5 years after COVID-19 pushed Denver’s actual property market into overdrive, dwelling patrons and sellers proceed to navigate a regularly evolving panorama.
In keeping with the March month-to-month tendencies report from the Denver Metro Affiliation of Realtors:
- The median dwelling sale worth in March was $599,000. That’s down 3.9% from its April 2022 peak, but it surely nonetheless reveals a 6.92% annual appreciation over the previous 5 years.
- New listings for the primary quarter of this yr (15,529) greater than doubled in comparison with the primary quarter of 2020 (6,666).
- Regardless of elevated stock, gross sales haven’t stored tempo. The metro recorded 1,061 closed gross sales for the primary quarter of 2025. That’s up 7% from 988 in 2024, up 22% from 870 in 2023, down 8% from 1,147 in 2022, and up 20% from 885 in 2021.
Pandemic shocked housing market
Amanda Snitker, chair of the DMAR Market Tendencies Committee, stated the pandemic triggered a necessity for change for dwelling patrons.
“Whether or not it was a necessity for dwelling workplaces and a spot to high school youngsters or a yard for the youngsters and canine who might now not entry faculty and park playgrounds, a spot with a house health club or a indifferent dwelling with out public entry factors and elevators – this sudden urge was nearly primal, a must entry area that felt secure,” Snitker stated.
Demand and low rates of interest created a surge, resulting in a peak median sale worth of $616,500 in April 2022.
Now, the market is balancing. Snitker stated patrons now not really feel the identical urgency to purchase, so sellers should create that urgency by presenting a stupendous dwelling at a gorgeous worth.
“The excellent news for patrons on this present market is that the pricing rebalance has allowed the drastic worth bounce to even out,” she stated.
“Sellers are in a distinct place than in 2020-2022; patrons are pickier and on the lookout for houses which were well-maintained, require minimal updating and, in fact, are priced competitively for the present market circumstances.”
Keri Duffy, a member of the market tendencies committee and a Kentwood Actual Property agent, stated that in peak pandemic purchaser demand, when distant work eradicated commute considerations, patrons selected houses within the foothills and the countryside.
“Patrons ignored poor places and outdated houses simply to get their foot within the door,” she stated.
Now, patrons will await the correct dwelling and present little curiosity in houses that want updates or are overpriced.
“For sellers, strategic pricing is extra essential than ever,” Duffy stated. “Houses which can be move-in prepared and well-presented nonetheless command robust presents, whereas these needing work could linger.”
Spring market tendencies
Colleen Covell, a market tendencies committee member and Milehighmodern agent, stated Denver’s busy promoting season begins in March and winds down in late Might.
In March, the $1 million-plus market skilled a major improve in stock. However patrons have been cautious, which led to extra gross sales at decrease costs, Covell stated.
“Does this imply we’re in a full purchaser’s marketplace for the $1 million section? It relies upon,” Covell stated.
“The lower-priced indifferent houses on this section are nonetheless very aggressive, with solely about three months of stock. However sellers of higher-priced houses will face a difficult market.”
Within the $2 million-plus market, indifferent houses have six months of stock and hooked up houses 9 months of stock.
The information and editorial staffs of The Denver Put up had no position on this submit’s preparation.
