December Market Report - Metro Denver
Last Month's Key Statistics
for Denver's Real estate Market
Attached & Detached Single Family Homes
The average sales price of $706,996 in November declined 3% from last month and rose 2.2% from last year.
- Active Listings: 10,506 down 15.9% from last month | up 12.9% from last year
- Homes Closed: 2,734 down 23.4% from last month | down 13.2% from last year
- Months of Housing Supply: 3.8 months up 0.3 months from last month | up 0.8 months from last year
Quick Stats:
- The average number of active listings for November (1985-2024) is 13,416.
- The record high for November was 27,530 listings in 2006, while the record low was 2,248 in 2021.
- Historically, active listings decline by an average of
13.2
percent from October to November. This year's active decrease of
15.9 percent may indicate slightly softer buyer demand.
And that's wrap! Here's your final market update for 2025.
Are we back to "normal?" Absurd bidding wars, waived contingencies, and double-digit appreciation has been replaced with reasonable negotiations, seller concessions to buyers for inspection items, and modest price gains. Nothing is wrong, broken, or falling apart. It is, in fact, quite normal.
And with normality comes seasonality. We're seeing very similar numbers now as we did in 2024, including the decrease of both supply and demand as we head into winter. It should be safe then to assume that we will see the seasonal increase in both supply and demand in the new year.
Mortgage rates keep bouncing around in the low 6s. They are never low enough to motivate buyers but also not high enough to keep them from buying at all. I do believe once rates move into the 5s and stay there, buyer motivation will increase.
So here's my advice for 2026:
Sellers- enough time has now passed from the glory days, and the new normal is here to stay for the foreseeable future. Sellers who find success these days have reasonable expectations, prepare their properties very well, and listen to the market after going active.
Buyers- If you’ve been waiting for better affordability, now could be your chance. Prices have been flat for a couple of years, and rates have retreated slightly with more low rates expected on the horizon. Buying now, knowing you can likely refinance in the next few years, could be a rewarding strategy.
Happy Holidays and all my best,
Zach Florence
Florence Realty Co. Owner | Broker
