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 April 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

$505,666

$369/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$25,583(-4.8%)

Key Takeaway

Homes in Southwest Denver have sold for 4.8% less than they did a year ago.

Summary: The median home sold price in Southwest Denver was $505,666 in April 2024, down 4.8% from last year, and the median price per square foot was $369.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $328.7K$309K
-6.0%
2 $450K$418K
-7.1%
3 $541.8K$525K
-3.1%
4 $591K$572.5K
-3.1%
5+ $629.5K$682.5K
+8.4%

Summary: Southwest Denver housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 8.4%.

Housing Supply in Southwest Denver, CO

How many homes are available in Southwest Denver, CO?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
334517+54.8%

Summary: The Southwest Denver real estate market had 517 homes for sale in April 2024, a 54.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 2945
+55.2%
2 114147
+28.9%
3 95168
+76.8%
4 58104
+79.3%
5+ 3853
+39.5%

Summary: The Southwest Denver housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 55.2%, 2 bedroom homes increased by 28.9%, 3 bedroom homes increased by 76.8%, 4 bedroom homes increased by 79.3%, and 5+ bedroom homes increased by 39.5%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
40116+190.0%

Asking Price vs. Sold Price

46 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

44 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southwest 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 116 homes were sold or pending in Southwest Denver in April 2024, up by 190.0% month-over-month. Of the 116 sold homes, 40% were sold under asking, 22% were sold at asking, and 38% 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

Apr 2023Apr 2024CHANGE
17 Days26 Days+48.0%

Summary: Homes in Southwest Denver had an average of 26 days on market in Apr 2024, up by 48% compared to last year.

Breakdown of Home Sale Times

84 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

9 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 April 2024, 116 homes were sold in Southwest Denver; 72% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% 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 Apr 1, 2024

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