Tis the season… for slowing down
Especially in Denver real estate!
As the holiday season settles into colder days and festive evenings, the Denver Metro housing market follows a familiar and time-tested pattern. Historically, the final quarter of the year brings a noticeable lull: fewer new listings, fewer buyers out touring homes, and many households pausing their real estate plans until after the new year. With gatherings, travel, weather, and long to-do lists competing for attention, it’s no surprise that activity cools long before the temperatures hit their coldest.
Inventory reflects the first signs of this holiday slowdown. Active listings dropped 15.92% month-over-month, reaching 10,506, though still 12.85% higher year-over-year. For additional perspective, the average number of active listings for November from 1985–2024 is 13,416, with a record high of 27,530 in 2006 and a record low of 2,248 in 2021. Today’s inventory sits comfortably between those extremes, underscoring a market that continues to normalize rather than constrict. Meanwhile, new listings fell 41.39% month-over-month—one of the sharpest seasonal declines of the year. This aligns with typical holiday seller behavior: many homeowners temporarily withdraw their listings in November and December, and those with greater timeline flexibility often pause plans altogether until after the new year, when buyers reemerge and activity naturally increases.
Homes also took longer to sell, with median days in the MLS rising to 36—up 9% from October and 26% year-over-year. Detached homes averaged 56 days and attached homes averaged 67. While longer timelines may feel unusual after the frenzied pace of recent years, they reflect a return to a healthier baseline. This was the year the market re-learned what “typical” looks like. After the intensity of bidding wars, waived contingencies, and double-digit appreciation, 2025 brought back the fundamentals: negotiation, steadier timelines, and modest price movement. A home sitting for a month isn’t a red flag—it’s a sign of balance. And buyers negotiating concessions aren’t exploiting weakness; they’re simply participating in a normal, functioning market. Looking toward 2026, those who embrace this balance will be best positioned for success, while those waiting for dramatic extremes—whether a surge or a crash—may find themselves stuck on the sidelines.
Sales activity softened alongside the season. Pending sales fell 11.05% month-over-month, while closed sales dropped 23.37%, mirroring historic holiday slowdowns as travel, weather, and end-of-year demands divert attention away from housing. Yet pending sales remained up 2.45% year-over-year, suggesting a steady foundation of buyer demand even during quieter months.
Price behavior continues to illustrate stability. The median close price dipped just 0.85% from October, landing at $585,000, and remains 0.86% higher than last year. Both detached and attached homes continued closing at just above 98% of list price, demonstrating that values remain solid even as activity slows. This stabilization has helped ease the rapid appreciation of the pandemic years. After values climbed more than 38% from early 2020 through spring 2022, the past three years of slower growth have brought the market back to a healthier place. From March 2020 to November 2025, the cumulative median price increase now stands at 31.5%, an annual average of roughly 6.3%—a pace that aligns far more closely with Denver’s long-term historical norms. Together, these shifts illustrate a market that has moved beyond volatility and into a phase of sustainable, incremental change.
For Sellers
The holiday stretch is traditionally the most challenging time of year for sellers in the Denver Metro market. Many listings are intentionally withdrawn in November and December, with plans to reintroduce them in January or February when buyer activity naturally climbs. Those who remain on the market today face longer days on market and fewer showings, but they also encounter less competition. Buyers who are touring during the holidays tend to be serious and motivated. Success for sellers comes from embracing the realities of the season—leaning into preparation, pricing with intention, and staying flexible. With pricing stable and market fundamentals intact, strong opportunities still exist for homes positioned thoughtfully.
For Buyers
Despite the slower pace heading into winter, current conditions offer encouraging news. The 30-year fixed mortgage rate dipped to approximately 6.23% which is a noticeable improvement from 6.93% at the same time last year. Rates fluctuate daily and may vary slightly by the time this newsletter reaches you, but this shift supports improved affordability. Combined with longer days on market, steadier prices, and reduced competition, this season remains one of the best times of the year to buy in Denver Metro. Buyers who stay engaged while others pause for the holidays often find opportunities that disappear when spring activity resumes.
As we move deeper into the holiday season and toward winter’s official start, Denver’s market is behaving exactly as it should: slowing, balancing, and preparing for the cycle to begin again. Activity has softened, seller behavior has shifted, and buyers are taking their time—but prices remain steady and inventory sits comfortably within historical norms. This is not a market in flux; it’s a market in rhythm. And as 2026 approaches, the steadiness of this moment may be the strongest indicator of a healthy, predictable year ahead.
(Info Source: D.M.A.R. (The Denver Metro Association of Realtors, YCRE Analysis)
*We use reasonable efforts to include accurate and up-to-date information. The real estate market changes often. We make no guarantees of future real estate performance and assume no liability for any errors of omission in the content.