In September, Greater Metro Denver saw both single-family home and condo prices decline year-over-year and from the previous month. Active listings were up 18% from last year but slightly lower than the prior month, with 10,321 listings. New listings increased 12% year-over-year, matching last month and 2022 levels. Pending listings rose compared to last year and last month, but remained well below 2020 and 2021 highs. Homes averaged 39 days on the market, a 35% increase from last year, while showings before going under contract rose 14% to 14.6. Showings per listing stayed stable at 4.9.

Supply - Active Listings

In September, active supply was down slightly month over month (-2.8%) but remained elevated when compared to September 2023, which saw 8,733 active listings.

New Listings

September saw 4,862 new properties enter the market. This data point increased 0.4% when compared to last month, which saw 4,841 new listings. Last year at this time saw 4,341 new listings.

Demand - Pending Sales

Demand, a snapshot of new pending sales, increased by 2.4% when compared to last month. Last year at this time we saw 2,955 pending listings.

Percent of Closed Price to List Price

This data point decreased by 0.2% when compared to last year and was up 0.1% when compared to last month.

Average Days in MLS

September saw the number of days on the market at 39 days, on average. Last year at this time we saw 29 days, on average. Last month saw 37 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 October 2nd, 2024

October 2024: Denver Real Estate Market Update