July 2025 Market Update
I truly cannot believe we are well over halfway through 2025. And what a year its been… Let’s dive in to the July real estate market recap.
The Denver market declined in July in all areas except median days on market and months of inventory. Months of inventory is currently sitting at 3.82, meaning if no new listings were added to the market, it would take just under 4 months to sell out of everything currently on the market. It also means buyers, on average, have just under 4 homes to choose from that fit their parameters.
Sellers need to be prepared with price and presentation, because buyers are picky right now. We have more inventory available to buyers than we have had in the last decade, with a slight decline into the summer months, especially in the attached (condo/townhome) market. This trend is typical of our market in Denver.
I always like to compare the current market to the 2008 market. With the current leveling out of new listings, we are still nowhere near the 2008-2011 market with new listings, and on par with closings from that period. While we would all like to see more closings, our current market is following annual trends with a peak at the start of the year, and moving into the slower half of the year.
In the graph below, you can see the seasonal dip in new listings as kids are about to head back to school and we are approaching the holiday season. Real estate is cyclical and shows annual trends in new listing behavior.
Listings are sitting on the market longer, which ties back to buyers having more choices with the current inventory available. The median days on market below shows that condos and townhomes (attached) are moving more slowly than detached homes. Many owners want out of their HOAs or have outgrown their homes. Condos and townhomes still provide many opportunities for first-time buyers.
Median and average closed prices are down slightly over last year and last month. Buyers have more choices and are therefore negotiating price points and seller concessions. Sellers need to prepare their homes to be move-in ready and in picture-perfect condition. Buyers, with a slight drop in rates recently, this could be your time, especially if you’ve been on the fence.
Our real estate market is always changing. Certain neighborhoods and price points are moving more quickly than others, and this data is different depending on where you live or want to live. Reach out to me if you want more data about your neighborhood or your dream neighborhood.
