Every August, I watch the market start to shift gears, and this year is no exception. Prices held steady in some corners and softened in others, homes are taking a little longer to sell than they were a month ago, and the pace of everything feels like it is settling in for fall. If you are thinking about buying, selling, or just keeping an eye on where things stand, here is what I am seeing in the numbers and what it actually means for you.
Where Prices Stand Right Now
Single-family homes across the Denver metro held their value well in August. The average closed price came in at $808,838, just 0.7 percent below July and up 2.0 percent from where we were a year ago. Median closed price was $647,500, up slightly from last August at $645,000. Price per square foot landed at $283, essentially unchanged year over year.
Condos and townhomes told a different story. Average closed price dropped to $424,820, down 4.2 percent from a year ago, and median closed price fell to $370,000, down 3.9 percent year over year. If you have been eyeing a condo or townhome, this is the softest that segment has looked in a while, and it is worth paying attention to.
What Inventory Looks Like
Active listings across the metro sat at 12,007 in August, down about 5 percent from last year, and new listings dropped 10.3 percent from July as we move past the busiest part of the selling season. Even so, new listings are still running 4.7 percent ahead of last year, so there has been more for buyers to choose from throughout the year than in 2025.
Months of supply came in at 3.64, which keeps us in a balanced market, not tipped heavily toward buyers or sellers. That number has held pretty steady all year, and it tells me the market is not overheated in either direction right now.
How Quickly Homes Are Moving
Homes took a median of 45.42 days to go under contract in August, up nearly 14 percent from July. That is a real shift from the pace we saw in early summer, when well-priced homes were often under contract within a couple of weeks. Even with that slowdown, we are still moving faster than we were this time last year, when the average sat at 46.87 days.
Sellers closed at 95.7 percent of their original list price on average, which tells me most homes are still finding buyers close to asking, though there is a bit more room for negotiation than there was in the spring.
What Actually Closed in August
Closed sales slowed down from the summer rush, which is completely normal for this time of year. Residential closings came in at 2,898 for the month, down from July, and condo and townhome closings followed the same seasonal pattern at 629. Across the broader metro, year to date sales volume is running about 12 percent behind last year. None of that means the market is struggling, it is simply fewer transactions happening at prices that have largely held steady, which is a very different story than a market where values are dropping.
What This Means If You Are Buying
If you have been house hunting and feeling like nothing quite works, this might be the moment to look again. Homes are sitting a little longer, sellers have a bit more flexibility, and condos and townhomes in particular are priced better than they have been in a year. New pending sales actually ticked up 2.7 percent from July to 3,149, so serious buyers are still out there writing offers, they are just doing it with a bit more leverage than they had a few months ago. If a single-family home is what you are after, be ready to move on the right one when you find it, that segment has not softened the way attached homes have, so well-priced properties in good locations are still drawing real interest and closing close to their asking price.
What This Means If You Are Selling
Pricing thoughtfully matters more right now than it did back in May. Homes that reflect where the market actually is today are still selling at a strong percentage of list price, close to 96 percent on average. The ones sitting longer tend to be priced for a market that has already moved on, usually because the seller is anchored to a number from earlier in the summer rather than where buyers are today. The upside for you as a seller is that fewer new listings came onto the market in August than in July, active inventory dropped about 4 percent from last month too, so you have a little less competition to stand out against than sellers did earlier this summer. If your home is priced honestly and presented well, this is still a market where you can move quickly and confidently.
A Note for Anyone Thinking Long Term
For buyers who are also thinking about this as an investment, the condo and townhome market is worth a second look. Prices there have softened more than anywhere else in the metro, and that kind of gap does not show up often. On the rental side, what tenants are paying has stayed essentially flat year over year, so if you are weighing a purchase you plan to lease out, it is smart to be realistic about rental income rather than assuming it will climb quickly. This feels like a market that rewards patience and good numbers over chasing a deal that looks good on the surface.
A Look at the Upper End of the Market
The $1 million to $2 million range continues to move with real energy. Homes there sold in a median of just 24 days in August, the second fastest pace of any price point in the metro. That segment saw 364 homes close against 527 new listings, which tells me buyers are still showing up with intention for the right property in that range. Homes above $2 million are moving more deliberately, with a median of 49 days on market, and sellers there seem to be taking their time rather than rushing to a number. If you are buying or selling in this part of the market, the story is the same one I always tell my clients, presentation and pricing still matter more than almost anything else, even when demand is strong.
If any of this raises questions about your own plans, whether that is buying your next home, selling the one you are in, or thinking through a purchase as an investment, I would love to talk it through with you. This is exactly the kind of market where having someone in your corner who knows the numbers and knows Denver makes the difference.
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