The Denver metro market is sending increasingly clear signals as we move into the back half of summer. Inventory is still below last year but growing — and unlike 2025, it has not yet peaked and reversed. Pending contracts have now come in below last year’s pace for 13 consecutive weeks, showings remain soft, and price reduction rates continue to climb. Closed prices are falling year-over-year across every property type. The data this week tells a consistent story: the market is shifting in the buyer’s favor, and sellers who don’t price ahead of that shift are experiencing it the hard way.
12,621 Active Listings
1,151 New Listings — Activity Stabilizing
After declining year-over-year in 13 of 14 weeks earlier this year, new listing activity has stabilized over the past seven weeks. Gains in four of those weeks point to a gradual reversal of the supply contraction that defined the first half of 2026.
Median original list price:
- SFR: $660,000
- Condo: $339,000
- Townhome: $472,500
Demand Signals Weakening
797 New Contracts — 13th Consecutive Week Below Last Year
The contrast with the first half of 2026 is stark. Over the first 13 weeks of the year, pendings ran 3.9% above last year’s pace. Over the last 13 weeks, they are 6.8% below it.
Median days to contract by property type:
- SFR: 24 days
- Townhome: 27 days
- Condo: 42 days — 50% of condo contracts were on market more than 60 days, including 25% beyond 120 days
For SFR, the time-to-contract breakdown shows a market that still rewards accurate pricing:
- 22% were under contract in 7 days or less
- 34% in 15 days or less
- 52% in 30 days or less
- Only 7% were on the market longer than 120 days
720 Closings — Prices Falling Year-Over-Year
| SFR | Condo | Townhome | |
|---|---|---|---|
| Median closed price | $640,000 | $302,500 | $435,000 |
| vs. last year | -3.0% | -6.9% | -7.5% |
| Median days on market | 21 | 47 | 38 |
| Concession rate | 63.4% | 57.3% | 75.4% |
| Median concession | 1.7% | 2.9% | 1.9% |
| Net ratio (after concessions) | 96.8% | 93.7% | 94.4% |
| Closed over asking (gross) | 16.9% | 7.3% | 5.8% |
| Closed over asking (net) | 11.2% | 3.7% | 4.3% |
56.3% of Active Listings Have Reduced — 21 Consecutive Weeks Rising
Median reduction by property type: SFR 4.0% | Condo 5.4% | Townhome 4.1%
Cities over 60% reduced
Highlands Ranch 71.1%
Lakewood 71.0%
Commerce City 61.7%
Thornton 60.7%
Dropped below 50%
Westminster 49.0%
Erie 47.9%
Improving over 5 weeks
- Centennial: 65.1% → 58.8%
- Morrison: 62.5% → 56.5%
Worsening over 5 weeks
- Golden: 47.2% → 57.8% (+10.6%)
- Lakewood: 62.0% → 71.0% (+9.0%)
- Evergreen: 48.3% → 55.6% (+7.3%)
- Commerce City: 55.5% → 61.7% (+6.2%)
Rising Across All Property Types
The Big Picture
The weight of this week’s data points in one direction. Inventory is growing, listings are sitting longer, price reductions are at a 2026 high, showings are soft, and closed prices are falling year-over-year across every segment. The 10-week streak of median contract DOM running below last year has ended — meaning the speed advantage that well-priced homes enjoyed earlier this year is fading.
The condo market remains the most challenged, with 93.7% net closing ratios and 50% of contracts taking more than 60 days to find a buyer. SFR is holding up better — a 96.8% net ratio and 24-day median contract time — but even there, the absorption rate and showing data point toward further softening.
For sellers, the lesson from both the expired listing data and the price reduction trends is clear: the market is not going to meet an overpriced home halfway. For buyers, the leverage is real — and growing.
Based on information from REcolorado®, Inc. for the period August 2 through August 8, 2026. This representation is based in whole or in part on content supplied by REcolorado®, Inc. REcolorado®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by REcolorado®, Inc. may not reflect all real estate activity in the market.