Are home prices going up or down in Denver?

The median home price in Denver is holding steady right now, at $589,000, with no change from the previous month. However, prices are a bit lower than they were a year ago. Looking back over the past year, home prices have dropped by 3.4%. The typical home is also selling for about $286 per square foot, which is down 3.5% from last year. There are fewer homes on the market compared to a year ago. The number of active listings is down by 4.9%, and new homes coming up for sale are also slightly down by 1.4%. Homes are taking a bit longer to sell than they used to. The median time a home stays on the market is 48 days, which is about 7% longer than last year. Also, fewer sellers are having to drop their prices, with the share of price reductions down 4.6% from last year. Fewer homes for sale and fewer price reductions could suggest that the market is finding a new balance. If you're looking to buy, you might have a bit more time to make a decision compared to last year.

The short answer is home prices are holding steady right now in Denver, but they are generally lower than they were a year ago. The typical home is listed for $589,000, which hasn't changed from the prior month. \n\nLooking back over the past year, the median listing price has dropped by 3.4%. This means homes are listed for less money now compared to twelve months ago. \n\nThe average listing price tells a similar story, also down by 3.3% compared to this time last year. Home prices per square foot have also decreased by 3.5% over the past year, sitting at $286 per square foot currently. \n\nHomes are also staying on the market a little longer, taking 48 days to sell, which is about 7% more time than a year ago. About 29% of homes have had their prices cut, which is fewer homes than had price drops this time last year. \n\nFor sellers, while prices are down from last year, the market seems to be evening out compared to last month. Buyers might find more stable pricing now, but remember homes are taking a bit longer to sell.