October 2025 Metro Market Review
Higher rates, cautious buyers, selective demand, and usual seasonal slowing brought a more measured fall market to Denver this October. After several years when limited supply and intense demand pushed activity later into the year, this season returned to a more typical fall pattern. Sales eased, pricing held steady, and buyers became more intentional in their search. The combination of restrained buyer activity and confident seller expectations kept conditions balanced but tense. Homes in desirable locations with strong layouts and updates are still attracting competition, while others are sitting longer or being withdrawn. Rather than signaling a significant shift, October’s numbers point to a market that’s stabilizing—where thoughtful pricing and presentation matter more than timing.
Inventory and Pricing Hold Steady
October ended with 12,495 active listings, a 4.43% decline from September, but still meaningfully higher than last year. Some of this dip can be attributed to withdrawn or expired listings, a common trend as sellers reassess strategy heading into the quieter months.
Pricing remained persistent. The median close price rose to $595,000, a 1.45% increase from September, and held flat year over year. This stability shows the power of the Denver market, especially in specific segments, which remain competitive even as activity slows. Months of inventory settled at 3.73, down slightly from September and still within seller-favored territory (typically defined as up to four months of supply).
Sales Activity Softens, Especially on the Attached Side
A total of 3,354 homes closed in October, a 6.96% decline from September. Detached homes held steady, while the attached homes’ sales volume continued its dip. A growing number of younger homeowners appear to be holding onto condos and townhomes as rentals rather than listing them at today’s interest rates. This trend limits turnover and could partially explain the difference in activity between the two categories. Overall sales volume reached $2.46 billion, down 1.23% from September, reflecting fewer transactions offset by relatively stable pricing.
Buyers Are Selective, and It Shows in Days on Market
The median days in the MLS landed at 33, down 5.71% from September but still well above the rapid pace of a few years ago. Today’s buyers are more deliberate, taking time to evaluate options and negotiate terms. Still, stiff competition persists, especially in specific segments such as walkable neighborhoods, strong school districts, and single-family homes with desirable layouts and updates. These insulated pockets regularly draw multiple offers, even as the broader market moves at a calmer pace. Pending activity ticked up slightly, with 3,457 homes going under contract, a 1.11% increase from September, indicating that motivated buyers are still stepping in when the right home appears.
Positioning Matters Heading Into Winter
For buyers, the fall slowdown offers a window of opportunity. More inventory, steadier prices, and fewer bidding wars allow for intentional decision-making. Historically, demand picks up again in the new year, as early as mid-January, but buyers who are active now may benefit from reduced competition.
For sellers, success relies on aligning expectations with today’s market realities. While months of inventory still suggest a seller’s market, the experience on the ground varies widely. Homes that excel in location, layout, and updates continue to perform, while others require strategic pricing and polished presentation to stand out. Partnering with a full-service brokerage becomes especially valuable in this environment, where marketing and positioning directly influence outcomes.
A Balancing Market?
October reaffirmed the broader trend of 2025: a Denver market that is neither accelerating nor stalling. Instead, it’s settling into a sustainable, thoughtful pace shaped by selectivity on both sides of the transaction. As we shift toward the winter months and look ahead to a new year, this balanced environment provides a solid foundation for buyers and sellers preparing for Denver’s next active season.