Blog > April 2025 Denver Housing Market: Inventory SURGE
Denver Housing Market April 2025: Inventory Jumps 41%
Denver hit 17,500 active listings in March 2025, up 41.5% year-over-year and the highest inventory level since 2012. Here's what that means for buyers, sellers, and prices heading into spring.
How much inventory is on the Denver market right now?
Denver metro had 17,500 active listings in March 2025, a 41.5% jump from 12,400 in March 2024.
That's the highest March inventory level Denver has seen since 2012. And inventory usually doesn't peak until August or September, so this number is going to keep climbing.
For context, last September we hit 21,000 active listings. If the current trend holds, we'll blow past that this summer. The five-year chart shows a clear seasonal wave, but the height of the wave is what matters here. Each peak has been higher than the last.
New listings also surged. We had 10,200 new properties hit the MLS in March 2025 compared to 8,000 in March 2024, a 27% increase. Sellers are coming out in force, which is part of why the active count looks so big.
More supply with steady demand means buyers finally have room to breathe. No bidding wars on most homes.
Are Denver home prices going down in 2025?
The median close price in Denver was $570,000 in March 2025, flat year-over-year and up less than 1% from February.
Prices have been remarkably stable despite the inventory surge. Last March we were at $570K, this March we're at $570K. The market is absorbing the extra supply because demand on the buyer side is also up.
Nationally, the median sales price climbed about 3% year-over-year to roughly $386,000, per Redfin. Denver is running hotter on the price tag (closer to the upper $600s if you narrow it to Denver proper) but flatter on appreciation.
The next 60 to 90 days are typically the peak pricing window of the year. After that, prices usually trail off into late summer and fall. If you're a seller, the window to capture the strongest price is now, not July. If you're a buyer, more inventory means more negotiating room than we've had in years.
How fast are homes selling in Denver?
The average days on market in Denver was 55 in March 2025, down from a January peak of 67.
Homes are moving faster than they were in winter, but they're still sitting 17% longer than they did last spring. Not everything is flying off the shelves.
Months of supply crept up to three months. Once we cross four months, Denver officially enters a balanced market for the first time in over a decade. I expect we'll hit that this year.
Showings per listing climbed to 6.3, which is the normal spring bump. And the showings-to-pending ratio improved to 10 showings per pending contract, down from 13. That means the buyers who are touring homes are actually writing offers, not just window shopping.
Pending sales hit 7,700 in March, up 17% year-over-year from 6,500. Closed sales were 5,700, basically flat year-over-year, but the pending number tells me April closings will beat last year.
How are tariffs and the stock market affecting Denver real estate?
The S&P 500 dropped about 10% in early April 2025 and is down nearly 20% year-to-date amid tariff news.
That kind of volatility puts buyers in a holding pattern. Even if it pulls 10% of buyers out of the market temporarily, that's enough to slow showings noticeably. I had two listings go live the first weekend of April and showings trickled in instead of the four to six per property I expected.
The flip side: when stocks tank, money flows into bonds and mortgage rates drop. The 30-year conforming rate fell to 6.48%, the lowest we've seen since the low sixes in September 2024.
Lower rates eventually bring buyers back. There's also a mountain of cash sitting on the sidelines (Warren Buffett is holding record cash levels) and when prices wobble, big buyers and hedge funds tend to step in. I don't buy the "stocks crash, real estate follows" narrative. The fundamentals (population growth, housing shortage) haven't changed.
Is Denver still a good place to buy a home in 2025?
Denver's population continues to grow and the metro still has a structural housing shortage despite 17,500 active listings.
Predicting the market is a fool's errand. I thought COVID would crash housing and the opposite happened. Robert Kiyosaki has been calling for a crash since 2015, and Denver prices are roughly 300% higher since then.
If you're financially stable and buying a home you'll live in for five plus years, the math usually works out. Even if prices dip 10 to 15% in the next year or two (which I'm not predicting, just acknowledging as possible), you're still ahead long-term in Denver.
What I tell clients: don't try to time the bottom. Buy when the home fits your life and the payment fits your budget. With more inventory, fewer bidding wars, and rates trending down, buyers actually have leverage for the first time in years. Sellers, list now before summer inventory floods in further. Spring 2025 is the pricing peak.
Video Chapters
Full Video Transcript
Full transcript from this video, organized by chapter. Click any timestamp to jump to that moment in the video.
Spring Market Overview
[0:00] The first week of April is one of the busiest weeks of the entire year in the real estate market. Why? Well, buyers are coming off the sidelines. They're starting to prepare for summer. Spring break is over and it's time to make that groove into what we consider the selling season. Now, the selling season technically has been going on for the last few weeks. Now, since it's the beginning of April, that means we have March numbers out. And this is one of my favorite months to really dig into the numbers, find out what's going on. Q1 is over. How do we look compared to quarter one of last year? How are these tariff wars affecting everything? Stock market, not so happy. But how's that affecting everything else? Interest rates are dropping a little bit, which should make it interesting if you're a seller right now, but all these tariffs have buyers scared. So, is it just balancing itself out? Well, that's what we're going to take a look at today, ladies and gentlemen, in our Denver market. And if you're not familiar with me, my name is Alex Salana. I've been a local agent since 2010, helping hundreds of buyers and sellers relocate across town. And if you want the most up-to-date information on the Denver market, just get on my weekly email list. There's a link in the description below. So, let's just jump right into it. Take a look at all the numbers, find out what our Denver market is doing. Starting with new listings here. Okay, just purely supply and demand economics. What is going on?
New Listings Analysis
[1:19] Well, new listings were peaking up here in some numbers, ladies and gentlemen. We can see we've got 27% more inventory coming to the market, new listings as of March versus last year. So, what that looked like in March, 10,200 new listings to hit the market. Now, this is the entire Denver metro MLS. So all the way up Boulder, even some up to Fort Collins, Colorado Springs, kind of the front range. Compared to last year, we had 8,000 come to the market. Had 10,200 this year.
[1:54] That's a significantly big jump of new listings to come to the market. But are the going under contract and close just sucking up this inventory? Like are we just going to see a much more active year in real estate? Well, let's keep going on here. So, active listings, how many listings are sitting on the market, no matter what their age is, right? Not just necessarily over the last 30 days. 17,500. This is also a good size jump.
[2:23] Up 41.5% year-over-year. So, that is 17,500 active properties that you can search right now on the Denver Metro MLS. compared to last year that was 12,400. That's starting to get big. So, what we're looking at here is a five-year time stamp, right? We're just seeing the wave. Every time spring comes around, we, you know, start start on the upticks of how much inventory is available out there. So, let's look back in time. This is a 15-year chart. All the way back at the beginning was 2010.
Price Trends & Growth
[3:02] The last time we had this much inventory, and this is going to keep going because each peak is generally around August or September. Last year was September. Uh the year before was September. The year before September. Like I mean pretty solid trend here. So this is going to keep going up for the next few months. Last year in September, we had 21,000 units on the market. And in March, we had 12,400.
[3:30] already up 41%. The last time we had that much inventory, 21,000 units, was back in 2012. If you remember 2012, it was still a little uncertain feeling, right? I know the crash was in 2008. Uh, and it took really till 2010 to 2012 to bottom out before it started rising. Um, and then we've been in the same market for the last 10 years essentially, right? So, we're going to keep an eye on this supply and demand. Pretty simple.
[3:57] more supply there is, uh, the less demand there is, then the more pricing is going to be pushed down, but I will keep you posted as we go along. So, now pending listings. Boom. All right. Another notable increase. We had a lot more new listings coming to the market. We have a lot more active sitting there. But look at this. We went up 7700. Look at that jump from February. Went from 5,300 up to 7700. another 2400 units to go under contract than the month before. Now, that number is up 17% yearover-year. So, last year we put 6,500 under contract. This year, 7,700, another 2,200 units under contract. I mean, again, that is significant. So, that's going to help us with all these newer listings and active listings sitting there to again balance out the inventory. I mean, we haven't seen in the last two years any numbers reach that. And usually April uh or May is about the peak for properties going under contract. Okay. So, if we continue this trend and we go up, you know, over this next 30 days, like we're going to be competing with the COVID numbers, which were phenomenal. Right now, there are a lot more properties for sale, so we're not having the bidding wars like we did back during the COVID days. Um, but it's still keeping prices stable. Closed listings, boom, jumped up to 5700. Now, compared to the year before, that was only.9% higher. So, basically flat year-over-year for the amount of closed listings. But over the next 30 days, we should see a big jump on this because of how many went under contract, right? So last year, for example, uh May was the peak closing month at 7,100 and April we closed 6,300. So 500 more to go before we beat last year's numbers. I'm pretty confident we are going to beat last year's numbers to be honest with you. Days in MLS dropping like a rock as it always does this time of year. Uh the average days on market right now is 55.
Pending Sales & Inventory
Days on Market Metrics
[6:10] Now, it's still only compared to last year where the peak time to be on the market was in January. Same thing with the year before. Uh so this year we peaked out at 67. So we are sitting on the market 17% longer than we did last year still. Uh so just something to keep in mind. Uh not everything's flying off the shelves. Month supply of inventory is creeping up. We got three months of inventory available. This is easily going to get above that four months of inventory mark I would say this year which puts us in an officially balanced market. Okay. So keep an eye on that.
[6:48] Uh showings to going pending. We're looking at 10 showings to go pending. Uh that's down from 13. So that's a good sign. That means the people that are out there uh are putting offers out on properties. They're going under contract. And then the shows per listing that's going up, right? 6.3 showings per listing. So, as what happens every single spring is that people are coming off the fences. Uh it's getting into the summer months, we're getting excited, the weather's getting better, we're having occasional snowstorm. Don't plant those plants just yet. Wait till Mother's Day, trust me there. Um and you know, things are feeling okay for the most part, right? Uh buyers are excited.
Buyer Activity & Pricing
[7:27] And then of course the closed price is up month overmonth. Thank goodness from 565 up to 570. Uh so up you know almost 1%. Uh but year-over-year we are flat. Okay. So last year in March we were 570. This year we're at 570. We creeped up a little bit more. Um and so we'll see what happens over the next few months. Over the next 30 60 90 days tops. that is the peak time for prices and then they start trailing uh as we get towards the end of the summer months there. Now, how are we in Denver here tracking compared to the national averages, right? Uh so, just to pull up a few numbers here as far as new listings on Redfin, this blue line is new listings.
[8:15] It looks like we've got more than the previous two years, 2023 and 2024, uh but not as many as 2022 yet. So, that's a good sign that we're not peeking out on inventory that we have over the last four years. The amount of properties going under contract, not as strong as the last few years. So, down 2.3%. We seem to be a little bit of anomaly here in Denver in comparison as our numbers are kind of through the roof right now.
[8:42] Homes sold, uh, we are down 3.3% over the last couple of years. median sales price, we are up 3% yearover-year nationally. Uh so what that tells me is that I mean the national median price is at 386 where here in Denver, you know, we're sitting in the just about 600s, right, for the median price. And if we narrowed that down even further to Denver, um you know, that number is going to be that much higher. I think Denver proper is well in the upper 600s right now for the median sales price.
[9:16] Um, so we're tracking with some of the numbers, uh, you know, but the overall median close price here in Denver, we've been fairly flat over the last few years, but we had such a massive runup, uh, over the COVID years that I don't know if I can say anybody is truly surprised from it. Now, where do we go from here? What's currently sitting at our market with my feelings from the first week of April? I've had a couple to go live just on the market just this last week and they were a bit slower than I would have thought, right? I would have thought for four to six showings per property and we're seeing showings just trickle in right over the first weekend. Now, the weather wasn't great this first weekend. Maybe that has something to do with it. Uh but overall, I think more importantly, the last couple of days in the stock market have had a little bit more to do with it. uh being that the stock market is down what 10% just over the last couple of days and is down almost 20% from the beginning of the year with threats of tariffs and that kind of puts a lot of people into a holding pattern, right?
[10:23] They don't they don't really want to step out of their comfort zone. Uh and so even if that takes 10% of the buyers out of the market, uh you know that's going to have a big impact across the board. Now, on good news is that interest rates are dropping a little bit. And so, we can see here on the 30-year conforming loan, we're sitting down to 6.48% for your typical 30-year mortgage. And in the last two years, yeah, we had this period uh last year in September that was around the low sixes. Uh but we're tracking to get it lower. So, if there's one upside to anything with the stock market not being good is that it's going to drive interest rates down, which will be good for buyers. Right now, what about the whole fact out there of like, oh god, the stock market's crashing. Real estate's right behind it.
Interest Rates & Market Outlook
[11:16] Um, I I don't buy into it. I just don't. Uh, and here's why. Uh, there's a lot of money sitting on the sidelines, right? I think Warren Buffett is like the highest cash level he's been in decades. Okay? Uh, and there's a lot of people in that same boat. And when things do get sour, right, these big hedge funds, they've got cash they're sitting on. I think they will come off the sidelines and start scooping up inventory again with lower interest rates, therefore keeping prices a bit more stable. Right? Our population is still going up in the US, meaning there still needs to be more homes. People are still going to be renting properties still. People are still going to be buying properties and I think they will get back in the game because they haven't been in a while.
[12:00] So, if you're okay with riding out a potential storm over the next year or two where prices may drop by 10 to 15% or so, I you know, I I can't say it's a bad time. But people like to blame us as agents for if it's a good time to buy or if it's a good time to sell. like we don't know any more than you do. Something could happen tomorrow and the whole market could go sideways. But I will say historically, if you've tried to predict it, uh, and you've tried to predict the market going south, you've been wrong more times than not. Period.
[12:37] Heck, during co I thought we were going to be crashing and burning like crazy and we all saw what happened to the market. I was clearly wrong. Now, did I advise people not to buy? No. I just put the caution out there that we don't know what's going to happen, right? And so I think you see out there on a lot of social media uh people fear-mongering and you know they've been fear-mongering since 2015. Okay, go ahead look up Robert Kiyosaki, the author of Rich Dad Poor Dad and you're going to see he's been writing about a market crash since 2015. That was what 300% ago, right? So, everybody can be wrong and you got to do what's good for you and your family. Uh, buy in the right spot, buy what works for you and I am here with whatever questions you have. So, feel free.
Investment Strategy & Advice
[13:25] Contact information here is below. Uh, happy to talk to you at any time. And until the next time, happy housing.
Frequently Asked Questions
What is the median home price in Denver in April 2025?
The median close price across the Denver metro MLS was $570,000 in March 2025, flat year-over-year. Denver proper trends higher, sitting in the upper $600,000 range. Prices typically peak in late spring and early summer before trailing off through the fall months.
How many homes are for sale in Denver right now?
There were 17,500 active listings across the Denver metro MLS as of March 2025, a 41.5% increase from 12,400 in March 2024. This is the highest March inventory level since 2012, and the number typically keeps climbing until August or September.
Are mortgage rates going down in 2025?
The 30-year conforming mortgage rate dropped to 6.48% in early April 2025. Rates have been trending down as stock market volatility from tariff concerns pushes money into bonds. This is the lowest level since September 2024, when rates briefly touched the low sixes.
Is Denver a buyer's market or seller's market in 2025?
Denver currently has about three months of supply, which is technically still a seller's market but moving toward balance. Once supply crosses four months (likely this summer), Denver will officially be a balanced market for the first time in over a decade.
Should I sell my Denver home now or wait?
Spring is historically the peak pricing window in Denver, with prices typically topping out in May or June before declining through summer and fall. With inventory rising fast, listing sooner rather than later means competing against fewer comparable homes and capturing the strongest seasonal pricing.
Will the Denver housing market crash in 2025?
I don't see a crash coming. Population growth continues, housing supply is structurally short, and there's significant cash sitting on the sidelines waiting to deploy. A 10 to 15% correction is possible if economic conditions worsen, but a 2008-style crash would require very different fundamentals than we currently have.
How many homes went under contract in Denver in March 2025?
Pending sales jumped to 7,700 in March 2025, up 17% from 6,500 in March 2024 and a significant increase from 5,300 in February. April or May typically marks the peak month for properties going under contract, so this number should continue climbing.
How long do homes sit on the market in Denver?
The average days on market in Denver was 55 in March 2025, down from a January peak of 67. However, homes are still sitting about 17% longer than they did in spring 2024. Showings per listing rose to 6.3, signaling the normal spring activity pickup.
Thinking about buying or selling in Denver?
Call or text (303) 552-4804 for a no-pressure conversation about your situation.
Leave a Reply
