As of June 2025, Denver’s housing market has decisively shifted in favor of buyers. Nearly 38% of listings in the Denver metro area underwent price reductions, significantly outpacing the national average of approximately 27%, placing the city at the forefront of the buyer-friendly trend reshaping U.S. real estate this summer. Zillow senior economist Orphe Divounguy characterized the shift as a “healthy rebalancing” in what had been a pandemic-era seller’s market.
Buyers now hold more leverage, with increased room to negotiate homes at or below listing prices. However, elevated mortgage rates—hovering around 6.7%—continue to suppress affordability, keeping many potential buyers cautious despite improved pricing flexibility.
Real estate professionals report a significant decline in the prevalence of multiple-offer scenarios. Price adjustments are now expected early in listing periods, and strategic pricing has become the norm. While select well-priced, move-in ready homes still attract strong interest, slower markets are experiencing longer listing times, more delistings, and greater reliance on incentives like concessions or rate buydowns. According to Redfin, metro Denver had about 4,800 more sellers than buyers as of April, representing a 42% disparity—its widest gap on record.
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Industry commentary underscores the evolving dynamics. Nick Gerli, CEO of Reventure App, noted that price cuts are visible “everywhere” on Denver listings, while Hannah Jones from Realtor.com remarked that inventory has surged to nearly twice the long-term average, signaling a structural shift in demand and supply.
Meanwhile, broader housing trends reinforce the picture of a market in transition. Inventory across the metro has climbed to levels not seen in over a decade, giving buyers more options and extending time on market to pre-pandemic norms. Homes are staying listed longer, and there is greater negotiation on price and terms before contracts are finalized.
That said, affordability remains challenged by high rates and persistently elevated prices. The median home sale price in Denver still hovers around $580,000 to $590,000 as of early to mid-2025, while mortgage rates have stayed near 6.7%, limiting purchasing power for many buyers.
In sum, Denver in mid-2025 exemplifies a pivot to a buyer’s market—characterized by rising inventory, widespread price reductions, and stronger negotiating leverage. Yet high prices and interest rates continue to temper demand. For buyers, this environment offers opportunity—but only if they’re ready and financially prepared. Sellers, meanwhile, must adjust to a climate where strategic pricing and flexibility are essential for success.
