• Increased Buyer Activity - In August, buyer activity rose with 3,877 home contracts executed, a 10% increase from last year and 6% higher than July 2024. This uptick is driven by decreasing interest rates and a larger inventory.

  • Record Inventory Levels - The Denver metro area saw 10,497 active home listings in August, the highest level in over a decade and the second consecutive month surpassing 10,000 listings. Inventory is high due to more new listings coming on the market than closings.

  • Extended Home-Selling Timelines - Homes spent a median of 22 days on the market in August, 10 days longer than last year and 5 days longer than the previous month. This longer duration reflects a more balanced market where buyers have more time to make decisions.

  • Stable but Moderate Pricing - The median closed price for homes in August was $590,000, up 1% from last year but down 2% from July. This indicates a stable market with moderated home prices

  • Active Rental Market - The rental market saw 329 properties leased in August at a median price of $2,965, which is 2% higher than last year. There were 505 new rental listings added, bringing the total number of active rental properties to 707, a 5% increase from the previous month.

*Information provided by REColorado. Click here for the full report.