How much should I offer on a home in Denver?

The median listing price in Denver right now is $589,000, which is about the same as last month. This price is down 3.4% compared to this time last year. You can get a general sense of how much homes are selling for by looking at this number. Keep in mind that about three in ten homes have had a price reduction. This suggests that sellers are willing to negotiate. This is a bit lower than last year, so fewer sellers are cutting prices compared to then. Houses in Denver are typically on the market for 48 days. This is a little longer than a year ago, meaning homes are sitting for a week longer before being sold. There are 12,572 homes for sale right now. This is a slight decrease of 4.9% compared to this time last year, so there are a few fewer options for you to choose from. There are 5,392 new homes coming onto the market, which is also a small drop from last year. You have a little less selection than there was a year ago. It’s a good idea to consider these factors when making your offer. The drop in prices and slight increase in time on the market could give you some room to negotiate.

You should offer an amount below the typical asking price for homes in Denver right now. The typical home is listed at $589,000, and prices have been dropping over the last year. The typical listing price has stayed the same this past month but is down 3.4% compared to this time last year. At the same time, the average price per square foot has also gone down by 3.5% over the past year, now sitting at $286. Homes are also staying on the market longer. The typical home now takes 48 days to sell, which is 6.7% longer than it did a year ago. This tells us it's taking more time for sellers to find a buyer. Nearly one-third of homes, 29.0%, have had their prices reduced, which is a sign that sellers are willing to negotiate. The number of homes for sale is 12,572, but it has gone down by 4.9% compared to last year. With prices generally trending down and homes taking longer to sell, you have some room to negotiate. Consider offering below list price, especially if the home has been on the market for a while or has already had a price reduction.