DMAR Real Estate Market Trends Report | Aug. '25
The Denver Metro housing market may not be making bold moves right now, but that does not mean the story is simple. In fact, 2025 has been defined by a steady, almost stubborn stagnancy. Prices have remained relatively stable for much of the year, with buyer activity mirroring 2024 levels. Although interest rates continue to weigh on affordability, they have not sparked dramatic changes in buyer or seller behavior. On the surface, the market looks quiet, maybe even predictable.
A high-level look at the Denver Metro market in August includes price changes, days in the MLS and inventory levels. Price changes throughout the year have been modest, and August reflected this trend with a slight 0.15 percent decrease in median close price for detached homes and a 1.28 percent decrease for attached. Days in the MLS increased by a median of six days for both attached and detached homes.
Inventory, however, is where we see the sharpest contrast. Through the end of August, 45,868 new listings hit the market in 2025, up 10.49 percent year-over-year - yet active listings climbed even more, up 21.77 percent. Despite this, buyer demand has stayed steady, with closed sales nearly identical to 2024 levels.
The bigger divide is between homes that sell quickly and those that linger. Of the properties that closed in August, only 1.12 percent had a price reduction, with a median adjustment of just 2.95 percent. Compare that to current active listings, where 58 percent have reduced their price, with a median drop of 4.52 percent. A significantly larger divide exists for homes that have been on the market for more than 30 days; 74 percent have taken a price cut, with a median change of 4.76 percent. This gap underscores the importance of strategic pricing from the start. Homes priced appropriately are selling with little or no reduction, while overpricing often leads to extended days on the market and steeper price adjustments. While the median closed prices have stayed relatively stable, sellers continue to push against buyers' price tolerance.
“As we enter the fall months, there is little expectation for the market to change as we round out the year,” said Amanda Snitker, Chair of the DMAR Market Trends Committee and Metro Denver Realtor®. “September is a notoriously volatile month for markets, and the anticipation of a Federal Reserve rate cut this month could increase uncertainty regarding the impact on mortgage rates. Factors such as unemployment, inflation and tariffs may ultimately undermine the intended benefits of any rate cut.”
Added Snitker, “For Denver real estate, a stagnant market does not mean an easy one to understand. Data alone does not tell the full story. If you cannot understand the trends or refuse to see the story they reveal, charts and stats are meaningless. Understanding how the trends connect to real buyer and seller decisions is what truly matters.”
Our monthly report also includes statistics and analyses in its supplemental markets that include properties sold for $1 million or greater, properties sold between $750,000 and $999,999 and properties sold between $500,000 and $749,999.
In the $1 million+ segment, there are dramatic differences between the detached and attached markets. Out of the 650 total listings, 606, or 93.23 percent, were single-family detached properties. Closings reflect a similar trend, with 94.1 percent of homes sold above $1 million being detached properties. If a “balanced" market is defined as three to six months of inventory, the detached market becomes a buyer’s market over $2 million, while the attached market becomes a buyer’s market above $1.5 million. In the $1 million to $1,499,999 range, both detached and attached properties have relatively similar inventory levels, at 3.63 and 3.75 months, respectively.
Even though average days in the MLS have increased by 24.39 percent, high-end properties continued to sell. In August, the highest-selling recorded detached property sold for $9.75 million in 41 days, while the highest-selling attached property sold for $3.85 million after 74 days on the market. While some are holding off for the hope that interest rates will decrease, many see opportunity. Year-to-date, the average property is still selling for more than the previous year, even though the days in the MLS have increased and the close-price-to-list-price ratio is down compared to the past five years.
“Essentially, properties are being listed higher, negotiated down, but still selling for more on average than in the past two years,” said Andrew Abrams, DMAR Market Trends Committee member and Metro Denver Realtor®. “Denver Metro has seen more $1 million buyers than in the previous two years. While these buyers are taking longer to make decisions and negotiating more aggressively, average prices have held steady. As we transition into the back-to-school market, setting realistic expectations is key to reducing stress along the way.”
Highlights from closed transactions in August include the highest-priced attached home at 335 Clayton Street in Denver, which sold for $3,850,000 and the highest detached sale at 5650 E Stanford Drive in Cherry Hills Village, which sold for $9,750,000. Both buyer and listing agent are current DMAR Realtor® members.
