Denver May 2024 Real Estate Market Updates
Stay informed and make sound investment decisions with our comprehensive analysis of the latest May 2024 real estate market updates in Denver, Colorado.


Check out our market updates in other Colorado Markets:

Colorado Springs Real Estate Market Updates- May 2024

Check out the Podcast Here

Denver Market Stats and Observations for May 2024

  • Active Listings
    • 9160 vs 5230, +75%
    • That growth is off the chart! 
    • Historically, active listings for May are 14,895 (1985-2023).
    • This year saw a new record of active listings from April to May (31% increase) compared to the historical average of 7%.
    • There are more listings now than pre-COVID (May ’19)…8890 vs 9160.
  • New Listings
    • 6965 vs 5200, +34%
    • Listings YTD are up 25% from last year!
  • Closed
    • 4200 vs 4440, -5%
    • Consistent with previous month.
  • Price
    • Average: 720k vs 697k, +3%
    • Median:  600 vs 595k, +1%
    • With the big growth in the number of active listings, there will be less price support than we have enjoyed in the past.
    • There is a possibility that we could see very small price declines.
  • DOM days on market
    • 27 vs 20, +23%
    • Homes are selling about a week faster than condos, as opposed to last year when condos were selling faster.
  • Discounts
    • Not much change; +0.5% premium to last ask price last year; 0.2% discount now.

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Rental Property Spreadsheet • House Hacking Spreadsheet BRRRR Calculator Spreadsheet • Fix and Flip Deal Analyzer Investing Maps • Rehab Pricing Estimator
Authors
Chris Lopez
Chris Lopez is a Denver area real estate entrepreneur and investor, as well as the host of Bigger Pockets’ House Hackerz and the Denver Real Estate Investing Podcast.
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