market reports

Greater Denver Area Real Estate Market Report from November 2025

 
 

In Denver's 2025 real estate market, the gap between perception and reality remains stubbornly wide, according to DMAR’s Market Stats Committee.

The common narrative suggests our market is "slow" because buyers have stepped back from purchasing. The reality is more complex. While real estate fundamentals like inventory, pricing and demand certainly matter, broader economic forces have been equally influential in shaping market activity over the past three years. Inflation, economic uncertainty and recent events like the government shutdown have created a cautious environment that affects both buyer and seller decision-making. Understanding the distinction between a fundamentally broken housing market and one responding rationally to external pressures is crucial for interpreting what the data actually tells us.

Throughout 2025, active inventory reached levels Denver hasn't seen in over a decade, giving buyers meaningful leverage However, November brought the predictable seasonal shift. New listings declined 41.39 percent from October, nearly identical to the 41.54 percent drop between those same months in 2024. Similarly, month-end active inventory fell 15.92 percent, closely mirroring the 14.89 percent decline in 2024. These patterns reflect typical seller behavior during the holiday season: homes come off the market in November and December, often relisting after the new year. The consistency with prior-year patterns suggests the market is following normal seasonal rhythms rather than fundamental deterioration.

Pricing followed a similar seasonal trajectory. Median sale prices declined month-over-month for both attached homes (1.96 percent) and detached homes (1.47 percent) - typical fourth-quarter movements as demand moderates heading into winter.

The year-to-date picture provides important context: attached homes are down 3.21 percent while detached homes remain essentially flat, up just 0.02 percent. These modest annual changes reflect market stabilization rather than the dramatic shifts often portrayed in headlines. This stabilization has been particularly valuable in addressing the rapid appreciation of recent years. After prices surged 38.5 percent from March 2020 through April 2022, the subsequent three years of slower growth have brought the market into better balance. From March 2020 to November 2025, the cumulative median price increase now stands at 31.5 percent, which is equivalent to an average annual increase of 6.3 percent. What initially appeared as unsustainable growth has, over time, normalized into a pace more consistent with historical appreciation patterns.

As we close out 2025, expect continued seasonal patterns through December and January-reduced inventory, fewer transactions and the typical holiday slowdown. Come spring, we'll likely see the familiar uptick in listings and activity that characterizes every healthy real estate cycle. Perhaps 2025's most significant contribution to Denver's housing market wasn't dramatic, it was necessary. This was the year the market needed to recalibrate expectations and reestablish what a typical real estate market actually looks like. After years of frenzied bidding wars, waived contingencies and double-digit appreciation, 2025 reminded us that functional markets have negotiation, reasonable timelines and modest price movements. Homes that sit for 29 days aren't signs of crisis. They're signs of normalcy. Buyers who can negotiate concessions aren't exploiting weakness; they're participating in standard real estate transactions.

For 2026, the opportunity lies in embracing this balance. Buyers and sellers who understand that "normal" doesn't mean

"broken" will find success. Those waiting for extremes, whether crash or boom, will likely remain on the sidelines, while others transact in a stable, predictable market that serves both parties well.

Learn more about the market from the Denver Metro Association of Realtors.

Thank you to our partners at the Denver Metro Association of Realtors for compiling this information.

Related Links

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Greater Denver Area Real Estate Market Report from October 2025

 
 

The market today is not a version of what once was; it's a new ecosystem entirely, according to the Denver Metro Association of Realtors. Interest rates, inventory and buyer behavior have shifted, but instead of chasing the nostalgia of 2019 or the frenzy of 2021, it's time to ask, what does success look like right now?

The Denver Metro market has been steadily redefining its baseline. Prices have stabilized, sellers are adjusting expectations and buyers-though more cautious-are still highly motivated when the numbers make sense. In other words, the market hasn't collapsed or exploded. It's recalibrated. This is the "new normal," and it's one that rewards adaptabil-ity, realism and strategy over speculation.

The environment remains challenging for sellers. The end-of-month inventory in October increased by 14.21 percent year-over-year, despite a 4.60 percent decrease in new listings entering the market from October 2024, continuing the pattern of new listings outpacing buyer demand. Homes were on the market for a slightly shorter period month-over-month, with a median of 31 days for detached homes and 41 for attached homes. Both attached and detached homes sold within 98 percent of the list price. The number of homes sold through October was 36,053, just 152 fewer homes, 0.42 percent, than the same point in 2024. The total new inventory that has entered the market year-to-date has increased 7.87 percent year-over-year.

The year-over-year median sale price remained flat for detached homes and decreased by 2.95 percent for attached homes in October. The recalibration of home prices has been occurring, not with a steep decline, but with a gradual shift in balance. The Denver Metro Area experienced a 38.50 percent increase in median home prices from March 2020 to April 2022, representing an average annual growth rate of 19.25 percent. From March 2020 to October 2025, the median sale price increase was 33.71 percent, representing an average annual growth rate of 6.74 percent. The rebalance positions the median sale price within the historical trend range.

For buyers, this moderation in price growth creates a rare window of opportunity. With values settling into a sustainable range and less competition at the offer table, buyers can once again focus on finding homes that align with their long-term goals, rather than rushing to win a bidding war. The current environment allows for more negotiation pow-er, greater flexibility in inspections, and the ability to make decisions based on value, rather than a fear of missing out.

The Denver market has, in many ways, hit its "reset button." We're not witnessing volatility, we're seeing normalization.

For real estate professionals, this means grounding our strategies in data and confidence, rather than relying on headlines or memories of the past. Sellers must recognize that realism sells, while buyers who act decisively can secure homes under far more rational conditions than in recent years. October's numbers remind us: this isn't a waiting game-it's a moment to participate in a more balanced, sustainable market. We are experiencing the next chapter of Denver real estate.

Learn more about the market from the Denver Metro Association of Realtors.

Keep reading for a price breakdown from West + Main Agent and Market Trends Committee Member, Michelle Schwinghammer.

Thank you to our partners at the Denver Metro Association of Realtors for compiling this information.

Related Links

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Greater Denver Area Real Estate Market Report from September 2025

 
 

September always brings a natural shift in the Denver housing market-not just because of the calendar, but because life changes pace, according to the Denver Metro Association of Realtors.

Summer vacations wind down, kids head back to school and buyers and sellers alike settle into new routines and motivation. This year, the seasonal rhythm aligned with a remarkably steady market. Sales, prices and overall tone through 2025 have followed a consistent path. Still, the close of Q3 signals a moment to recalibrate; interest rates, which have defined so much of the year, are showing early signs of easing.

The seasonality and economic conditions of our market today are micro adjustments compared to a market where we see large swings in demand and prices, as we did during 2020 through 2022. These variations in the market seem uneventful compared to our lingering expectations of the previous market cycle, but they are no less meaningful. The subtle adjustments show a nuanced buyer and a nuanced seller, requiring tenacity, trust and expertise to make the perfect match.

Options continue for buyers; new listings in September increased slightly for both attached and detached homes, by 12.74 percent and 3.87 percent, respectively. The active inventory at month's end was up 17.62 percent year-over-year and 70.17 percent from 2022. This increase in active listings is a result of lower buyer demand, as the total number of new listings that have entered the market through the end of September is up 10.46 percent year-over-year and down 1.75 percent compared to 2022.

Buyers are increasingly opting for detached homes over attached ones. The sales volume for detached homes in September was up 6.55 percent year-over-year, while the attached sales volume decreased by 16.78 percent. Attached homes continue to see challenges in the increased costs of insurance and community maintenance, resulting in higher-than-historically-typical community dues.

Although the market has seen a large number of listing price reductions, the detached home market saw only a small decline in the median sale price in September, 1.79 percent month-over-month, while attached homes experienced a slight increase of 1.17 percent. Year-over-year, however, the median sale price for detached homes increased by 1.33 percent, while the median sale price for attached homes decreased by 3.35 percent. The number of days in the MLS has increased from 30 in August to 35 in September, representing a 16.67 percent increase and a 40.00 percent increase from September 2024. Pricing strategy is the most crucial element for sellers in this market, and as days in the MLS in-crease, determining when to wait for the right buyer and when it's time for a price reduction is a delicate balance.

The stress on buyer demand was eased slightly in September with a 25-basis-point reduction in the federal funds rate.

The anticipation of the rate cut brought the lowest mortgage interest rates we have seen so far in 2025, but it did not prompt a rush of buyers into the market. Whether they are holding out for additional rate cuts or feeling the uncertainty of inflation and employment, buyers remain cautious.

Learn more about the market from the Denver Metro Association of Realtors.

Thank you to our partners at the Denver Metro Association of Realtors for compiling this information.

Related Links

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Greater Denver Area Real Estate Market Report from August 2025

 
 

The Denver Metro housing market may not be making bold moves right now, but that does not mean the story is simple, according to the DMAR Market Stats Committee.

In fact, 2025 has been defined by a steady, almost stubborn stagnancy. Prices have remained relatively stable for much of the year, with buyer activity mirroring 2024 levels. Although interest rates continue to weigh on affordability, they have not sparked dramatic changes in buyer or seller behavior. On the surface, the market looks quiet-maybe even predictable.

A high-level look at the Denver Metro market in August includes price changes, days in the MLS and inventory lev-els. Price changes throughout the year have been modest, and August reflected this trend with a slight 0.15 percent decrease in median close price for detached homes and a 1.28 percent decrease for attached. Days in the MLS increased by a median of six days for both attached and detached homes.

Inventory, however, is where we see the sharpest contrast. Through the end of August, 45,868 new listings hit the market in 2025, up 10.49 percent year-over-year-yet active listings climbed even more, up 21.77 percent. Despite this, buyer demand has stayed steady, with closed sales nearly identical to 2024 levels.

The bigger divide is between homes that sell quickly and those that linger. Of the properties that closed in August, only 1.12 percent had a price reduction, with a median adjustment of just 2.95 percent. Compare that to current active listings, where 58 percent have reduced their price, with a median drop of 4.52 percent. A significantly larger divide exists for homes that have been on the market for more than 30 days; 74 percent have taken a price cut, with a median change of 4.76 percent. This gap highlights the importance of strategic pricing from the start.

Homes priced appropriately are selling with little or no reduction, while overpricing often leads to extended days on the market and steeper price adjustments. While the median closed prices have stayed relatively stable, sellers continue to push against buyers' price tolerance.

As we enter the fall months, there is little expectation for the market to change as we round out the year. September is a notoriously volatile month for markets, and the anticipation of a Federal Reserve rate cut this month could increase uncertainty regarding the impact on mortgage rates. Factors such as unemployment, inflation and tariffs may ultimately undermine the intended benefits of any rate cut.

For Denver real estate, a stagnant market does not mean an easy one to understand. Data alone does not tell the full story. If you cannot understand the trends or refuse to see the story they reveal, charts and stats are meaning-less. Understanding how the trends connect to real buyer and seller decisions is what truly matters.

Learn more about the market from the Denver Metro Association of Realtors.

Thank you to our partners at the Denver Metro Association of Realtors for compiling this information.

Related Links

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

Search Homes in Colorado

Greater Denver Area Real Estate Market Report from July 2025

 
 

The July Denver Metro housing data reinforces what many agents and industry analysts have been observing on the ground: we're navigating a market of contrasts. Inventory and days in MLS are both rising, according to the DMAR Market Trends Committee.

Buyer activity has slowed, yet pricing remains relatively stable. These mixed signals reflect a highly segmented marketplace, where every listing and every buyer tells a different story, and where outcomes can vary widely depending on price point, location and strategy.

The detached and attached markets saw varying trends in July. New inventory for detached homes slowed, with 3,916 homes coming to market, a 13.57 percent drop from June. The number of pending properties declined 2.28 percent, showing a slight slowdown in buyer activity. At the end of the month, the inventory of detached homes increased just 0.76 percent, a sign that well-priced homes are still moving, but competition is easing for buyers.

Attached homes had a busier month, with 1,445 properties entering the market—a 3.21 percent increase over June. Pending properties increased 6.49 percent month-over-month, while the end-of-month inventory of attached homes dipped slightly, down 1.94 percent, indicating steady buyer absorption despite broader market uncertainty.

Median days in MLS rose month-over-month for both attached and detached properties, increasing by 25.8 and 25 percent, re-spectively.

The number of properties that sold in July dropped 11.31 percent from June and 6.84 percent from July 2024. It is not unusual to see a seasonal decline in sales volume from June to July as the market shifts into late summer.

Sale prices remain relatively flat for the year. Median prices declined slightly in July-down 2.26 percent for detached homes and 2.50 percent for attached homes; however, these modest dips are also in line with seasonal patterns.

The overall economic and consumer environment has experienced significant uncertainty in 2025, which is reflected in the real estate market. Total sales are down 0.80 percent year-over-year and 2.57 percent compared to 2023. Three years of sluggish sales are putting pressure on prices as buyers remain hesitant.
Sellers need to align expectations with market realities. Overpricing or underpreparing a home can lead to extended days on market and price reductions. With buyer demand uneven and more inventory available, presentation and strategic pricing are critical.

Precision and adaptability for sellers are essential. While pricing has remained relatively flat, buyers are more selective and price-sensitive, especially with more inventory on the table. Homes that are well-prepared and accurately priced can still sell quickly, but overpricing or skipping presentation details often leads to extended time on market.

Buyers in the current Denver market have a meaningful opportunity: more inventory, slower competition and stable pricing create space for strategic moves. With median days in MLS increasing and detached home listings climbing, there is less pressure to rush into decisions, especially in higher price brackets. That said, the market is highly segmented. Some homes still sell quickly, while others linger. Buyers need to look beyond averages and focus on hyper-local trends.

Learn more about the market from the Denver Metro Association of Realtors.

Keep reading for an In-depth breakdown on properties sold for $1 million or more by West + Main Agent Michelle Schwinghammer.

Thank you to our partners at the Denver Metro Association of Realtors for compiling this information.

Related Links

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

Search Homes in Colorado

 
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