End of February Market Report

The local housing market kept its momentum in February, with more homes hitting the market and steady buyer interest creating a more balanced playing field. Sellers listed 4,941 new homes—giving buyers more choices as spring approached. Demand stayed consistent, with 2,694 homes closing and 3,529 going under contract, showing that homeownership remains a priority. Prices continued to rise, with the median home price reaching $599,000. However, buyers took their time making decisions, with homes spending a median of 33 days on the market.

Month-to-Month Changes

Compared to January, the market saw a boost in activity. New listings climbed 14%, giving buyers more options, while pending sales surged 23%. Closed sales rose 18%, and homes sold faster—spending two weeks less on the market. Sellers made smart pricing adjustments, contributing to a 4% increase in median home prices from the previous month.

Denver Rental Market

February was slower for rentals, with 216 properties leased—a 30% drop from last year. Despite fewer leases, rental prices remained strong, ticking up 2%. Inventory stayed tight, with 323 new rental listings, slightly fewer than both last year and last month. At the time of reporting, 563 rentals were available, reflecting a small 1% dip from January.

What This Means for Buyers and Sellers

With more homes for sale and steady demand, the market is finding its balance. Buyers have more options but are taking longer to commit, while sellers are still seeing price growth — just with longer days on the market. As spring arrives, keeping an eye on mortgage rates and buyer trends will be key. Whether you’re looking to buy, sell, or rent, having the right strategy (and the right agent!) will make all the difference.

Never hesitate to reach out to us! We are always looking forward to speaking with you.