Should I buy new construction or resale in Denver?

Deciding between new construction and a resale home depends on what you value most, as both have pros and cons. I can share insights into the current housing market conditions in Denver right now to help with your decision. Right now, the median listing price in the Denver area is $574,900. This is a bit lower than last year, down 4.2%, and also slightly down by 0.8% from the prior month. This means prices have softened a little recently. There are more homes on the market now compared to last year, with active listings up 2.1%. This gives you more options to choose from. Also, new listings coming onto the market have increased by 6.4% over the past year. Homes are selling a bit faster than last year, with the median time on market at 57 days, a slight drop of 1.7%. However, about one-third of homes, 31.4%, have had their prices reduced, suggesting some buyers are finding room to negotiate. Given the slight price drops and increased inventory, you might have more choices and a bit more negotiating power. Consider if a ready-to-move-in resale with established landscaping or a customizable new build best fits your needs.

There isn't enough specific data here to tell you if new construction or resale is better for your situation. The market has seen some price adjustments. Many homes are also getting price reductions.