Metro Denver's housing market in 2024 mirrored the challenges of 2023 with elevated mortgage rates influencing buyer and seller behavior. A key trend was a widening gap between detached and attached homes. Detached home sales rose 7.84%, while attached home sales dropped 15.5%. The median price of detached homes increased 2.28%, while attached homes saw a 1.9% decline. Active listings also increased significantly, rising 38.6% from the end of 2023 to the end of 2024.
This is the exterior of the soon to be opened The Burrell Denver condominiums at 3575 Chestnut Place on December 11, 2023 in Denver, Colorado.
New listings rose 15.8% for detached homes last year, but a more modest 5.2% for townhomes and condos. As the year ended, buyers had more than four times as many properties to pursue compared to the record low inventory of 1,477 reached in December 2021. One result of the rising inventory last year, or perhaps a contributor to it, is that listings took a lot longer to sell.
Amid nationwide stadium boom, will Broncos build new home to land what Rockies have and what Nuggets, Avs are getting?
HOUSING MARKET MORTGAGE RATES METRO DENVER ATTACHED HOMES DETACHED HOMES
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