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.