DMAR Real Estate Market Trends Report | MAR. '26

Just as rising mortgage rates threatened to stall the momentum building through February, buyers responded with conviction. March, then, served as a reminder that in Denver, volatility and opportunity often arrive together. In a predictably unpredictable environment, the buyers and sellers who showed up prepared were rewarded.

Rates climbed back above six percent throughout the month, geopolitical uncertainty rattled financial markets, and new inventory increased by 19.94 percent from February; however, the fundamentals of the Denver market remained intact as buyers absorbed the new inventory quickly — pending sales jumped 30.69 percent month-over-month.

The activity wasn't isolated to a single segment or price point. It was broad-based. Both detached and attached buyers moved with purpose, with detached pending sales up 30.03 percent and attached up 32.99 percent month-over-month. The close-price-to-list price ratio ticked up to 99.13 percent, and well-priced homes in desirable locations saw multiple offers. Perhaps the most telling data point was days in the MLS, which dropped 50 percent month-over-month to just 16 days, a signal that buyers were not browsing, they were buying.

Pricing reflected the renewed energy in the market. The median close price rose 2.61 percent month-over-month to $590,000, while the average close price increased 4.34 percent to $711,493. Active inventory ended the month at 9,846, up 9.55 percent from February but nearly flat year-over-year, just 0.84 percent above March 2025. Despite a prevailing narrative of elevated inventory, supply is not dramatically higher than a year ago. The real story is that demand softened over the past two years while inventory normalized, and March suggests those two forces may finally be moving back into alignment.

While the attached market improved in March, the year-over-year picture remains sobering for condos and townhomes. Closed sales are down 8.48 percent from March 2025, and median days in the MLS have increased 42.86 percent year-over-year. Rising HOA fees and insurance costs continue to weigh on buyer interest in this segment, making accurate pricing and seller concessions particularly important heading into spring.

Year-to-date, 2026 continues to lag 2025. Closed sales are down 5.04 percent, the median close price is down 1.69 percent to $580,000, and the attached segment remains the softest spot, with year-to-date closings trailing last year by 13.02 percent. It is worth noting that the numbers reflect a slow January and February as much as they reflect March. The strong March activity has not yet moved the cumulative needle but if the momentum holds, the gap should begin to narrow as spring progresses.

“March's numbers carry a broader message for the Denver Metro market heading into spring,” said Amanda Snitker, Chair of the DMAR Market Trends Committee and Metro Denver Realtor®. “The buyers who showed up despite rising rates and economic uncertainty didn't just create activity, they validated a market that has been quietly finding its balance for three years. Inventory has normalized, pricing has reset and demand is returning.” 

Added Snitker,  “The cumulative data may not yet reflect it, but March felt like a turning point. The question heading into April and May is whether the market can sustain it.”

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+ market, demand remained strong particularly at the lower end. Detached homes priced between $1 million and $1,499,999 have just 2.56 months of inventory. This range accounted for 301 closed transactions in March, representing nearly 11 percent of all closings across the Denver Metro area. That level of activity continues to reflect a competitive environment.

As price points climb, we see more positive activity. In the $2 million+ segment, detached closings increased 62.75 percent month-over-month. While this activity looks promising, inventory remains elevated at 5.64 months. Year-to-date, this segment continues to trail 2025 by 10.78 percent in total closed transactions, highlighting a more selective buyer pool at higher price points.

Looking at the broader first-quarter performance, the $1 million+ market remains resilient. New listings increased 8.33 percent compared to Q1 2025, while closed transactions rose 1.37 percent. Compared to Q1 2024, closings are up significantly, by 36.02 percent. Total sales volume is nearly flat year-over-year, down just 0.62 percent, but up 10.74 percent compared to 2024. These figures suggest steady demand, even amid ongoing economic uncertainty, elevated mortgage rates and higher insurance costs.

“The most notable shift in 2026 is time on market,” said Susan Thayer, DMAR Market Trends Committee member and Metro Denver Realtor®. “Properties are taking longer to sell, marking a continued, steady increase from the pace of the past several years. Year-to-date, homes in the $1 million+ segment are averaging 62 days in the MLS, with a median of 21 days. By comparison, in 2022, the average was just 24 days, with a median of only four days.”

This change in absorption rate is noticeable to both buyers and sellers. Sellers entering today’s market need to recalibrate expectations. Longer marketing times are becoming the norm, and without proper preparation, pricing and positioning, that extended timeline can quickly lead to frustration. 

Added Thayer, “Buyers, sensing this shift, may reflect their increased leverage in offers, seeking lower purchase prices and/or higher concessions.”

Highlights from March’s closed transactions include the sale of the highest-priced detached home, which was 11 Cherry Hill Drive in Cherry Hills Village. The property was purchased by a cash buyer off market, closing at $9,750,000. The highest attached sale was located at 2800 E 2nd Ave Unit #203 in Denver. It was also sold to a cash buyer for $6,250,000 off market.

To download the most recent report, please login to the Member Center here.