November 2024 Denver Real Estate Market Stats: What Buyers and Sellers Need to Know
The November real estate stats are in and they’re painting a colorful picture for both buyers and sellers in the Denver area. If you’ve been on the fence about jumping into the market—whether to sell or buy—these numbers and trends might just be the nudge you need. Let’s break it down!
There’s lots of activity happening, and inventory has hit its highest November level since 2012. That’s a big deal!
Why These Trends Matter
The market is shifting, and both buyers and sellers can benefit—if you play your cards right. Here are six key takeaways to help you navigate the current Denver market:
1. Movement, Movement, Movement!
With inventory way up compared to last year, homes are hitting the market at a faster clip. Buyers, this means more options to choose from. Sellers, you need to shine in a more competitive pool (think curb appeal, pricing, and standout marketing).
2. Inventory is the Highest Since 2012
For buyers, this is golden. The surge in active listings gives you breathing room—no more panic buying or getting into wild bidding wars. Take time to compare and negotiate (more on that below!). For sellers, this is a wake-up call: pricing right is key to attracting offers quickly.
3. Price Discounts Will Disappear Soon
Sellers, listen up! Discounts and negotiations are typical right now, but the window is closing. Historically, March (for detached homes) and April (for attached homes) see less flexibility as buyer demand ramps up. Buyers, strike now if you want leverage.
4. It’s Two Different Markets
Detached homes have about 2.63 months of inventory.
Attached homes have 4.36 months.
Detached homes are moving faster, while attached homes (condos/townhomes) are sitting longer. Buyers in the attached market, this gives you even more power to negotiate. Sellers of attached homes: sweeten the deal! Offering a year of HOA fees or other incentives can make a big difference.
5. Sellers’ Incentives are a Game-Changer
Gone are the days where homes sold in minutes for over asking. For attached homes especially, sellers need to get creative. Think negotiation perks like covering closing costs, buying down interest rates, or handling HOA fees for a year. Buyers love value-added deals!
6. Buyers Can Breathe Easier
Days on market have increased to 29 days, meaning there’s less pressure to make lightning-fast decisions. Buyers, take advantage of this. Have your agent negotiate inspections, repairs, or closing dates that fit your schedule.
Final Thoughts
The Denver market is showing signs of balance—which is refreshing for buyers and sellers alike. Buyers, this is the moment to jump in while inventory is high and price discounts are still on the table. Sellers, now’s the time to price competitively and offer incentives that make your home irresistible.
Whether you’re a buyer looking for the perfect place to call home or a seller eager to move on to your next adventure, the current market is full of opportunity… if you have the right strategy.
Need a game plan tailored to your situation? Let’s chat—We're here to make real estate stress-free and (dare we say it?) even a little fun!
— The Tucker Team