Buyers in the Denver metro continue to favor detached homes, with September sales in that category up 7% year-over-year, while sales of attached homes fell by 17%.
In the detached home market, there are 9,001 active listings year-to-date, according to the Denver Metro Association of Realtors’ monthly report.
This figure represents an 18% increase from 7,646 in 2024, a 66% increase from 5,435 in 2023, a 55% increase from 5,798 in 2022, and a remarkable 221% increase from 2,803 in 2021.
The median days on the market for detached properties is 18 days, which marks a significant 350% rise from 4 days in 2021.
In the attached homes sector, there are 4,073 active listings, reflecting a 17% increase from 3,469 in 2024, an 86% increase from 2,194 in 2023, a 116% increase from 1,885 in 2022, and a striking 249% increase from 1,168 in 2021.
The median days on the market for attached homes is 32 days, a substantial 540% increase from 5 days in 2021.
“Attached homes continue to see challenges in the increased costs of insurance and community maintenance, resulting in higher-than-historically-typical community dues,” said Amanda Snitker, chair of the DMAR market trends committee.
Colleen Covell, an agent with Compass-Denver and a member of the market trends committee, said September typically creates a surge in sales activity.
In the $1 million-plus home category, detached homes saw a slight increase in activity last month. But attached homes continued to experience dismal activity.
“Both detached and attached homes in this segment saw a surge in new listings hitting the market, up 19.18% and 24.39%, respectively, from August,” Covell said.
“But that is where the similarities ended. For detached homes over $1 million, pending sales increased by 5.23% month-over-month, while the number of attached contracts dropped by 7.69%. Total sales volume for detached homes year-to-date was up over 7% from this time last year, while sales volume for attached homes over the same period was down almost 25%.”
The most notable difference in months of inventory appears in the $1 million-plus segment, which typically has the highest levels due to a smaller pool of buyers.
In September, detached homes had 4 months of inventory for properties priced between $1 million and $1.49 million, and 7 months of inventory for those priced over $2 million.
In comparison, attached homes showed even higher inventory levels: 21 months for those priced between $1.5 million and $1.99 million, and 30 months for those over $2 million.
“Sellers in this extreme buyer’s market need to be realistic about pricing as well as exceptionally patient,” she said.
The news and editorial staffs of The Denver Post had no role in this post’s preparation.