It's a homebuyer's market in Denver

Metro Denver's real estate market presents a significant homebuyer's advantage, with a reported 4,800 more sellers than buyers, resulting in a 42% gap, according to Redfin's April estimates. This gap surpasses the national average of 33. 7%, indicating a notable shift from previous years when buyers faced intense competition. The median sale price of $585,046 complicates the situation, making it difficult for many prospective homeowners to enter the market. According to the National Association of Realtors, homeownership remains unattainable for a significant portion of Americans.

The Denver Metro Association of Realtors also noted that the local market experienced its highest number of unsold listings in over a decade, with nearly 14,000 properties available. This trend reflects changing economic conditions and buyer sentiment. As the market evolves, local agents and potential buyers must navigate the challenges posed by high prices and an influx of available homes. Understanding these dynamics is crucial for anyone looking to buy in the area.