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 February 2023

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 in Denver, CO

How much do homes in Denver, CO cost?

Median Sold Price

$584,524

$382/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$25,310(-4.2%)

Key Takeaway

Homes in Denver have sold for 4.2% less than they did a year ago.

Summary: The median home sold price in Denver was $584,524 in February 2024, down 4.2% from last year, and the median price per square foot was $382.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $331.6K$310.8K
-6.3%
2 $465.9K$439.8K
-5.6%
3 $646.6K$621.9K
-3.8%
4 $826.4K$774.9K
-6.2%
5+ $1.1M$1.0M
-4.7%

Summary: Denver housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.3%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes decreased by 4.7%.

Median Sold Price Compared To Nearby Cities

Englewood
+2.5%
Cherry Hills Village
+1.5%
Sheridan
-2.9%
Denver
-4.2%

Housing Supply in Denver, CO

How many homes are available in Denver, CO?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3,5244,494+27.5%

Summary: The Denver real estate market had 4,494 homes for sale in February 2024, a 27.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 342462
+35.1%
2 1,0631,331
+25.2%
3 9421,197
+27.1%
4 752945
+25.7%
5+ 425559
+31.5%

Summary: The Denver housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 35.1%, 2 bedroom homes increased by 25.2%, 3 bedroom homes increased by 27.1%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes increased by 31.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
7191,025+42.6%

Asking Price vs. Sold Price

466 Homes Were Sold
Under Asking

259 Homes Were Sold
At Asking

300 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. 45.5% of homes here sold below asking price last month.

Summary: A total of 1,025 homes were sold or pending in Denver in February 2024, up by 42.6% month-over-month. Of the 1,025 sold homes, 45% were sold under asking, 25% were sold at asking, and 29% were sold over asking.

Days on Market for Denver, CO

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

Average Sale Time

Feb 2023Feb 2024CHANGE
46 Days50 Days+7.5%

Summary: Homes in Denver had an average of 50 days on market in Feb 2024, up by 7.5% compared to last year.

Breakdown of Home Sale Times

544 Homes Were Sold
Under 30 Days

266 Homes Were Sold
In 30 - 90 Days

215 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 February 2024, 1025 homes were sold in Denver; 53% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 21% 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 28 Days Ago

Newest Listings in Denver, CO

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