Denver Housing Market

Denver's inventory remains elevated compared to the tight conditions that defined the early 2020s, giving buyers more time to compare homes and negotiate terms. At the same time, demand for well-priced single-family homes has remained resilient, helping keep prices on an upward path despite a slower pace of sales.

Denver home buyers continued to take a measured approach this summer. Higher mortgage costs and slower economic growth have made many households more careful about large purchases. The local labor market has softened over the past year, and the Mile High City added just 10,945 people between July 2024 and July 2025, down sharply from the nearly 50,000 new residents added the year before. That has kept housing demand from rebounding as quickly as in many other major U.S. markets. While buyers remain in the market, they appear to be taking more time to weigh their options and focus on homes that best fit their long-term needs.

The number of homes on the market remains elevated with over 16,000 homes for sale. While listings dipped slightly compared to last year, inventory is still dramatically higher than it was in the early 2020’s when homes were scarce and selling quickly. Today, buyers have more options and more time to decide, while sellers may need to be flexible on price or incentives to close a deal.

View the latest homes for sale in Denver.

Buyers may have more options today than they did a few years ago, but home prices remain stubbornly high. The median home price in Denver rose 3.4% from the previous year in July to about $599,950, keeping the metro among the nation's most expensive housing markets.

Not all segments of the market are performing the same way. Single-family homes continued to attract the strongest buyer interest, while condos and townhomes are lagging. An oversupply of new apartments, and the discounts landlords are offering, may be pulling some buyers toward renting instead.

The median home sale price in Denver increased by 3.4% compared to the same time last year, while the national median price rose by 2.6%.

Denver median home prices rose by $19,950 year over year on a nominal basis in July to $599,950. Meanwhile, the national median home price increased by $10,000 to $400,000.

Denver was the ninth highest-priced housing market among the top 40 largest markets last month. The Denver median home price of $599,950 was 50% above the national median home price. Denver's median home price in July compares to the market's peak of $620,000 recorded in April of 2022.

The median price of Denver single-family homes rose by $11,000 over the past year to $660,000, while the median townhome price declined by 5.4%, and the median condo price fell by 3%.

The number of homes for sale in Denver decreased by 1.3% in July compared to the same time last year, while national homes for sale rose by 4.4%.

Denver homes for sale fell by 219 year over year in July to 16,113 homes for sale. Denver ranked 28th, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in July.

Denver homes for sale were above their pre-pandemic levels in the month of July. Denver homes for sale were 29.2% above the July 2019 total of 12,470.

Denver single-family homes for sale decreased by 5% to 10,469 in July. In comparison, townhomes for sale rose by 3.2% to 2,490, and condos for sale increased by 8.7% to 3,154.

The number of home sales in Denver decreased by 1.4% in July compared to the same time last year, while national home sales rose by 2.9%.

Denver home sales declined by 51 year over year on a nominal basis in July to 3,713. For context, 3,764 sales closed in Denver in July 2025.

Denver ranked 32nd for the annual change in home sales out of the top 40 U.S. markets in July on a percentage basis. This year's July decrease of 1.4% compares to the 2.4% year over year decrease in July 2025.

Denver single-family sales increased by 1.0% in July to 2,852. In comparison, townhome sales fell by 7.9% to 454, and condo sales fell by 9.2% to 407.

For questions and commentary about this report:

Jeannie Tobin, Director of Market Analytics at CoStar and Homes.com, based in Denver, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Jeannie Tobin

Director of Market Analytics

Homes.com

jtobin@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Denver during July 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Days on Market

The median number of days from initial listing to closing of properties whose closing occurred during the month. This data includes detached, attached, and condominium homes. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Months of Supply (MOS)

Months of Supply (MOS) is equal to active listings divided by homes sold in a given month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Sale to List Price Ratio

The sale-to-list price ratio is the ratio of the sale (closing) price to the original list price, whose closing occurred during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new constructi