Monthly Market Updates
February delivered a fresh burst of energy to Denver’s housing market, with buyers and sellers alike gaining momentum as the city gears up for the spring season. Warmer temperatures and a brighter outlook helped fuel an increase in inventory and buyer activity, with multiple offers even making a comeback in certain segments.
According to the latest Denver Metro Association of Realtors (DMAR) Market Trends Report, seller activity surged in February, with new listings jumping 11.17% month-over-month and 13.81% year-over-year. This influx of listings is a promising sign after several years of lower inventory, as homeowners become more willing to make moves despite mortgage rates still hovering above 6.5%. Amanda Snitker, Chair of the DMAR Market Trends Committee, noted, “As time passes, our lives evolve, and the low interest rate carries less weight when considering staying in a home that no longer meets our needs.”
With 4,828 new listings hitting the market in February and 3,516 homes going under contract, buyers had more options to choose from. Pending home sales rose significantly—up 19.92% for attached properties and 23.27% for detached homes compared to January—indicating that demand is keeping pace with rising inventory. While total home sales were down 17.29% from last year, home values remained resilient, with the median close price for both attached and detached properties at $599,990, up 4.35% over last year
According to The Denver Post, the market’s upward shift is partially driven by mortgage rates that have begun trending downward since the start of the year, encouraging hesitant buyers to step forward. Homes also sold more quickly in February, with the median days on the market dropping to 27 for detached homes, a 37.21% decrease from the previous month, and 42 for attached homes, a 12.5% dip.
Although inventory remains below historical norms, buyers are seeing more choices, and sellers are adapting to current conditions. Homes that are well-priced and well-maintained continue to attract strong interest and quick sales, while overpricing can lead to longer market times and potential price reductions.
As spring approaches, Denver’s housing market is poised for a strong season, with rising seller participation and motivated buyers fueling steady momentum. Whether buying or selling, staying informed and strategic will be key in navigating this evolving landscape.
