Should I wait to buy a home in Denver?

It might be a good time to buy a home in Denver because prices are a bit lower than last year, and homes are staying on the market longer. However, inventory is still pretty tight, so you might not have a ton of choices.Prices in Denver are down slightly compared to last year. The median listing price is $589,000, which is 3.4% less than it was over the past year. The average listing price also dropped by 3.3% to $772,328.Homes are taking a little longer to sell right now. The median time a house spends on the market is 48 days, which is 6.7% longer than last year. This means you might have more time to think about your offer.Currently, there are 12,572 homes for sale, which is almost 5% fewer than over the past year. This low number of homes available means you'll have less to choose from, even with slightly lower prices. Also, about 29% of homes have had their prices reduced, a smaller share than last year.Since prices are down a bit and homes are staying on the market longer, you might find a good opportunity if you're ready to buy. However, be prepared for fewer options due to the low number of homes listed.

It might be a good time to buy a home in Denver if you have been waiting. The typical home price is a little lower than it was a year ago, and homes are staying on the market longer. This could give you more choices and a bit more negotiating power. The median listing price in Denver right now is $589,000. This is actually 3.4% less than what homes were listed for at the same time last year. Even the average listing price is down by 3.3% over the past year, sitting at $772,328. This means prices have softened a bit, which can be helpful for buyers. There are 12,572 active listings right now, which is almost 5% fewer homes available compared to a year ago. However, even with fewer homes, homes are taking longer to sell. The typical home stays on the market for 48 days, which is about a week longer than last year. Also, nearly three out of every ten homes—29%—have had their prices cut, which is slightly less than last year. For you as a buyer, these trends suggest a market where homes are slightly more affordable and you have more time to make a decision. There's less pressure to jump on the first home you see.