Denver Housing Inventory Hits 12-Year High as Colorado Families See More Options
Colorado home buyers are finding themselves in an increasingly favorable position as the Denver metro area experiences its highest housing inventory levels since 2011, with 13,599 active listings in May - a dramatic 48% increase from last year.
For Colorado families looking to purchase homes, this surge in available properties marks a significant shift in the local real estate landscape. According to the Denver Metro Association of Realtors (DMAR), the current inventory is approaching the historic average of 14,510 listings, offering Front Range residents more choices than they've seen in years.
What This Means for Colorado Buyers
Despite the increased inventory, Colorado home prices remain resilient. The median home price in Denver held steady at $600,000 in May, suggesting that while buyers have more options, they're proceeding with caution in today's market.
"As more homes enter the market and fewer are closing, we're seeing a build-up of active listings rolling into the next month," explains Amanda Snitker, chair of the DMAR Market Trends Committee. "This is where strategy and staying power come into play."
Denver Emerges as Top Buyer's Market
According to REMAX's National Housing Report, Denver now ranks as the third most favorable buyer's market in the nation, trailing only San Diego and Raleigh, N.C. This represents a significant shift for Colorado home shoppers who have faced intense competition in recent years.
Impact on Colorado Sellers
Local real estate experts advise that Colorado homeowners looking to sell need to adjust their strategies. Andrew Abrams with Guide Real Estate notes that sellers face new challenges:
"If their property isn't turnkey and priced appropriately, they are left with two difficult choices: Wait for the right buyer or reduce the price to stay competitive with other available options."
Market Indicators for Colorado Families
- Pending sales increased 7% from April to 4,349 in May
- Median days on market rose 44% year-over-year to 13 days
- Luxury market ($1M+) showing continued buyer hesitation
- Inventory expected to peak around September
For Colorado families considering a home purchase, experts suggest this could be an opportune time to enter the market, particularly for those who have been waiting for more options and negotiating power. However, with interest rates still a factor, buyers are encouraged to carefully evaluate their timing and financial position.
This article contains AI-generated content and reflects opinion only. Readers are encouraged to verify all information independently before drawing conclusions or making decisions.
