Falling Into Balance
Denver’s Market Finds Its Rhythm
As the seasons change, so does the market’s tempo. September brought a sense of steadiness — a far cry from the wild fluctuations of 2020 through 2022. The shifts we’re seeing now are smaller, more measured, and in many ways, healthier. While these micro-adjustments may seem uneventful compared to the dramatic swings of recent years, they reveal something more refined: a nuanced buyer and a nuanced seller, each requiring tenacity, trust, and expertise to make the perfect match. Buyer activity held firm, with only a slight dip in closings and a modest uptick in new contracts through late September. At the same time, homes continued to spend more time on the market, maintaining a dynamic where buyers have room to negotiate and sellers benefit from thoughtful pricing and strong presentation.
Inventory levels remain a defining feature of this balanced environment. Options for buyers continued to grow in September, with new listings rising month-over-month for both detached (3.87%) and attached (12.74%) homes. Active inventory at month’s end climbed 17.62% year-over-year and now sits 70.17% above September 2022 levels. This expansion reflects the ongoing normalization of supply and demand—a cooling of the feverish pace of years past, but far from stagnation. Historically, the average number of active listings for September (1985–2024) is 15,149, with a record high of 31,450 in 2006 and a record low of just 3,971 in 2021.
Homes are also taking longer to sell. The average number of days a property spent in the MLS rose from 30 in August to 35 in September—a 16.67% month-over-month increase and 40% higher than last year. This shift underscores the growing importance of pricing precision and presentation. Sellers who can balance patience with proactivity—knowing when to wait for the right buyer and when to adjust—will continue to find success, even as buyers take more time to decide.
Pending and closed transactions reflected a steady, healthy level of engagement. A total of 3,366 homes closed during the month—a minimal 0.27% decrease from last September—while 3,585 went under contract, up 3.37% year-over-year. Buyers remain active, but with greater discernment than urgency. This measured pace signals a market that’s neither overheated nor sluggish, but one settling into a sustainable rhythm.
Pricing trends continue to reinforce that theme of balance. Buyers remain drawn to detached homes, where sales volume rose 6.55% year-over-year. The attached market, meanwhile, faces continued headwinds from rising insurance costs and higher community dues, contributing to a 16.78% decline in sales volume. Still, price movement across both segments was modest—another marker of stability. Detached homes saw a 1.79% month-over-month dip in median sale price, while attached homes increased 1.17%. Year-over-year, detached homes gained 1.33%, while attached homes fell 3.35%. Overall, Denver’s median closed price for September was $589,900, up 2.59% from last year, while the average reached $694,658—an annual gain of 2.89%. Both measures reflect pricing resilience within a steady, balanced market.
For Sellers
This market rewards preparation, patience, and precision. Homes that sell quickly today are those that shine from day one. That means addressing known issues before listing, ensuring the home is spotless and organized, staging thoughtfully, and investing in professional photography and marketing. The days of overnight offers may have passed, but well-prepared listings still stand out—and attract serious buyers willing to pay fair market value.
For Buyers
The current landscape offers room to breathe. Inventory remains solid, competition has eased, and more homes are lingering on the market long enough to allow for careful comparison. With stable pricing and moderate activity, this is an environment that rewards thoughtfulness. Buyers who are clear about their goals and ready to act when the right home appears will find genuine opportunity, especially as fall ushers in a slower, more deliberate market pace.
As the Denver Metro market transitions alongside the seasons, what stands out is balance. Inventory, prices, and activity levels are aligning in ways that create opportunity on both sides of the table. The days of dramatic swings are behind us—for now—and what’s emerging instead is a steady, sustainable rhythm. Whether you’re buying, selling, or simply staying tuned in, this period of stability is one to appreciate—and to plan around thoughtfully for the months ahead.
*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.