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The housing market in Denver in 2024 showed a mix of stability and potential, even with rising interest rates. While prices have come down from the highs during the pandemic, Denver is still one of Colorado’s most popular cities. The strong job market, with growth in tech, healthcare, and green energy, continues to bring in new residents. The city’s outdoor lifestyle, with easy access to hiking, skiing, and other activities, makes it a great place for those who want both city life and outdoor adventure. Plus, Denver’s growing economy, supported by new infrastructure and a thriving small business community, makes it a solid choice for long-term property investment.
Demand for homes remains strong, driven by the tech and healthcare sectors, as well as relocation interest. However, affordability is becoming a concern for many buyers.
As a real estate investor, I’ve noticed a more balanced market with less competition and more negotiable prices. However, opportunities still exist:
Sellers who are motivated or open to working with investors continue to find success, particularly with off-market deals. With the right strategy, Denver real estate can still be very profitable in 2024.
Denver’s economic health is driven by major employers such as Lockheed Martin, UCHealth, and Ball Corporation, which support job stability and housing demand. Infrastructure projects, including the expansion of RTD light rail and downtown revitalization efforts, are further enhancing the city’s appeal and property values.
Rising interest rates have made financing more challenging, with fewer buyers qualifying for traditional mortgages. However, creative financing options like adjustable-rate mortgages (ARMs) and seller financing are gaining popularity. These strategies can make homeownership more accessible despite higher borrowing costs.
Some emerging Denver neighborhoods showing strong investment potential include:
For those investing in Denver real estate, consider these strategies:
To succeed in this market, building relationships with local contractors, real estate agents, and property managers is essential. Networking with these professionals can help you find better deals, secure reliable service providers, and stay informed about market shifts.
Data is provided by REcolorado for the Greater Denver Metro area, which includes: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park counties. The housing market in Denver in 2024 had an interesting performance. 2024 saw a 9% increase in new listings and a 13% rise in closed sales compared to the previous year, with the median closed price reaching $580,000, up 6%. Homes stayed on the market longer, with a median of 41 days.
Month-over-month, new listings dropped 31%, executed contracts fell 16%, and closings dipped 1%, but prices remained steady. January inventory surged to 6,888 active listings, a 46% increase from last year, with detached homes making up 67% of available properties and condos/townhomes at 33%. Denver and Arapahoe counties together accounted for 43% of listings.
The rental market showed mixed activity in December 2024:
While rental activity has slowed slightly, limited inventory may continue to push interest toward homeownership in 2025.
As we move into 2025, Denver’s housing market offers expanded opportunities for buyers with increasing inventory and stable prices. Buyers can expect more choices, especially in Denver and Arapahoe counties. Meanwhile, rental inventory constraints may encourage more people to consider purchasing homes instead of renting.
Staying informed with reliable sources like REcolorado will be key to navigating this evolving market.
At New Era Home Buyers, we specialize in buying homes for cash throughout Colorado, including Denver and surrounding areas. The Denver Housing market is our only business. Our process is fast, transparent, and hassle-free. Whether you’re dealing with a difficult property or just want a straightforward sale, we can help. Contact us today for a no-obligation cash offer on your home.