Denver Metro Housing Market Update: October 2026
· @Andrew Hersey
The Week Denver's Market Changed
For most of 2026, the Denver Metro housing market was running almost exactly like 2025. In July and August, weekly contract signings were just 3.5% behind last year's pace. Then came the week of September 7.
That week, buyers signed 596 contracts, 21% fewer than the same week a year earlier. Every week of October ran 20% to 30% below 2025. Over the same stretch, the average 30-year fixed mortgage rate climbed from 6.71% on September 3 to 7.40% on October 8, its highest level since November 2023, and the Federal Reserve raised rates on September 16 for the first time in three years.
The result: October closings fell 20%. But here's the part that surprises most people. Prices didn't.
October by the Numbers
Fewer homes sold, but the median price held almost exactly where it was a year ago.
|
All residential |
Oct 2025 |
Oct 2026 |
|---|---|---|
|
Closings |
3,450 |
2,754 |
|
Median sale price |
$584,450 |
$585,000 |
|
Median price per sq ft |
$292 |
$287 |
|
Median days on market |
31 |
29 |
|
Sales with seller concessions |
64% |
65% |
|
Cash buyers |
20% |
22% |
|
Months of supply |
— |
4.4 |
Houses held. Condos and townhomes softened.
Single-family homes have held at a $640,000 median for three straight Octobers. The softness is in attached homes: townhomes are down 10% over two years (to $415,000) and condos are down 7% (to $310,000).
Denver isn't one market
Months of supply tells you who has the upper hand. Under 4 months generally favors sellers; over 6 favors buyers.
- Single-family under $400K: 2.6 months (seller's market)
- Single-family $400K–$1.5M: 3.6 months (still favors sellers)
- Single-family $1.5M+: 5.2 months (balanced)
- Townhomes: 5.3 months (balanced)
- Condos: 8.8 months (strong buyer's market)
Cash didn't flinch
Financed purchases fell 23% from last October, but cash purchases fell only 9%. 22% of October buyers paid cash, the highest share in nearly three years of data. Above $1.5M, 45% of buyers paid cash.
West-side spotlight
Several west-metro cities are still moving fast:
|
City |
Median price |
Median days |
Months of supply |
|---|---|---|---|
|
Wheat Ridge |
$590,000 |
11 |
2.4 |
|
Golden |
$875,000 |
22 |
3.1 |
|
Arvada |
$603,000 |
34 |
3.1 |
|
Evergreen |
$1,012,000 |
52 |
3.1 |
|
Littleton |
$685,000 |
21 |
3.7 |
|
Lakewood |
$510,000 |
29 |
5.7 |
Jefferson County saw the smallest sales drop in the metro, down just 7% from last October versus 19% to 28% in Adams, Arapahoe, Denver and Douglas counties.
What This Means for Buyers
You have less competition than you've had in years, and sellers are paying to get deals done.
- Concessions are the norm. 65% of October sales included seller concessions, with a median of $10,000. Ask your lender how a rate buydown or closing-cost credit changes your monthly payment.
- Your dollar buys more house. Median price per square foot has fallen 6% in two years, from $305 to $287. Today's $640,000 single-family median buys about 2,203 square feet, roughly 94 more than in 2024.
- Know where the negotiating room is. Waiting for a crash on detached homes hasn't paid off. The leverage is in condos and townhomes, where supply runs 5 to 9 months.
- Watch the stale shelf. 34% of active listings have been on the market more than 90 days, and 60% have already taken a price cut. A listing like that is a very different negotiation.
- Compete with cash. With more cash buyers than usual, a strong pre-approval and a responsive lender help close the gap.
What This Means for Sellers
The market didn't disappear, it shrank. You're selling to the buyers still shopping at 7%, so price for them on day one.
- The first two weeks matter most. Homes that went under contract within a week gave back a median of $5,000 (price reductions plus concessions). Homes that sat 91–180 days gave back $65,000.
- Homes aren't sitting. They're leaving. Well-priced homes still sell fast: a median of 29 days, and 1 in 4 went under contract within a week. But for every 10 homes sold in October, 9.2 expired or were withdrawn, up from 7.7 in August.
- Your segment sets your strategy. A house under $400K is in a seller's market. A condo is in a buyer's market. Don't let a metro-wide headline price your home.
- If you own a condo or townhome, last year's number may be too high. If you own a house, your value is likely close to where it was.
- Clean terms win. With more cash in the buyer pool, a quick close and simple terms carry more weight than they did a year ago.
The Bottom Line
Denver's market slowed, but it didn't break. Prices are holding, the right homes are still selling quickly, and buyers have more leverage than they've had in years, especially on condos and townhomes. Whether you're buying or selling, the strategy now depends on your exact price point, property type and neighborhood.
Thinking about a move this winter or next spring? I'd love to walk you through what these numbers mean for your home or your search. Reach out anytime at Andrew@TheKnollTeam.com or (720) 202-5092.
Andrew Hersey, The Knoll Team at West and Main Homes
Source: REcolorado MLS data for Adams, Arapahoe, Broomfield, Denver, Douglas and Jefferson counties (single-family, townhome and condo). Mortgage rates: Freddie Mac Primary Mortgage Market Survey. Information deemed reliable but not guaranteed. Not legal, financial or tax advice.