In October, Greater Metro Denver’s real estate market saw a 17% increase in active listings YoY, the highest since 2013, and an 18% rise in pending sales. Homes averaged 43 days on the market—up 10% from last month and 39% from last year. Notably, attached (condo/townhome) and detached (single-family) markets are reacting differently to high rates, with attached properties showing signs of a slowdown.

Supply - Active Listings

In October, active supply was down slightly month over month (-6.7%) but remained elevated when compared to October 2023, which saw 8,717 active listings.

New Listings

October saw 4,314 new properties enter the market. This data point decreased 10.7% when compared to last month, which saw 4,829 new listings. Last year at this time saw 3,627 new listings.

Demand - Pending Sales

Demand, a snapshot of new pending sales, decreased by 1.6% when compared to last month. Last year at this time we saw 2,900 pending sales.

Percent of Closed Price to List Price

This data point decreased by 0.3% when compared to last year and was down 0.2% when compared to last month.

Average Days in MLS

October saw the number of days on the market at 43 days, on average. Last year at this time we saw 31 days, on average. Last month saw 39 days.

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Reports based on data from REColorado®, Inc.

GREATER METRO DENVER INCLUDES THE FOLLOWING COUNTIES:

Arapahoe, Adams, Broomfield, Denver, Douglas, Elbert and Jefferson
Reports are based on information from REColorado®, Inc. for the period shown in title. Note: This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by REColorado®, Inc. may not reflect all real estate activity in the market. •Information deemed reliable but not guaranteed.

Mortgage Data Source: Freddie Mac

Posted by Neil Walton on November 1st, 2024

November 2024: Denver Real Estate Market Update