As your trusted Denver real estate advisor, I believe clarity and context are essential for smart decisions. July’s figures reflect subtle shifts in the Greater Metro Denver market that merit attention—whether you’re buying, selling, or strategizing your next move.
Price Trends: Slight Cooldown with Stability
-
Single-family homes recorded an average closed price of $780,704, down 3.6% from June and 0.6% year-over-year.
-
The median closed price slipped to $650,000, a 1.5% dip from June and 0.8% below July 2024.
These changes signal a modest cooling, but prices remain resilient compared to pre‑2023 levels.
-
Condos and townhomes saw sharper declines, with an average closed price of $421,218 (‑4.1% MoM, ‑7.3% YoY) and a median of $389,500 (‑2.6% MoM, ‑5.5% YoY).
There’s clear pressure in entry-level segments—potential opportunity zones for first‑time buyers and investors.
Square-Foot Pricing: Down Across the Board
-
Single-family homes dropped to $287 per sq ft (‑2.4% MoM, ‑1.0% YoY).
-
Condos/townhomes averaged $307 per sq ft, down 1.6% MoM and 5.5% YoY.
Falling per‑square‑foot rates suggest more negotiation room and a shift toward buyer-favorable dynamics.
Inventory & Listings: More Supply, Fewer Fresh Entries
-
Active listings rose to 12,934—a notable 27% increase YoY.
-
By contrast, new listings dipped to 5,105, down 8% from June but still up 5.4% from July 2024.
This signals that while the market feels looser for buyers, sellers are pacing their listings thoughtfully.
Buyer Demand & Market Timing
-
Pending sales totaled 3,747, a slight 2.1% drop from June but a 4.9% rise year-over-year.
-
Months of supply edged down to 3.70, though it remains above last year’s 3.10, pointing toward a slowly balancing market.
-
Homes stayed on the market for 40 days on average—an 11.1% increase MoM and 33.3% YoY.
-
Closed price to list price ratio dipped to 98.8%, compared to 99.1% in both June and July of 2024.
-
Showings improved slightly: 4.6 per listing (up 4.5% MoM) and 14.1 per pending sale, reflecting cautious but renewed buyer engagement.
Market Outlook: A Shift Toward Balance—and Buyer Leverage
-
With 38% of listings undergoing price cuts, Denver leads the nation in seller adjustments—a sign of a healthy market reset.
-
Inventory has doubled since pre-pandemic levels, further tipping the scales toward buyers.
The result: elevated buyer negotiating power and a more deliberate pace—now is a thoughtful time to act, not rush.
What This Means for You
Buyers: You have more options than you’ve seen in years. There’s breathing room to look, negotiate, and secure favorable terms—especially in condos and townhomes. Stay proactive and strategic—that’s the edge right now.
Sellers: It’s still possible to attract serious offers—but timing, pricing, and presentation matter more than ever. Pricing strategies need to reflect today’s more measured market, not yesterday’s frenzy.
Let’s connect to explore what this shift means for your goals—whether you’re ready to engage now or just tracking the best moment to move. I’m here to guide you with insight, clarity, and confidence.
