Downtown Denver, Denver Condos for Sale | realtor.com® (2024)

FAQs

How overpriced is the Denver housing market? ›

Denver's median sale price is 34% higher than the national average. Overall cost of living in Denver is 10% higher than the national average. Learn which home features in Denver add value to a home.

1. Auraria. With a median home price of $1,788,708 and a median rent of $729, Auraria is the most expensive neighborhood on our list. Based on the growth in home prices in Auraria over the last 3 years, it ranks No.

The Denver housing market showed signs of a slowdown in June according to REcolorado MLS data. While buyer activity remained somewhat steady with contracts signed up slightly from last year, the number of homes actually sold dropped 12% compared to both June 2023 and May 2024.

The Denver real estate market continues to be in high demand with low housing supply, so it's a seller's market. On average, homes in the Denver housing market are selling after just 12 days on the market as of April 2024! (While this is quick, it's actually down from 10 days in 2023.)

The months from March to June are the best time to buy a house in Colorado. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

The monthly housing payment expense must be no more than 35% (FEHR) of the household's total income.

1 spot for the wealthiest ZIP code in the metro area for its combination of well-to-do residents and population density. The roughly 2.5 square miles incorporated within Denver's 80206 ZIP code is home to six neighborhoods: Cherry Creek, Congress Park, City Park, Country Club, Cheesman Park and City Park West.

Pueblo. With rental costs below the national average, Pueblo stands as one of the most affordable cities to live in Colorado. The house rent price is between $550 – $3,800. Pueblo is recognized as a great place to live.

Are Denver rents dropping? ›

The median rent in Denver fell by 0.1% over the course of July, and has now decreased by a total of 1.4% over the past 12 months. Denver's rent growth over the past year has is similar to both the state (-0.9%) and national averages (-0.8%).

Average Home Prices: The average median home price in Colorado is $611,000, up by 6.3% YoY. In 2024, experts predict the median sale price will increase due to the tight inventory. Currently, the sale-to-list price ratio is at 98.5%, with a decline of 0.1 pt YoY compared to September 2022.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March.

The median listing home price in Denver, CO was $585K in July 2024, trending down -5.6% year-over-year. The median listing home price per square foot was $386. The median home sold price was $450K.

The state's heightened cost of living, strong demand for homes driven by its natural beauty and economic stability, limited housing supply, high real estate taxes, and above-average mortgage rates all contribute to the pricey market. Bidding wars are common, and properties move quickly.

The state's heightened cost of living, strong demand for homes driven by its natural beauty and economic stability, limited housing supply, high real estate taxes, and above-average mortgage rates all contribute to the pricey market. Bidding wars are common, and properties move quickly.

After more than a year of Atlanta dominating the list of most overvalued housing markets, Detroit is now the most overpriced market in the United States, according to researchers at Florida Atlantic University and Florida International University.

Notably, Denver saw values jump more in the five years between 2013 and 2018 — with a 57% increase — than it did in the five years between 2018 and now. The biggest single-year increase that the metro has seen since 2018 came between 2020 and 2021 when values increased by 17%.

Average Home Prices: The average median home price in Colorado is $611,000, up by 6.3% YoY. In 2024, experts predict the median sale price will increase due to the tight inventory. Currently, the sale-to-list price ratio is at 98.5%, with a decline of 0.1 pt YoY compared to September 2022.