Special COVID-19 Edition: May 2020 Market Trends Report

Special COVID-19 Edition:
Coronavirus Impacts Metro Denver Housing Market with New Listings, Homes Under Contract and Sales Down Dramatically in April
Metro Denver’s housing market saw major decline with home showings dropping to a record low mid-April due to the Stay-at-Home order. With restrictions lifted to Safer-at-Home on April 27, approximately 3,500 showings were scheduled that day, more than any other Monday in 2020.

Impacts of the coronavirus on the Metro-Denver housing market were evident in April with new listings, homes under contract and home sales significantly down.

“Even with a stay-at-home order in place throughout most of April, REALTORS® proved we are an adaptable group as we found ways to help buyers and sellers who needed to buy or sell homes,” said Jill Schafer, Chair of the DMAR Market Trends Committee and Metro Denver REALTOR®. “With virtual showings, masks, booties, hand sanitizer and determination to help clients, 3,280 homes were put under contract and 4,679 listings came onto the market. That’s impressive considering the restrictions and uncertainty in our world – but COVID-19 did make an impact.”

By the numbers, in April there were 4,679 new listings on the market, down 29.81 percent month over month and 37.82 percent from the same month last year. At month’s end, 3,280 homes were under contract, down 29 percent month over month and 45.79 percent year over year. The number of homes sold, at 3,603, was down 24.34 percent month over month and 30.78 percent year over year. Total sales volume in April was $1.8 billion, down 25.69 percent over March and 29.73 percent year over year.

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Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.