Is Denver a seller's market right now?

{ "answer": "Looking at the most recent data, conditions in Denver are not strongly favoring sellers. While homes are spending a little less time on the market than last year, several key numbers suggest a more balanced environment. The median listing price is \$569,900, which is nearly 1% lower than the prior month and almost 5% lower than the same time last year. The average listing price also dropped about 5% over the past year, and the price per square foot is down 3.1%. This means prices are generally trending downwards. There are more homes for sale right now compared to last year, with active listings up 6.7%. Even though new listings have slightly decreased, the overall number of homes available is higher. This gives buyers more choices. Also, more than 32% of homes for sale have had their prices reduced. This number is slightly higher than last year, indicating that sellers are often needing to adjust their asking prices to attract buyers. For those looking to sell in Denver, it's important to price your home competitively and be prepared for potential negotiations, as buyers have more options and prices have softened." }

Right now, the housing market in Denver-Aurora-Centennial is not showing strong signs of being a seller's market. Prices have dipped and there are more homes available for sale than there were last year. The median listing price is $569,900, which is nearly 1% lower than the prior month and almost 5% lower than last year. This suggests that prices are cooling off, giving buyers a bit more breathing room. There are 13,365 active listings, an increase of 6.7% over the past year. This higher number of homes on the market generally means more choices for buyers and less competition. Homes are taking an average of 58 days to sell, which is slightly faster than last year. However, a significant 32.1% of homes have had their prices reduced, showing that many sellers are adjusting their expectations to attract buyers. For sellers, it's important to price your home competitively and make sure it stands out. Buyers might find more opportunities to negotiate given the current market conditions.