REColorado Denver Metro Market Watch, Report, September 2023

Highlights September 2023 | MARKET WATCH – September 2023 1© REcolorado 2023. All Rights Reserved.• September brought a seasonal slowdown in Denver Metro home sales. 

The number of closings saw a 17% decrease from last month. 

As compared to September 2022, there were 25% fewer closings. 

• Home prices remained flat from last month with the median closed price of a Denver Metro home increasing less than one percent. September’s median closed prices were up just 1% compared to last September. 

• The number of newly listed homes saw a 5% decrease from August to September. Compared to last year, sellers brought 12% fewer homes to the market. 

• Buyer activity slowed with fewer contracts executed on homes in September as compared to August. The number of listings pending sale was down 8.5% compared to last month. The median number of days it took a home to move to pending increased by 5 days, indicating shoppers are taking more time to make home-buying decisions. 

• As with the resale market, the rental market also experienced seasonal slowing. The number of properties leased using REcolorado MLS was 11% less than last month, but still 14% higher than last year. The median price per month for a leased property was 5% higher than last year.