Housing Market Reports
Year-Over-Year Insights
The Denver Metro housing market remained steady in June. Closed listings increased by 5%, and pending listings were up 6%, both pointing to strong buyer activity. The median closed price rose slightly by 2%, indicating continued, if modest, home value appreciation.
Sellers responded by bringing new inventory to the market with the number of new listings up 3% compared to last June. Setting seller expectations and pricing homes accurately will be crucial in this market as homes are spending six days longer in the MLS than in 2024. Additionally, the original list to closed price ratio dipped to 98.1%, down 1% from last year.
These shifts suggest buyers have gained some leverage, with slightly more room to negotiate and more time to make decisions. Most notably, active inventory has surged 34%, significantly expanding buyer choice and increasing market competition among sellers. Overall, the market continues to favor well-prepared sellers, while offering buyers more opportunity and flexibility than in recent years.
Month-Over-Month Insights
Over the last month the market showed typical signs of seasonal cooling. Closed listings were down 3%, and pending sales dipped by 1%, reflecting a modest slowdown in buyer activity. New listings dropped 16%, further tightening inventory. Homes spent five more days in the MLS, suggesting a slower market pace overall. Despite these shifts, the median closed price rose 2%, signaling continued strength in home values and steady buyer interest for well-positioned homes.
Denver Metro Rental Market
Rental activity gained momentum, with 368 properties leased through REcolorado, a 19% increase from last year. While demand remains strong, pricing saw mixed shifts. The median leased price dropped 3%, and price per bedroom fell 2%, but price per square foot rose 4%, suggesting stronger demand for smaller or more efficient units. Days in the MLS increased slightly to 24, up three days year over year.
