How is the Denver housing market doing?

The housing market in Denver is showing a slight cooldown. While prices are holding relatively steady for now, homes are taking longer to sell. The median price for a home in Denver is currently $589,000. This is pretty stable compared to last month, with only a small increase of 0.3%. However, looking back over the past year, prices have actually dipped a little, down 1.8%. There are fewer homes on the market compared to a year ago. Active listings are down by 7.2%, meaning less choice for buyers. We're also seeing fewer new homes coming up for sale, with a 2.6% drop in new listings. Homes are sitting on the market longer now. On average, a home takes 43 days to sell, which is over 13% longer than last year. Also, about a quarter of all listings have had their prices cut, though this is slightly less common than it was last year. If you're looking to buy, you might have a bit more time to make a decision, and some sellers are open to negotiating. If you're selling, be prepared for your home to take a little longer to find a buyer.

The housing market in Denver is pretty steady right now. Prices are holding firm, and while there are fewer new homes coming up for sale, those that are available are sticking around a bit longer. The median price for a home in Denver is "$589,000." This price has gone up just a tiny bit, by 0.3%, since last month. Compared to last year, prices are down slightly, by 1.8%, so things are not changing much. There are 11,465 homes for sale right now. This is 7.2% fewer homes than last year. Also, 2.6% fewer new homes came onto the market compared to last year, with 5,876 new listings. This means fewer options for buyers. Homes are taking a bit longer to sell. The typical home stays on the market for 43 days, which is 13.2% longer than last year. Even with fewer homes for sale, about a quarter of them, 25.5%, have had their prices lowered. About 0.41 homes went under contract for every home listed, which is a little higher than last year. This tells us that even though homes are sitting longer, people are still signing contracts to buy them. If you're thinking of selling, know that homes are taking more time to find a buyer, but prices are steady. As a buyer, you might see fewer new options, but homes are staying on the market longer, giving you a bit more time to decide.