Is Denver a buyer's market right now?

Thinking about buying a home in Denver right now, you'll find the market has become a bit more friendly for buyers than it was a year ago. Prices are slightly down, and homes are staying on the market longer. The median listing price in Denver is currently $589,000, which is a small increase of 0.3% from last month but a decrease of 1.8% compared to a year ago. The average listing price also dropped by 2.3% year-over-year, to $781,414. This means homes are listed for a little less money than they were last year. Homes are also taking longer to sell. The median time a home spends on the market is 43 days, which is 13.2% longer than last year. This gives buyers more time to look around and make decisions without feeling rushed. There are 11,465 active listings, which is 7.2% fewer than last year. However, fewer new homes are coming on the market, with new listings down 2.6% year-over-year to 5,876. While there are fewer homes overall, the slower pace of sales and the increase in time on market still give buyers a better footing. About 25.5% of homes have had their prices reduced, which is a decrease of 3.9% from last year. This suggests that while some sellers are cutting prices, it\'s not as widespread as it was previously. The pending ratio is 0.41, meaning for every 10 active listings, about 4 are going under contract. This is a small increase of 4.6% from last year, showing demand is still present. If you're looking to buy, you might have a bit more breathing room to find a home you love and potentially negotiate on price, given the longer time homes are spending on the market and the slight drop in overall prices compared to last year.

Thinking about buying a home in Denver? Here’s what you need to know. Right now in Denver, the median listing price is $589,000. This is pretty stable compared to last month, with only a 0.3% increase. But it's actually a little lower than last year, down 1.8%. This means prices aren't jumping up quickly, which is good for buyers. There are 11,465 homes for sale, which is fewer than last year. New listings are also down by 2.6%. This means there isn't a huge flood of new homes hitting the market, so you might not have a ton of choices right away. Homes in Denver 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. Also, 25.5% of homes have had their prices lowered. This suggests sellers are being more flexible, which can be an advantage for you. With homes staying on the market longer and more price reductions, you might have more room to negotiate. Don't be afraid to make an offer below the asking price, especially if a home has been listed for a while.