventory is still low with active listings dropping more than 11% compared to June and down 42% compared to last year, reports CAR.
More than half of homes sold — 6,500 – were in the seven-county Denver metro area, which include Boulder and Denver. This is up nearly 14% from June to July and more than 20% from July 2019. The average price of a home in the Denver metro jumped to a record-high $601,863 in July, a 7.68% increase from June.