How is the Denver housing market doing?

The Denver housing market is seeing prices come down slightly, with more homes available for sale than last year. Homes are also staying on the market for a bit longer. Many sellers are reducing their asking prices. The median listing price right now is $569,900, which is down slightly by 0.9% from the prior month and 4.9% less than last year. The average listing price also dropped by 5.0% over the past year to $745,322. This suggests a bit more financial breathing room for buyers. There are 13,365 active listings, meaning 6.7% more homes are on the market compared to a year ago. However, fewer new listings came on the market, down 5.9% from last year. This increase in total active homes despite fewer new ones means homes are sitting longer. Homes are currently staying on the market for 58 days, which is a little quicker than the previous year. About 32.1% of homes have had their prices reduced, a slight increase from last year. This means sellers are adjusting to find buyers. For those looking to buy, there's more inventory and prices have softened a bit, offering more choices and potential for negotiation.

The Denver housing market is seeing prices come down a bit, and there are more homes available for sale. This means buyers have more choices right now. Homes are also staying on the market for a little longer.