Denver's real estate market continues to see a significant influx of new and remaining inventory. New listings of detached homes increased from 4,507 properties in March to 5,240 in April. The month then closed with 7,844 active listings, an increase of 66.22% year-over-year.
Homes are still selling, just not keeping pace. Pending sales, which are homes that went under contract, soared back in March but decreased by 2.22% in April, coming in at 3,347 pending sales. That's still an increase of 7.28% compared to 2024, so the market remains strong.
So, closed sales primarily reflect pending sales from March since it takes around 30 days to finalize transactions. In April, there were 3,002 closed sales, which is an increase of 5.97% month-over-month and 0.54% higher than in 2024. While that figure is relatively flat, it's not a decline, which is good news for today's sellers.
Flat also describes the prices of detached homes in Denver right now. In April, the median price was $665,000 versus $660,000 in March. The median in April of 2024 was $660,500. That means prices have gone up by less than 1 percent month-over-month and year-over-year. While mortgage rates are higher right now, they are keeping home prices tempered. Which is good news for today's buyers.
Now, for days on market. April buyers had a lot of homes to choose from, and they did so with a quickness compared to March. Days on market dipped from 46 to an average of 34 in April. While that's still higher than a 30-day average last April, it's not a significant jump. And it makes sense that some buyers want to close and move before the start of the summer, typical for this time of year.
Looking at attached properties, such as condos and townhomes, new listings decreased slightly month-over-month but came in 13.03% higher than the prior year. And the month closed with 4,120 properties available, up by 81.42% year-over-year.
The median price for April was $389,900 compared to $387,750 in March. That's down by 6.05% compared to 2024. This segment continues to reset post-pandemic, especially with buyers being more sensitive about HOA fees on top of a higher mortgage rate.
Closed sales for attached homes were also down by 13.03% year-over-year, while the average days on market increased by 43.75%, coming in at 46 days in April.
According to Amanda Snitker, Chair of the DMAR Market Trends Committee, here's a look at the market vibe for April:
"One week felt hot with buyer activity and quick sales, and the next brought a chill with hesitation driven by fluctuating mortgage rates and uncertainty in the broader economy. Consumer sentiment was cautious—buyers and sellers alike were willing to engage, provided the numbers made sense. While economic uncertainty lingered, the market operated with cautious momentum, driven more by life changes than speculation or urgency."
Basically, whether you're buying or selling, it may feel like you're on a roller coaster right now. The best strategy is to remain steadfast and focused on your long-term goals instead of fixating on the day-to-day twists and turns of the market.
If you plan on making a big move in the coming months, your first step is to discuss buying or selling goals with an experienced professional. One you can lean on—a proven professional with the skills, connections, and resources to help you achieve the best possible outcome. An agent who has been through the ups and downs and will be there to guide you every step of the way.
Choose your real estate agent with care and make sure you have the right representation.
How to Appeal to Home Buyers
If you’re planning to sell your home this year, you may be wondering what buyers are looking for in a home. How do you stand out in a high-inventory market? What existing features should you highlight, and what updates should you make?
First and foremost, you should work with your agent to develop a smart pricing strategy. Today's Front Range market isn't about what you think your home is worth—it's about what buyers are willing to pay. Conservative pricing is a must. You should also be open to negotiating contingencies and terms, even offering financial incentives like a mortgage rate buydown.
Second, your home should be in tip-top shape. Catch up on any deferred maintenance or repairs, inside and out. If needed, fresh paint may be a good idea. And swap out those builder-grade lights—installing ceiling fans is even better. Finally, have the home deep cleaned. Not just surfaces but inside cabinets, all appliances, windows, floors, everything.
Now, based on buyer trends and feedback, here are a few rooms and spaces that you and your agent should feature in photos and marketing materials:
- Laundry room (not just a closet) and/or mud room
- Library, den, or lounge separate from the living room
- A walk-in pantry, back kitchen, or second kitchen
- Separate and intimate dining room for entertaining
- Office or designated remote workspace
As for upgrades and amenities, highlight these buyer favorites if your home has them:
- Smart home tech (lights, security, thermostat)
- Updated windows, roof, and gutters
- Energy Star appliances
- High-efficiency water heater and HVAC
- Solar panels and whole-home batteries
- EV chargers
- Radon mitigation system
Kitchens & Baths Sell Homes
You've likely heard this line, and it's actually true. So, if you were to invest in renovations prior to selling, it's best to focus on the updates buyers want.
Kitchen
- Upgrade to granite or quartz countertops
- If space allows, expand the island to create seating
- Paint cabinets (especially honey oak) if they’re in good condition
- Install a deep sink, and add a quality spray faucet
- Update the lighting and all hardware—knobs and pulls
- Upgrade to a suite of energy-efficient appliances
- Add even a small table and chairs to create a seating nook
Primary Bath
- Update countertops to granite or quartz
- Update lighting and flooring
- Add a tile backsplash behind the sink
- Paint the walls or hang wallpaper
- Swap pedestal sinks for vanities with storage
- Paint the existing vanity
- Update faucets, fixtures, knobs and pulls
- Replace a builder-grade mirror with a vintage find
- Add plants and other colorful accessories
Before getting started, it's always best to consult with your agent. They can guide you in making changes to help your home stand out, showcase your home in its best light, as well as help you negotiate a win-win deal with a buyer.
