Is Denver a seller's market right now?

Right now in Denver, it's not really a market that strongly favors either buyers or sellers. Prices have dipped a bit, and homes are staying on the market for a little longer than before, which gives buyers some room to look around. On the other hand, there aren't a ton of homes for sale, which helps sellers. The median listing price in Denver is $579,798. This price is down a little, about 1.6% from the previous month and 3.4% lower than last year. This suggests prices have softened. There are 12,813 homes actively for sale. This number is slightly lower than last year, down by 2.9%. While new listings have increased by 2.5% over the past year, the overall supply of homes isn't overwhelming. Homes are currently staying on the market for 51 days, which is just slightly less time than last year. Also, about 30.9% of homes have had their prices reduced. Both of these points indicate buyers are being selective and prices aren’t always sticking. For anyone looking to buy or sell in Denver right now, it's a good idea to pay close attention to individual property values and be ready to negotiate. Buyers might find more opportunities, and sellers might need to price their homes competitively.

The Denver area is seeing prices dip, and homes are staying on the market longer than before. This suggests that buyers have more breathing room right now. Fewer new listings are popping up compared to last year, which could mean less fresh choice for buyers. However, overall inventory is still pretty high, giving buyers options. The number of price cuts is also down slightly, meaning fewer sellers are dropping their asking price. What this means for you: If you're selling, you might need to adjust your expectations on pricing, and prepare for a slightly longer sale process. If you're buying, it's a good time to look for opportunities, as prices aren't climbing quickly and inventory is available.