Denver Home Sellers Slashing Prices, “Finally Coming to Terms” with Market

In a city where literal meth houses list for nearly half a million dollars, homeownership feels increasingly unaffordable. But the tides are turning.

Among major United States metros, Denver placed in the top ten for the highest percentage of home listings with repeated price reductions, according to a report from Realtor.com released on February 20.

Nearly 16 percent of Denver’s active home listings in January underwent at least three price cuts since the properties first went on the market, the report found. That’s compared to the national average of 10.7 percent.

“Home sellers are finally coming to terms with what a normal market feels like,” Unlock MLS research adviser Vaike O’Grady explains in the report.

The median sale price for homes in Denver was $571,250 in January, according to Redfin. That’s down from $614,000 in October, but up slightly from $562,500 in January 2025.

Meanwhile, Denver’s year-over-year home sales are down and the time that homes spend on the market is up. There were 440 homes sold in January, a 21 percent decrease from the 557 homes last year, according to Redfin. Homes spent a median of seventy days on the market before being sold, a thirteen-day increase from last year.

In the Realtor.com report, experts attributed recent price slashings in some metro markets to “a post-pandemic correction.”

“These markets enjoyed a time of overinflated pricing fueled by pandemic moves by buyers from higher cost areas, but in many areas, the values were simply propped up by the fact that interest rates were low, otherwise these properties wouldn’t have reached the pricing thresholds they did,” says real estate broker Cara Ameer. “It’s like a balloon losing air slowly.”

Denver’s post-pandemic peak came in April 2022, when the median sale price for homes was $650,000, according to Redfin. Despite the record-high price tags, homes spent a median of just five days on the market, and nearly 1,400 homes were sold in one month.

With active listings holding steady but demand dwindling, sellers can either cut their asking price or pull their property off the market. An October report from Realtor.com found that Denver had the second-highest rate of delistings in the country.