Is Denver, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Denver is a seller's market

Buyer's
Market

Difference Since August 2022

Since last year, Denver has remained a Seller's Market.

Key Takeaway

Denver is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in Denver, CO cost?

Median Sold Price

$594,164

$386/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

-$11,828(-2.0%)

Key Takeaway

Homes in Denver have sold for 2% less than they did a year ago.

Summary: The median home sold price in Denver was $594,164 in August 2023, down 2% from last year, and the median price per square foot was $386.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $339.7K$314.9K
-7.3%
2 $475.4K$447.9K
-5.8%
3 $658K$635K
-3.5%
4 $825.4K$795.2K
-3.7%
5+ $1.1M$1.1M
+2.6%

Summary: Denver housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 7.3%, 2 bedroom homes decreased by 5.8%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 2.6%.

Median Sold Price Compared To Nearby Cities

Englewood
+1.7%
Denver
-2.0%
Cherry Hills Village
-6.5%
Sheridan
-6.8%

Housing Supply

How many homes are available in Denver, CO?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
4,7955,145+7.3%

Summary: The Denver real estate market had 5,145 homes for sale in August 2023, a 7.3% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 494490
-0.8%
2 1,3271,424
+7.3%
3 1,3621,446
+6.2%
4 1,0291,157
+12.4%
5+ 583628
+7.7%

Summary: The Denver housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 7.7%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
1,3661,328-2.8%

Asking Price vs. Sold Price

582 Homes Were Sold
Under Asking

343 Homes Were Sold
At Asking

403 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Denver, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Summary: A total of 1,328 homes were sold or pending in Denver in August 2023, down by 2.8% month-over-month. Of the 1,328 sold homes, 44% were sold under asking, 26% were sold at asking, and 30% were sold over asking.

Days on Market

How long does it take to sell a home in Denver, CO?

Average Sale Time

Aug 2022Aug 2023CHANGE
21 Days29 Days+41.6%

Summary: Homes in Denver had an average of 29 days on market in Aug 2023, up by 41.6% compared to last year.

Breakdown of Home Sale Times

665 Homes Were Sold
Under 30 Days

241 Homes Were Sold
In 30 - 90 Days

56 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Denver are selling fast, if you're buying plan to act quickly.

Summary: During August 2023, 1328 homes were sold in Denver; 50% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

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Nearby Markets

What housing markets are near Denver, CO?