Colorado Association of REALTORS® Says Median Price for a Single-Family Home in Denver was $510,000 in July

The median price for a single-family home in Denver was $510,000 in July, up about 6 percent over last year.

But in a sign of a shift — however slight — toward a buyers’ market, sellers were getting 99.3 percent of what they were asking, compared to 100.3 percent last year, according to the latest monthly data report released Monday by the Colorado Association of REALTORS®.

In a statement accompanying the report, Denver-area REALTOR® Matthew Leprino said the local market  “appears to have hit an interesting pivot point.”

Leprino said while prices were increasing, it was at a slower tare.

In a statement, REALTORS® Jill Schafer said metro Denver sellers were reducing what they were asking but still getting close to the listed price.

“I’ve heard from homebuyers that they are not feeling the need to run out and see a property on the first day and, if they wait a couple weeks instead, prices often come down,” added Schafer, who chairs the market trends committee of the Denver Metro Association of REALTORS®.

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