There is so much data being disseminated on the Denver real estate market it’s hard to know what is really happening.  I notice that a lot of the statistics I receive on a monthly basis tells me what the average sale price was for that month and then compares it to the previous month, and the same month a year prior.  I think a better indication of the real estate market is to compare the average sale price (or median price) for the last 12 months; and then compare that to the 12 months prior.  Real Estate changes slowly and gradually and frankly some months are just slower like you would expect, i.e December.

The other thing to pay attention to is the counties that are included in the data.  Land Title considers the Denver front range to include the counties of:  Arapahoe, Adams, Broomfield, Denver, Douglas, Elbert, and Jefferson.  But my company does not include Elbert county in what they consider the front range.  A lot of Elbert county is very rural.

Other reports I see like to separate attached units and detached single family homes; and other reports combine them for the overall average sales price.

So how was the Denver Metro Market in 2024?  For the counties of Arapahoe, Adams, Broomfield, Denver, Douglas, and Jefferson (not Elbert).  The median sales price for the entire year was $587,000 for all types of properties.  This represented an increase of .3% compared to the 12 months of 2023.  So, a pretty flat year and that is how the year felt as properties took longer to sell and more price reductions to obtain an offer.