After wild fluctuations during COVID, Denver’s residential real estate market stabilized and hit reset in October.
“The Denver market has, in many ways, hit its ‘reset button,’” said Amanda Snitker, chair of the DMAR Market Trends Committee, in October’s Denver Metro Association of Realtors’ report.
“We’re not witnessing volatility. We’re seeing normalization. For real estate professionals, this means grounding our strategies in data and confidence, rather than relying on headlines or memories of the past.”
Key indicators tell a clear story. End-of-month inventory rose by 14% year-over-year, while new listings dropped by 5% during the same time.
Those inventory numbers suggest that while more homes are available, fewer are entering the market—a trend that points to a recalibration, rather than a dramatic collapse or surge.
“The market today is not a version of what it once was; it’s a new ecosystem entirely,” Snitker said.
“Interest rates, inventory and buyer behavior have shifted, but instead of chasing the nostalgia of 2019 or the frenzy of 2021, it’s time to ask, what does success look like right now?”
Homes are selling within 98% of their list prices, indicating that buyers are making reasonable offers, and sellers are adjusting their expectations.
Homes also spent less time on the market in October: 31 median days for detached homes and 41 for attached homes.
The total number of homes sold in the 11-county Denver metro year-to-date stands at 36,053, a slight 0.4% dip from the same period last year, indicating stability in buyer interest.
The median sale price for detached homes remained flat at $650,000, while attached homes decreased by 3% to $388,220.
“The Denver metro is neither pre-COVID nor post-COVID. It is stable and surprisingly resilient, yet navigating sustained economic disruption that is being must acutely felt in lower- and middle-income households,” said market trends committee member Michelle Schwinghammer.
“Affordability cannot—and will not—be solved in the near term, but taking steps to mitigate it can help close the gap.”
Instead of following fleeting social media trends, sellers should focus on energy-efficiency upgrades such as heat pumps and insulation, Schwinghammer recommends.
She suggests lowering home insurance premiums by replacing your roof or enhancing fire safety. She also encourages sellers to consider offering rate buydown incentives to attract buyers and sell their home this year.
Buyers should look for well-maintained homes in areas with manageable commutes, she said.
Schwinghammer also urges buyers to continue searching during Denver’s slower fourth quarter and to make an offer that feels right if they find the perfect home.
The news and editorial staffs of The Denver Post had no role in this post’s preparation.