{"id":3522,"date":"2026-08-07T04:08:56","date_gmt":"2026-08-07T04:08:56","guid":{"rendered":"https:\/\/coloradospringsmoverss.com\/?p=3522"},"modified":"2026-08-07T04:08:56","modified_gmt":"2026-08-07T04:08:56","slug":"denver-home-sales-play-it-cool-in-an-otherwise-hot-july","status":"publish","type":"post","link":"https:\/\/coloradospringsmoverss.com\/?p=3522","title":{"rendered":"Denver home sales play it cool in an otherwise hot July"},"content":{"rendered":"
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Metro Denver\u2019s housing market pulled back slightly in July, with the approaching start of the school year and higher mortgage rates weighing on sales.<\/p>\n

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The number of closings fell from 4,158 in June to 3,667 in July, an 11.8% decline, and they are down 5.7% year-over-year, according to .<\/p>\n

Some of that slowing is seasonal, as families try to solidify their housing situation before the new school year starts in August.<\/p>\n

But a rise in 30-year mortgage rates, which went from around 6.3% in June to closer to 6.8% by the end of July, may have also deterred some buyers.<\/p>\n

\u201cThe people moving through this market are moving because life is asking them to \u2014 a growing family, a job change, a divorce, a death, a downsize,\u201d said Amanda Snitker, chairwoman of DMAR\u2019s Market Trends Committee, in comments accompanying the report.<\/p>\n

\u201cThose transactions don\u2019t pause for market sentiment, and they\u2019re a large part of why sales have held as steady as they have,\u201d she said.<\/p>\n

New listings fell 5.3% to 5,447 in July from June and are up 1.6% from a year earlier.<\/p>\n

There were 13,115 active home and condo listings at the end of July, up 2.9% from June but down 6.3% from a year earlier. July\u2019s average inventory going back to 2002 is 15,347, according to DMAR.\t\t\t\t<\/p>\n

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The median price of a single-family home that closed in July was $660,000, down 2.2% from the price of $675,000 in June, but 1.5% higher than the $650,000 median price seen a year earlier.<\/p>\n

Condo and townhome median sold prices fell 2.6% to $380,000 on both a monthly and annual basis.<\/p>\n

Condos are also taking more than twice as long to sell as homes, a median of 40 days compared to 17 days.<\/p>\n

Although mortgage rates have remained stubbornly high this year, household incomes have been rising too, improving affordability in the starter home market for the eighth consecutive month, according to a study from Redfin, the Seattle-based brokerage.<\/p>\n

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Redfin defines a starter home as one that ranges from the bottom 5% to 35% of homes in price. The cutoff starts at 5% to eliminate distressed sales and foreclosures.<\/p>\n

In Denver, the income required to afford the typical starter home is $108,689, while the estimated median household income is $116,323 a year.<\/p>\n

About 68% of starter homes in Denver are affordable to a household earning the median income, according to Redfin.<\/p>\n

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Metro Denver’s housing market pulled back slightly in July, with the approaching start of the school year and higher mortgage rates weighing on sales.<\/p>\n","protected":false},"author":1,"featured_media":3521,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,4,37],"tags":[],"class_list":["post-3522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","category-real-estate"],"yoast_head":"\nDenver home sales play it cool in an otherwise hot July - Colorado Springs Moverss<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coloradospringsmoverss.com\/?p=3522\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denver home sales play it cool in an otherwise hot July - 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