September always brings a natural rhythm change to the Denver housing market — the kids are back in school, buyers and sellers find their fall groove, and the energy shifts from summer spontaneity to strategy. This year, that rhythm arrived with a quiet steadiness. Prices, rates, and buyer behavior have followed a remarkably consistent path through 2025, and as Q3 came to a close, the market showed its first signs of recalibration. Interest rates, which have shaped much of this year, are finally showing early signs of easing.
The seasonality and economic conditions we’re seeing now are micro adjustments compared to the big swings of 2020 through 2022. These smaller shifts may feel less dramatic, and they’re every bit as meaningful. They highlight a nuanced buyer and seller — one that requires timing, patience, and expertise to make the perfect match.
Options continue to expand for buyers. In September, new listings increased slightly for both attached and detached homes — up 12.74 percent and 3.87 percent respectively. Active inventory at month’s end rose 17.62 percent year-over-year and 70.17 percent from 2022. Overall, 4,968 new listings hit the market in September, up 6.18 percent from August, while active listings totaled 13,074 — nearly flat month-over-month and giving buyers more to choose from than we’ve seen in years.
Buyers are continuing to favor detached homes over attached ones. Detached sales volume climbed 6.55 percent year-over-year, while attached home sales volume dropped 16.78 percent. Rising insurance and community maintenance costs continue to impact attached homes, leading to higher-than-typical HOA dues and making detached homes the more appealing choice.
The market has seen a large number of price reductions, and interestingly, detached homes only saw a small month-over-month price decline of 1.79 percent, while attached homes increased by 1.17 percent. Year-over-year, detached homes were up 1.33 percent, and attached homes rose 3.35 percent. Across all property types, the median close price landed at $589,900 — down just 0.56 percent from last month — a soft correction, not a slide.
The number of days homes spent on the market increased to 35, up 16.67 percent from August. Total sales volume came in at $2.34 billion, down 11.52 percent month-over-month, with 3,366 homes closing in September — an 8.78 percent decline. Months of inventory rose to 3.89, up 8.36 percent, signaling a calmer, more balanced market where buyers have time to shop, compare, and negotiate.
The stress on buyers eased slightly this month when the Fed cut rates by 25 basis points. It was a welcome adjustment and not enough to trigger a wave of activity. Many buyers remain thoughtful and cautious, waiting to see whether additional cuts are coming and how inflation and employment trends play out.
Sellers, meanwhile, are operating in a market that rewards precision. Smart pricing is everything — comparing your home to current actives and pendings instead of sales from six months ago. Pre-listing inspections and proactive repairs are becoming more common as sellers aim to present clean, move-in-ready homes and minimize credit requests later in the deal. With affordability still top of mind, seller-offered rate buydowns have also become an effective strategy to attract serious buyers.
Across the board, the Denver market is showing resilience and not volatility. It’s a market that rewards smart decisions, patience, and collaboration. The dramatic highs and lows of previous years have been replaced by steady, calculated movement — and that’s exactly the kind of environment where an experienced, strategic approach matters most.
This is what I call a market of opportunity — one that allows buyers and sellers alike to move thoughtfully and with confidence. If you’ve been curious about buying, selling, or simply keeping an eye on your home’s value, now’s the time to have that conversation. The market is shifting quietly, and opportunity is still there for those who know where to look — and how to play it smart.
