Blog > Denver Median Price Looks Flat, but Sellers Are Cutting Hard
Denver Median Price Looks Flat, but Sellers Are Cutting Hard
by Alex Saldana
Denver Median Price Looks Flat, but Sellers Are Cutting Hard
By Alex Saldana, Colorado Real Estate Broker (License #042865) · November 5, 2026
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Denver's median price looks steady at about $560,000, but pending listings are down almost 20% and inventory sits at 4.5 months. Here is what the October numbers say and what they hide.
What do Denver's October 2026 housing numbers show?
New listings dropped 9% year over year to about 6,940, while active listings still ended up 2.6% higher than a year ago.
I expected inventory to tighten earlier this year, but closings kept pace with the drop in new listings, so supply actually grew a little. The bigger story is demand. Pending listings are down almost 20% year over year, which means roughly 20% fewer homes will sell over the next 30 days than we saw 12 months ago. That lines up with closed listings down 23%.
So we are selling 23% fewer homes while active inventory sits at a high level. On a 15 year view, the last time we saw this much active inventory was 2011, when we were still climbing out of the biggest crash since the Great Depression. Average days on market is only about 60 (townhomes, single families and condos combined), so it is not skyrocketing yet.
Is Denver a buyer's market right now?
Months of inventory rose 7.1% to 4.5 months in October, which I consider half a month into buyer's market territory.
The old rule you hear from mass media says four to six months of inventory is a balanced market. I think that number is outdated. When that rule of thumb was created, people moved about every six or seven years. Today the average person stays in their home more than 12 years, almost double.
So I think a balanced market is three to four months of inventory. Anything below that favors sellers, and anything above favors buyers. At 4.5 months, we have crossed over a bit. I have shown more than 100 homes in the last 30 days, and listing agents keep calling me for feedback, asking if we are bringing an offer and how aggressive we can get. Homes take about nine showings to go pending, but the average listing only gets around 3.5 showings a month, which usually means price adjustments.
Why does the Denver median price look so steady?
Denver's median close price climbed back to roughly $560,000 in October after hitting about $550,000, following a pattern we also saw the last two years.
The median was around $585,000 in the spring and early summer, dipped, then bumped up in October. We saw a similar September to October bump last year and the year before, so it is not out of the ordinary. I would expect the next 30, 60 and 90 days to trend down, with the low point usually landing around January or February before prices creep back up.
On paper, the last five years look flat. But if you have a house on the market or you are shopping right now, you know it feels a whole lot softer than that. A median blends every home type and every neighborhood together, so it can look calm while individual sellers are living through real price drops.
How much are individual Denver sellers cutting their prices?
A Bryant Street home in the Highlands sold for $1.2 million in February 2023 and is now listed at $975,000, which is $225,000 less.
That home has a fully updated kitchen, nice floors and a great backyard, and it has only been listed a couple of weeks. The median single family close price in that exact area has only slipped about 8.9% over four years, so the home's ask is falling much faster than the area.
Over in Sunnyside near I-25, a split level on Osage Street started at $1 million and is now $950,000. The owners bought in 2022 for $1.325 million and tried to sell at $1.2 million last year before the listing expired. In Littleton, another home listed at $1.05 million is down to $1 million after 103 days, after a failed try at $1.2 million last year. The owners paid $1.15 million in 2022. Neighborhood medians barely moved, but these sellers are feeling it.
What should Denver sellers and buyers do right now?
Sellers should lean on the last six months of data, because 12 months pulls in last year's seasonality.
If you are selling, understand that close prices do not decide what your house sells for. Your competition does. If four or five homes sold in your area in six months and 10 are active right now, you are looking at about 12 months of inventory. Preview as many competing homes as you can so you know what buyers see, then price accordingly.
If you are buying, a home that sold at $1.3 million a couple of years ago and now lists near $1 million is a real deal compared to then. Offers 5% under asking are not uncommon, though some sellers are unwilling to sell at those prices and may rent instead, especially with a 3% mortgage rate. If it is the right house, pay the price and negotiate as best you can. Nobody knows when the market rebounds, so use the information in front of you.
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Frequently Asked Questions
Are Denver home prices dropping in 2026?
The median close price looks flat at around $560,000 in October, but individual listings tell a softer story. I am seeing sellers cut asking prices by $50,000 to $225,000 from what they paid. Expect the median to drift down toward its usual January or February low before spring.
How many months of inventory does Denver have?
Denver ended October with 4.5 months of inventory, up 7.1%. Many people say four to six months is balanced, but I think three to four months is a better benchmark because people now stay in homes 12 years or more. By that measure, we are slightly into buyer's market territory.
Is Denver in a buyer's market?
By my definition, yes, but only slightly. Below three to four months of inventory favors sellers and above that favors buyers. At 4.5 months, we are about half a month over. Pending listings are down almost 20% year over year, which shows buyers are very hesitant right now.
How much under asking price can I offer on a Denver home?
Offers around 5% under asking are not uncommon right now, and lower offers at 3% to 5% under ask are showing up as listings sit. Some sellers will not budge, and a few would rather rent the home out. If it is the right house, negotiate, but be ready to pay fair value.
Will Denver home prices crash 50%?
I do not think so. In 2008 we were close to a total financial collapse and Denver home values still did not fall 50%. Money supply is also about three times larger now, and inflation pushes costs up over time. Bears have been calling a crash since 2015, and it has not happened.
Which months of Denver housing data should sellers use to price a home?
Use the last six months of data, which is the most useful window. Twelve months pulls in last year's seasonality. Then look at active competition in your neighborhood and preview those homes. Your price depends on what buyers see next to your house, not on the citywide median.
Thinking about buying or selling in Denver?
Call or text (303) 552-4804 for a no-pressure conversation about your situation.
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