The median price for a home sold in Metro Denver rose 2.5%. Don't be fooled, though.

The median closed price across Metro Denver reached $615,000 in May, up 2.5% from a year ago, while homes continued going under contract in a median of 14 days. DMAR framed the month around affordability fatigue and noted that prices remain close to their long-term trend. The affordability challenge is real. The 2.5% gain, however, deserves a closer look. Last month we noted a market splitting in two: detached homes were moving while attached homes were stalling. In May, that divide widened enough to distort the headline number. A median doesn't measure how much any individual home appreciated. It simply reflects the price of the home that sold in the middle of the market. When fewer lower-priced homes sell, that middle point rises even if values don't. The all-residential median increased 2.5%, but detached-home prices rose 1.5% while attached-home prices fell 2.5%. The overall median ended up higher than either figure because a smaller share of lower-priced homes changed hands. Questions about the Metro Denver real estate market? Contact Tom and David at The Principal Team at 720-408-7409.