24K Real Estate Market Update

Over the past six years, the Denver Metro real estate market has taken us on quite a ride—complete with sharp turns, sudden drops, and a few unexpected climbs. Let’s take a look at the story the numbers tell.

Back in 2020, buyers came out in force. July sales volume hit 7,133 homes, the high-water mark of the last six years. Inventory, at just over 8,200 homes, already hinted at the lean market to come.

By 2021, the frenzy of low interest rates pushed sales to nearly 5,900 homes, but inventory dropped to just 6,043—competition was fierce, bidding wars were the norm, and buyers were sprinting to the finish line.

Then came 2022, when the market pivoted. Interest rates started to rise, sales slowed to 5,184, and inventory nearly doubled to 11,620. Suddenly, buyers had options, and sellers had to adjust their expectations.

2023 continued the cooling trend: sales slipped to 4,561, while inventory hovered at 10,818. A quieter market, yes—but more balanced than the breakneck pace of just a couple years prior.

In 2024, activity ticked back up with 4,910 homes sold, while inventory surged to 14,995. Buyers had breathing room, and sellers faced stiffer competition.

Fast forward to 2025, and we’re seeing an interesting dynamic. July sales rose slightly to 4,989 homes, holding steady compared to the last two years, but inventory has ballooned to 19,134—more than double what we saw in 2022. In short: buyers now have the upper hand, and sellers must focus on pricing and presentation to stand out.

The Bottom Line: The past six years have taken us from a red-hot seller’s market to a more balanced—if not buyer-friendly—environment. Denver real estate is still moving, but today’s market rewards those who play smart, stay informed, and know how to adapt.