Despite Denver’s real estate market being one of the most competitive in the US, housing prices are beginning to level off. This is largely in part due to the increase of new listings on the market. According to the Denver Metro Association of Realtors (DMAR), new listings were up 13.1% from the previous year for single family homes and 10.6% for townhouse-condo properties. Nonetheless, the median sales prices are up 1.8% for single family homes and 2.3% for townhouse-condo properties. Consequently, houses are staying on the market for an average of 31 days in April (19.2% longer than a year ago) for family homes and 29 days in April (31.8% longer) for condo properties. As a result of the combination of all of these factors, more homes are selling for less than asking price. While this may point to a shift in favor of the buyers, there is no sign of drastic price drops in the coming years because of the hot market in Denver.

As a matter of fact, since 2012 when the housing market crashed, the nation’s average home value increase was 50%. However, in certain zip codes in Denver, home values have gone up by 90% (click here to see best Denver-area ZIP codes to flip a home). So while there might be decreasing competition in some of the suburbs of Denver, the Denver core is still a hot market. Regardless, buyers have more options now than they did a year ago.

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.