Market Update: March 10, 2025

The spring market in Denver in 2025 looks, in many ways, like every other spring market. Houses are flying off of the MLS, multiple offers are abundant, and home appreciation as we wrap up the first quarter looks to be as aggressive as it gets every other spring. The average price of homes across the market is just a tick under $600,000, up about 4% from last month. I’d expect this number to be higher at the end of March and April. Detached single family homes continue to make their way back to the $800,000 mark as far as average price is concerned, an indicator that the homes that are getting sold are awesome, and attracting people that have money burning holes in their pockets. Where it looks a little bit different is in the amount of inventory we’re seeing actively for sale. 8,554 total properties for sale on March 1st is a record for me at this time of year. But, I believe we have the same problem we had in our last update, which is that at least half of our inventory is overpriced and poorly presented. It’s a great time to sell your home in Denver right now, no question. If you’re going to be greedy and test the high end of the market where most buyers are doing the shopping (under $1M, generally), you’re going to wind up selling for about 10% less than you should have or would have had you employed the correct strategy. There are deals to be had once we find properties that have been on the market 25 days or more, and/or those that continue to drop the price.

Interest rates have softened just enough to tease out a little bit of the pent-up demand, and as the current president and his administration continue to waffle on tariffs and “recession” rhetoric, I don’t expect them to jump up too much. Lenders in my network are saying “if we get to 5.8%, watch out.” Meaning, if rates continue to drop, competition for homes will grow, and grow quickly. As usual, sitting and waiting in this market only guarantees missed opportunities. Please reach out to discuss your situation. We’ll make the right decision.