The Denver housing market is starting to shift. After years of rapid growth, signs now point to a slowdown. Recent data shows more homes for sale, slower sales, and some price drops. While this isn’t a crash, it’s a clear change in direction.
More Homes on the Market
According to Realtor.com, the number of homes for sale in Denver rose 31.5% in May compared to last year. This is the 19th month in a row that inventory has gone up. More homes on the market give buyers more choices and more power to negotiate.
Sellers now need to be more careful with pricing. With more competition, homes that are priced too high may sit on the market longer.
Condo Prices Are Dropping
The biggest price drops have happened in condos and townhomes. In April, the median list price for these homes fell 7.3% from last year. Single-family homes dropped less—just 3.1%.
Also, nearly 30% of all Denver-area listings had to lower their prices in May. This shows that many sellers are adjusting to the new market.
Single-Family Homes Still in Demand
Even with more inventory, good single-family homes are still selling quickly—especially in top neighborhoods.
Some local buyers say these homes still get multiple offers. This suggests that while prices are softening, demand is still strong for quality homes in the right location.
Homes Are Taking Longer to Sell
Today, the average Denver home sits on the market for 51 days. That’s six days longer than last year. It also matches what we saw before the pandemic.
This is not a big slowdown—but it shows the market is calming down from its fast pace in 2021 and 2022.
Buyers Gaining Some Power
More listings and price cuts mean buyers now have a little more power. But affordability is still a challenge. High mortgage rates make it harder for many buyers to enter the market.
What This Means for You
- If you’re buying:
You now have more choices. You may be able to negotiate on price or terms. But good homes still sell fast—so don’t wait too long if you find the right one. - If you’re selling:
You may need to lower your price or offer incentives. Homes are not selling as fast as before, so be ready for a slower sale.
Final Thoughts
The Denver market is not crashing—it’s finding balance. More homes are available, and prices are adjusting. This is a healthier market for both buyers and sellers.
If you’re active in real estate, stay updated and flexible. This market rewards smart strategy and good timing.
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