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 March 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

$588,052

$383/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$18,346(-3.0%)

Key Takeaway

Homes in Denver have sold for 3% less than they did a year ago.

Summary: The median home sold price in Denver was $588,052 in March 2024, down 3% from last year, and the median price per square foot was $383.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $330K$309.7K
-6.1%
2 $459.8K$444.3K
-3.4%
3 $640.5K$623K
-2.7%
4 $812.3K$783K
-3.6%
5+ $1.1M$1.0M
-3.7%

Summary: Denver housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.1%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes decreased by 3.7%.

Median Sold Price Compared To Nearby Cities

Englewood
+2.0%
Cherry Hills Village
-2.4%
Denver
-3.0%
Sheridan
-4.0%

Housing Supply in Denver, CO

How many homes are available in Denver, CO?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4,3705,168+18.3%

Summary: The Denver real estate market had 5,168 homes for sale in March 2024, a 18.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 444542
+22.1%
2 1,2841,500
+16.8%
3 1,1751,360
+15.7%
4 9331,089
+16.7%
5+ 534677
+26.8%

Summary: The Denver housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.1%, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 26.8%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1,1121,211+8.9%

Asking Price vs. Sold Price

481 Homes Were Sold
Under Asking

307 Homes Were Sold
At Asking

423 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. 39.7% of homes here sold below asking price last month.

Summary: A total of 1,211 homes were sold or pending in Denver in March 2024, up by 8.9% month-over-month. Of the 1,211 sold homes, 40% were sold under asking, 25% were sold at asking, and 35% 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

Mar 2023Mar 2024CHANGE
33 Days36 Days+9.3%

Summary: Homes in Denver had an average of 36 days on market in Mar 2024, up by 9.3% compared to last year.

Breakdown of Home Sale Times

820 Homes Were Sold
Under 30 Days

209 Homes Were Sold
In 30 - 90 Days

182 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 March 2024, 1211 homes were sold in Denver; 68% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 15% 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 18 Days Ago

Newest Listings in Denver, CO

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