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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southwest Denver is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Southwest Denver has remained a Seller's Market.

Key Takeaway

Southwest Denver is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Southwest Denver, CO

How much do homes in Southwest Denver, CO cost?

Median Sold Price

$496,647

$355/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$8,352(-1.7%)

Key Takeaway

Homes in Southwest Denver have sold for 1.7% less than they did a year ago.

Summary: The median home sold price in Southwest Denver was $496,647 in October 2024, down 1.7% from last year, and the median price per square foot was $355.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $300K$300K
0.0%
2 $419.2K$404.3K
-3.6%
3 $518.7K$511.3K
-1.4%
4 $565.5K$578K
+2.2%
5+ $640K$620K
-3.1%

Summary: Southwest Denver housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.6%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes decreased by 3.1%.

Housing Supply in Southwest Denver, CO

How many homes are available in Southwest Denver, CO?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
637700+9.9%

Summary: The Southwest Denver real estate market had 700 homes for sale in October 2024, a 9.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 4951
+4.1%
2 183184
0.5%
3 189217
+14.8%
4 138168
+21.7%
5+ 7880
+2.6%

Summary: The Southwest Denver housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.1%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 21.7%, and 5+ bedroom homes increased by 2.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
135126-6.7%

Asking Price vs. Sold Price

58 Homes Were Sold
Under Asking

36 Homes Were Sold
At Asking

32 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southwest Denver, you may be able to get a good deal. 46% of homes here sold below asking price last month.

Summary: A total of 126 homes were sold or pending in Southwest Denver in October 2024, down by 6.7% month-over-month. Of the 126 sold homes, 46% were sold under asking, 29% were sold at asking, and 25% were sold over asking.

Days on Market for Southwest Denver, CO

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

Average Sale Time

Oct 2023Oct 2024CHANGE
19 Days36 Days+93.2%

Summary: Homes in Southwest Denver had an average of 36 days on market in Oct 2024, up by 93.2% compared to last year.

Breakdown of Home Sale Times

73 Homes Were Sold
Under 30 Days

37 Homes Were Sold
In 30 - 90 Days

16 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 126 homes were sold in Southwest Denver; 58% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 13% 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 16 Days Ago

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