Is Northwest Denver, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northwest Denver is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Northwest Denver was a Seller's Market.

Key Takeaway

Northwest Denver is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Northwest Denver, CO

How much do homes in Northwest Denver, CO cost?

Median Sold Price

$750,000

$489/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$4,919(-0.7%)

Key Takeaway

Homes in Northwest Denver have sold for 0.7% less than they did a year ago.

Summary: The median home sold price in Northwest Denver was $750,000 in October 2024, down 0.7% from last year, and the median price per square foot was $489.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $457.5K$410K
-10.4%
2 $661.1K$639K
-3.3%
3 $853.6K$844.4K
-1.1%
4 $1.1M$1.0M
-7.1%
5+ $1.3M$1.3M
-3.1%

Summary: Northwest Denver housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.4%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 3.1%.

Median Sold Price Compared To Nearby Neighborhoods

Highland
+4.7%
Northwest Denver
-0.7%
Witter
-12.8%

Housing Supply in Northwest Denver, CO

How many homes are available in Northwest Denver, CO?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
864962+11.3%

Summary: The Northwest Denver real estate market had 962 homes for sale in October 2024, a 11.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 175188
+7.4%
2 286319
+11.5%
3 212255
+20.3%
4 130143
+10.0%
5+ 6157
-6.6%

Summary: The Northwest Denver housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.4%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 6.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
118136+15.3%

Asking Price vs. Sold Price

78 Homes Were Sold
Under Asking

29 Homes Were Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northwest Denver, you may be able to get a good deal. 57.4% of homes here sold below asking price last month.

Summary: A total of 136 homes were sold or pending in Northwest Denver in October 2024, up by 15.3% month-over-month. Of the 136 sold homes, 57% were sold under asking, 21% were sold at asking, and 21% were sold over asking.

Days on Market for Northwest Denver, CO

How long does it take to sell a home in Northwest Denver, CO?

Average Sale Time

Oct 2023Oct 2024CHANGE
39 Days49 Days+25.3%

Summary: Homes in Northwest Denver had an average of 49 days on market in Oct 2024, up by 25.3% compared to last year.

Breakdown of Home Sale Times

72 Homes Were Sold
Under 30 Days

38 Homes Were Sold
In 30 - 90 Days

26 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Northwest Denver are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 136 homes were sold in Northwest Denver; 53% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Northwest Denver, CO

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