Should I buy new construction or resale in Denver?

The data provided does not distinguish between new construction and resale homes. However, it offers insights into the overall Denver market that can help your decision. The median listing price in the area is $569,900, which is slightly down by 0.9% from the previous month and 4.9% lower than this time last year. The average listing price is higher at $745,322, showing a 5.0% drop compared to a year ago. There are more homes on the market now, with active listings up 6.7% over the past year. However, fewer new homes are coming up for sale, as new listings decreased by 5.9% year-over-year. This suggests buyers might have more options but new inventory is slowing. Homes are selling a bit faster than last year, spending 58 days on the market, which is 4.2% less time. Still, nearly one-third of homes (32.1%) have had their prices reduced, an increase of 1.3% from a year ago. When you're ready to buy, remember that prices are generally lower than they were a year ago, and there are many options to choose from. This could give you more room to negotiate.

There are good reasons to consider both new construction and resale homes in Denver right now. Your best choice will depend on what you value most in a home. The overall market shows some helpful trends to keep in mind for either option.