After predicting these for a year since we have started blogging we are seeing the bubble finally burst before our eyes. Matthew Leprino, a Denver-area Realtor reported, “The median price for a Denver single-family home is now equal to that of March 2017 — $425,000.” In June 2018, we hit the high in terms of median sales prices, which was $451,500. From June 2018 to January 2019 that is an almost 6% decline!
Month over month, prices in the Denver Metro area started to weaken again, by 1.25% for median and 0.26% for average residential prices. Year over year the pace of the housing price increases slowed with the average residential prices rising by only 2.89% and the median residential prices rising 3.6% from January 2018.