If there’s one word to describe the current market, it’s this: patience.
We're living in a fast-paced world, but Denver real estate is reminding all of us—buyers and sellers alike—that some of the best moves take time.
We’re seeing more homes hit the market than we have in years. In May alone, nearly 30,000 new properties entered the Denver Metro market—up over 17% from this time last year. That’s a big jump, and it’s giving buyers more breathing room to explore options, negotiate, and wait for the right fit.
📈 Quick Stats You Should Know:
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Active listings climbed to 13,599, a 13.67% increase from April and up 48.5% year-over-year.
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That’s the highest inventory level since 2011.
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The average for active listings in May between 1985–2024 is around 14,500, so we’re right in line with historic norms—but a huge leap from the record low of 2,075 listings in May 2021.
Even with all that inventory, not everything is flying off the shelves. Desirable, well-located, move-in-ready homes that are priced right are still moving quickly—spending just 16 days on the MLS in May. But homes that miss the mark in location, condition, or pricing? They’re sitting longer, with average days on market now hovering around 45.
💡 My take?
This is a market of opportunity—but only if you're strategic. Buyers have more leverage, and sellers need to be sharp on presentation, pricing, and patience.
📍 Local Insights You Might’ve Missed:
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Erie, Colorado, was just ranked the 15th fastest-growing town in the U.S.
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Denver’s active listings jumped 67.3% year-over-year in March—more than double the national average.
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Colorado saw 21% of homes reduce price last month—ranking us among the top states for price drops.
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Downtown Denver is still struggling post-pandemic, with slower commercial recovery compared to other major cities.
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On the bright side: Denver was just ranked one of the best city park systems in the U.S. by the Trust for Public Land.
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Governor Polis is pushing hard to solve Colorado’s 100,000-unit housing shortage—rolling out new funding from Prop 123 and issuing executive orders to enforce housing-friendly laws (think: ADUs, reduced occupancy restrictions).
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New developments? Yep. From Zebulon Sports Complex in Douglas County to a new apartment and retail hub in Cap Hill, momentum is still building.
🏘️ National Real Estate Pulse:
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Mortgage rates stabilized in May, moving within a slim 0.20% band—giving buyers a bit more predictability.
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We’ve now had 17 straight weeks of year-over-year increases in mortgage purchase applications.
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Buyers choosing new construction homes are saving an average of 0.5% on interest rates, thanks to builder incentives. That’s about $100/month in savings on a $400K home.
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Nationally, property taxes are up 10.4% since 2021, averaging $2,969/year per household.
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And in a fun twist: 84% of homeowners now prioritize joy over ROI when it comes to home projects. Think: sunrooms, pools, home gyms, and hobby spaces.
🎯 What It All Means for You:
Denver is still shifting. This isn’t a runaway seller’s market anymore. It’s not a super soft buyer’s market either. It’s a strategic, opportunity-driven market where success hinges on having a plan, staying flexible, and trusting the process.
If you're a buyer, you’ve got options—and possibly even some negotiating power. If you're selling, it's all about being realistic and ready. Pricing and presentation are everything.
Let’s talk about what this market means for you specifically. Whether you're thinking about buying, prepping to sell, or just curious about where things are headed, I'm always here to be your guide in this ever-evolving Denver market.
