Hot, Cold, and Everything In Between
A Spring Market Snapshot
Denver’s spring real estate market is often as unpredictable as its weather—and this year is no exception. Activity surged one week with strong buyer interest and quick sales, only to slow the next as fluctuating mortgage rates and broader economic uncertainty made buyers more hesitant. Overall, consumer sentiment leaned cautious, with both buyers and sellers ready to engage—but only when the numbers aligned with their personal goals. The market moved with a measured pace, fueled more by life transitions than by speculation or urgency.
One trend that’s held steady since January is the rise in both new listings and active listings at month’s end. While this seasonal increase is expected in spring, the scale this year stands out. At the end of April, there were 11,964 active listings across metro Denver, a 71.16% increase year-over-year, and 7,062 new listings—a jump of 18.13%. According to DMAR, national inventory is on the rise and projected to return to pre-pandemic levels by late 2025. For context, the historical average number of active listings in April (1985–2024) is 13,871. While we’re not back to that baseline yet, we’re closer than we’ve been in years. April’s 22.53% increase in active listings from March outpaced the historic average of 10.96%. Interestingly, this inventory surge didn’t cause prices to fall. Instead, we saw a month-over-month increase in the median sales price. It’s a sign of stabilization, not decline. Zooming out to the Case-Shiller Home Price Index, Denver home values are now 0.4% above Q2 2022 and 0.4% below our Q2 2024 peak. This is a leveling off—not a crash.
Pending home sales dipped slightly month-over-month, down 2.22% for detached homes and 2.43% for attached homes. That may sound surprising given the rise in inventory, but pricing stayed strong. The median sale price for detached homes in April was $665,000, up 0.76%, while attached homes saw a 0.55% increase to $389,900. Compared to last year, attached homes are down 6.05% in median price. Year-to-date, we’re tracking a 1.82% decline in closed transactions year-over-year. This mix of signals—stable pricing alongside fewer pending contracts—points to a market that’s cautious but not cooling off entirely.
As more listings hit the market, days on market has grown longer. Homes spent a median of 13 days on the MLS in April. That’s down from March, but up 62.5% year-over-year. Sellers should be prepared for longer timelines and more negotiation, especially on homes that aren’t move-in ready or priced precisely. Buyers are moving more deliberately, and today’s competitive edge lies in preparation and strategic positioning, not urgency.
For Sellers
With inventory rising and buyers becoming increasingly selective, sellers are entering a competitive environment. Each listing now needs to earn buyer attention. Strategic pricing, thoughtful staging, and strong marketing are essential. While homes are still selling—and median prices are holding—buyers are quick to move on if something doesn’t feel like a good value. One national trend holding strong here in Denver: seller concessions. According to Redfin, 59.2% of home sales in the Denver area during Q1 2025 included some form of seller concession, placing us fifth among major U.S. cities. If you’re thinking about selling, be sure your strategy includes room to negotiate while still protecting your bottom line.
For Buyers
Interest rates, talk of a recession, and fluctuating confidence have many buyers feeling cautious—but prepared buyers are finding opportunity. Focus on your long-term goals and your local reality. The rise in inventory means more choice, more room to negotiate, and more time to make the right decision. That said, desirable homes that are well-prepared and well-priced are still moving fast. Flexibility and preparation are key. And concessions? They’re more common than they’ve been in years—59.2% of Q1 Denver home sales included one, creating chances to offset closing costs or lower your monthly payment. The best deals right now are going to buyers who are clear on their goals and ready to act.
This spring market is complex, but it’s not chaotic. Rising inventory, steady pricing, and a return to negotiation create opportunities—if you know how to spot them. There may not be a one-size-fits-all way to assess this market, and that’s okay. Success right now comes from recognizing that every situation—every buyer, seller, and home—is different. Tailored strategies and personalized guidance matter more than ever. If you’re thinking about making a move or want help navigating today’s market, let’s talk.
*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.