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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northwest Denver is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Northwest Denver, CO

How much do homes in Northwest Denver, CO cost?

Median Sold Price

$731,306

$501/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$21,323(-2.8%)

Key Takeaway

Homes in Northwest Denver have sold for 2.8% less than they did a year ago.

Summary: The median home sold price in Northwest Denver was $731,306 in March 2024, down 2.8% from last year, and the median price per square foot was $501.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $468.3K$450.3K
-3.8%
2 $669.8K$631.1K
-5.8%
3 $865K$836.7K
-3.3%
4 $1.1M$1.0M
-5.3%
5+ $1.3M$1.3M
+0.9%

Summary: Northwest Denver housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes decreased by 5.8%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 0.9%.

Median Sold Price Compared To Nearby Neighborhoods

Highland
+1.3%
Witter
-0.4%
Northwest Denver
-2.8%

Housing Supply in Northwest Denver, CO

How many homes are available in Northwest Denver, CO?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
8491,049+23.6%

Summary: The Northwest Denver real estate market had 1,049 homes for sale in March 2024, a 23.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 141172
+22.0%
2 321372
+15.9%
3 198260
+31.3%
4 123161
+30.9%
5+ 6684
+27.3%

Summary: The Northwest Denver housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22%, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 30.9%, and 5+ bedroom homes increased by 27.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
176207+17.6%

Asking Price vs. Sold Price

99 Homes Were Sold
Under Asking

44 Homes Were Sold
At Asking

64 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northwest Denver, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.

Summary: A total of 207 homes were sold or pending in Northwest Denver in March 2024, up by 17.6% month-over-month. Of the 207 sold homes, 48% were sold under asking, 21% were sold at asking, and 31% were sold over asking.

Days on Market for Northwest Denver, CO

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

Average Sale Time

Mar 2023Mar 2024CHANGE
33 Days44 Days+32.9%

Summary: Homes in Northwest Denver had an average of 44 days on market in Mar 2024, up by 32.9% compared to last year.

Breakdown of Home Sale Times

126 Homes Were Sold
Under 30 Days

37 Homes Were Sold
In 30 - 90 Days

44 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 207 homes were sold in Northwest Denver; 61% of homes were sold within 30 days, 18% 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 18 Days Ago

Newest Listings in Northwest Denver, CO

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