April 2025: Market Recap
More Choices + Strategic Moves = Spring Market
Leading up to Easter, we saw more new listings than the number of homes going under contract, which continued to build our active inventory. Sellers are competing for a more limited pool of buyers. In Denver in Q1, nearly 60% of sellers offered some kind of concession to buyers at closing.
In April, Denver's inventory surpassed the highest listing count we saw during all of 2024. The last time we had this many homes on the market was over a decade ago. It's not just about the number of homes for sale – it's about how many buyers are actively looking and ready to make a move.
Both new listings and "coming soon" properties remain stronger than they were at this time last year, which is typical of holiday market behavior – a temporary slowdown followed by a rebound.
We saw fewer homes go under contract compared the same time last year. The balance of supply and demand continues to suggest a longer time on market for many listings. Odds of selling within the next 30 days declined again. While this metric is lower than it was a year ago, it's important to remember that well-positioned homes can and do sell, but not as quickly or universally as we saw last spring.
Showing activity also saw a dip. Fewer appointments were scheduled, and the average number of showings per property decreased. Some listings are being snapped up within the first couple of weekends, while others are lingering without much interest.
The rate of price reductions held relatively steady. Many homes that went under contract had at least one price cut before finding a buyer. The size of those reductions is shrinking slightly, which suggets that sellers are adjusting their expectations earlier in the process, or that homes are being priced more strategically right from the start.
We're seeing a market with increasing inventory, offering buyers more choices. The overall balance of supply and demand indicates a market where strategic pricing and presentation are key for sellers.
