market
milehimodern
report DENVER + BOULDER Q.3 2022
an era of balance
What was once a highly competitive seller’s market is starting to show signs of stabilizing in the Denver and Boulder markets — emphasizing the importance of understanding every key metric available. Recent stats such as list price, inventory and the number of days that properties spend on the market are tell-tale signs of a healthier market for both buyers and sellers. However, even with a continuous pulse on the market, buyer and seller success comes from no shortage of teamwork with a savvy broker.
With increased inventory across the Premier ($500K$1M), Luxury ($1-2M) and Ultra-Luxury ($2M+) markets paired with higher interest rates, Colorado is now experiencing a market more similar to pre-pandemic levels. Buyers may be granted more opportunities to purchase a residence that fits within their budget and needs rather than competing for a property just to secure a home. The good news for sellers is that the median home price for Colorado is still up year-overyear, indicating that the state is, and continues to be, an aspirational place to live.
As Colorado’s real estate market continuously evolves, our brokerage is honored to provide unparalleled service to our clients through creative negotiation tactics and continued adaptation to the shifting tides. Thank you for allowing us to serve you!
Carmelo Paglialunga + Carla Thompson milehimodern owners
STATS Colorado Median Price GEOMETRIC BRILLIANCE LAYERED LIGHT TEXTURED TONE The above Colorado data is based on counties statewide. The following Denver data is based on eleven counties in the Denver Metro Area: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park. The following Boulder data is based on Boulder County. JULY $580,000 AUGUST $570,000 SEPTEMBER $560,000
JULY
Active
AUGUST
SEPTEMBER
denver
Sold Average Sold Price Days on Market STATS 5,650 3,010 $781,631 13 YOY 96.3% 31.9% 12.0% 62.5% YOY 114.6% 31.0% 8.1% 100.0% YOY 106.8% 27.5% 8.0% 115.4%
Active Sold Average Sold Price Days on Market STATS 5,298 2,944 $744,589 20
Active Sold Average Sold Price Days on Market STATS 5,798 2,924 $745,947 28
JULY Active Sold Average Sold Price Days on Market
434 273 $1,006,954
38.1% 2.5% 14.8%
AUGUST Active Sold Average Sold Price Days on Market
STATS 376 286 $1,081,777
YOY 13.8% 20.8% 12.8% 13.9%
SEPTEMBER
Sold
Average Sold Price Days on Market
STATS 360 298 $1,027,264
YOY 11.5% 25.3% 11.0% 29.4%
boulder
Active
44
YOY 4.8%
STATS
31
41
ULTRA-LUXURY Active Under Contract Sold
Average Sold Price Days on Market
$2M+
131 131
Q2 TO Q3 31.99% 26.65% 37.50% 2.90% 2.75%
LUXURY Active Under Contract Sold
Average Sold Price Days on Market
601
Q2 TO Q3 34.37% 28.14% 39.41% 1.06% 43.06%
PREMIER
Active
Under Contract Sold
Average Sold Price Days on Market
3,378 3,488
Q2 TO Q3 43.73% 25.65% 25.91% 0.71% 52.31%
825
$2,938,868 36
$1M-$2M 1,698 578
$1,321,979 24
$500K-$1M 7,555
$669,211 22 q3 average DENVER + BOULDER
milehimodern (mhm) is Colorado’s premier real estate brokerage focused on the artistry of living.
We believe in connection first; every home has a soul-filled story to tell.
Our purpose is to bring this story to light by discovering the artistic sizzle, the iconic value, the extraordinary architecture, or simply the narrative of a beautiful life lived in each property.
story.
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who we are This data is collected from the following sources: Colorado Association of Realtors®, Denver Metro Association of Realtors® + REcolorado®. This material is based upon information that we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete. ©MileHiModern All Rights Reserved | 303.876.1073 milehimodern.com | MileHiModern® is a licensed trademark | An Equal Opportunity Company | Equal Housing Opportunity