"March 2025 is notable, marking five years from the beginning impacts of COVID-19 in Colorado. It's a historical experience in which we know the "before", the "during" and the "after." This trigger, the combination of sudden demand and historically low interest rates, began a surge in the real estate industry that would last 24 months, culminating in a peak median sale price in the Denver Metro of $616,500 in April of 2022, a 38.5 percent increase from March 2020. Five years later, we see the "after" - a market balancing out as normalcy returns, tempered by high interest rates. This March's median sale price in the Denver Metro was $599,000, down 3.9 percent from the peak. The balancing of the market has occurred with lower buyer demand, higher levels of inventory and stagnation in pricing. Primary residential homes are a longer-term investment; looking at the overall five-year performance of the market yields a 6.92 percent annual appreciation, which is in line with long-term averages."
Amanda Snitker
Chair of the DMAR Market Trends Committee | Denver REALTOR®
- LUXURY MARKET ($1,000,000+): "The "rush hour" in the Denver real estate market typically kicks off in March and winds down at the end of May. In the $1 million-plus segment, sellers came ready in March, adding a dramatic amount of inventory to the market. Buyers, however, were on the slower, more cautious route, especially those on the hunt for an attached home. As a result, March saw a higher volume of sales but lower prices and more deals for buyers. We are in a rocky year with a lot of economic uncertainty. Buyers are cautious, waiting and watching. They will only jump if a home is priced well for its location and condition. Sellers need to appreciate that it's not the pandemic market anymore." Colleen Covell, DMAR Market Trends Committee Member & Denver REALTOR®
- SIGNATURE MARKET ($750,000 - $999,999): "As we enter another spring market in Denver, it's striking to reflect on how far we've come since the COVID lockdowns, when showings were restricted, 15-minute appointment windows were the norm and closings sometimes happened in parking lots. Back then, demand surged amid low interest rates, remote work made designated office space essential and many families opted for homes in the foothills or countryside, no longer tied to a commute. Buyers overlooked poor locations and outdated homes just to get their foot in the door. Now, in 2025, we continue navigating compensation conversations, sticky interest rates and economic factors like probable tariffs and inflation." Keri Duffy, DMAR Market Trends Committee Member & Denver REALTOR®.
- PREMIER MARKET ($500,000 - $749,999) "Since 2020, we've seen increased activity in this price segment. Rising home prices have moved "starter" homes into it, and now, most transactions occur in this price range. In fact, last month there were 1,697 detached homes priced under $750,000 that closed, whereas only 975 homes priced above $750,00 sold. While we no longer write opinions about homes priced below $500,000, it is significant to point out that there are a large volume of attached homes transacting a that price point. In March, a total of 617 attached homes sold under $499,999, and another 174 priced between $500,000 - $749,999 also sold. The market does seem to be giving some relief to attached homeowners, who have been affected by rising HOA fees and insurance premiums. 28.99 percent more homes closed in March compared to February of this year." Susan Thayer, DMAR Market Trends Committee Member, and Denver REALTOR®.
*Remarks from Pages 14-15 of the March 2025 Market Trends Report from DMAR
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