Is now a good time to sell my home in Denver?

Selling your home in Denver right now means facing a market where prices have dipped a bit and there's more competition from other homes for sale. However, homes are selling a little faster than they were a year ago. The median listing price is $569,900. This is a small drop of 0.9% from the previous month and a larger drop of 4.9% compared to the same time last year. The average listing price also decreased by 5.0% over the past year, and the price per square foot is down 3.1%. There are 13,365 homes actively listed, which is 6.7% more than a year ago. This means more choices for buyers. New homes coming onto the market have decreased by 5.9% over the past year, with 4,198 new listings in the most recent month. Homes are taking 58 days to sell on average, which is a bit faster (4.2% quicker) than last year. However, a third of homes, or 32.1%, have had their prices reduced, showing that some sellers are adjusting their expectations. If you're thinking of selling, be prepared that prices have softened recently, and you'll have more homes to compete with. Pricing your home competitively from the start will be key to attracting buyers quickly.

Selling your home right now means accepting a lower price compared to last year, as the median listing price has dropped. However, homes are selling a little faster than they were a year ago. The median listing price is currently $574,900. This is 0.8% lower than the prior month and 4.2% lower compared to last year. This means sellers are, on average, asking for less money for their homes than they were twelve months ago. More homes are coming onto the market, with new listings up 6.4% over the past year. Even with more new homes available, the total number of active listings has only slightly increased by 2.1%. Homes are sitting on the market for an average of 57 days, which is slightly quicker than last year. However, about one-third of homes are having their prices reduced before they sell, suggesting buyers are looking for deals. Considering these factors, if you are a seller, be prepared that your home might sell for less than it would have a year ago, and you might need to adjust your asking price to attract buyers.