There were 7,170 active listings at the end of May, 4.60 percent more than April but 19.36 percent less than the previous year when there were 8,891.  Sellers had the upper hand with low inventory in all price ranges except for homes priced over $1 million, where there were 9.50 months of detached luxury home inventory and an abundance of attached luxury homes for sale, with more than 23 months of inventory.  Anything over six months is considered a buyer's market.

 As expected, the number of closings was down in May following the weeks of strict showing restrictions, dropping 19.71 percent month over month and 48.86 percent year over year.  The average closed price didn't slip much month over month but dropped back below $500,000 to $495,925.  That was a 1.24 percent lower than April but 2.43 percent higher year to date.

 The Memorial Day weekend, and the beginning of Summer is usually a slower time for real estate sales but the boost in buyer activity kept agents busy this past holiday.  Does this mean our market has recovered from COVID-19?  Not quite yet, but it appears we are well on our way.  Low interest rates, renewed optimism and an increasing number of new choices are all positives.  The Biggest Metric in May was over 6,800 homes Pending in the Denver Metro Area!  That is a Record!