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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southwest Denver is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Southwest Denver, CO

How much do homes in Southwest Denver, CO cost?

Median Sold Price

$495,528

$360/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$20,488(-4.0%)

Key Takeaway

Homes in Southwest Denver have sold for 4% less than they did a year ago.

Summary: The median home sold price in Southwest Denver was $495,528 in March 2024, down 4% from last year, and the median price per square foot was $360.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $293.5K$291K
-0.9%
2 $417.6K$410K
-1.8%
3 $535.8K$515K
-3.9%
4 $585K$572.5K
-2.1%
5+ $633.4K$630K
-0.5%

Summary: Southwest Denver housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.9%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 0.5%.

Median Sold Price Compared To Nearby Neighborhoods

Bear Valley Club
+10.6%
Southwest Denver
-4.0%

Housing Supply in Southwest Denver, CO

How many homes are available in Southwest Denver, CO?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
571681+19.3%

Summary: The Southwest Denver real estate market had 681 homes for sale in March 2024, a 19.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 4868
+41.7%
2 168207
+23.2%
3 169200
+18.3%
4 128133
+3.9%
5+ 5873
+25.9%

Summary: The Southwest Denver housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 41.7%, 2 bedroom homes increased by 23.2%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 25.9%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1721720.0%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

50 Homes Were Sold
At Asking

70 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southwest Denver, you could pay more than the asking price. 40.7% of homes here sold above asking price last month.

Summary: A total of 172 homes were sold or pending in Southwest Denver in March 2024, the same as the previous month. Of the 172 sold homes, 30% were sold under asking, 29% were sold at asking, and 41% were sold over asking.

Days on Market for Southwest Denver, CO

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

Average Sale Time

Mar 2023Mar 2024CHANGE
32 Days34 Days+6.7%

Summary: Homes in Southwest Denver had an average of 34 days on market in Mar 2024, up by 6.7% compared to last year.

Breakdown of Home Sale Times

124 Homes Were Sold
Under 30 Days

24 Homes Were Sold
In 30 - 90 Days

24 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 172 homes were sold in Southwest Denver; 72% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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

Newest Listings in Southwest Denver, CO

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