Denver Residential Market Update For April
April brought a positive, steady pace across the Denver residential market with a continued increase in closings and new listings and also with fewer days on the market as spring activity moved forward. Interest rates fluctuated considerably throughout the month and currently, they are hovering around 6.37%. The 10-year average for expired listings in April is 677, but we are looking at 1,157 expired listings as of this April, so we are still well above the long-term average. Months of inventory also remained at 3 months in April. Let’s dive into the key market data for the Denver residential real estate market to see what is happening with supply, demand, sales prices, and months of inventory for April 2026.
Supply
In April, we had 6,857 new listings hit the market. This was up 10.4% from March, but it was down (5.8%) from April 2025. This expands the options for potential buyers.
The total amount of active listings at the end of the month was 12,698. This is up 10.7% from March 2026. The 10-year April average from 2016 to 2025 is 7,571 listings, so we are also above our long-term average for active listings.
The most recent report for detached home construction starts is March 2026. The Denver Metropolitan Statistical Area (MSA) pulled permits on 746 homes. This is lower than the five year average of 988 for March. Year to date construction starts for March 2026 compared to year to date construction starts in March 2025 shows a (9.6%) decline.
In terms of active listings, the supply is in a better position compared to the last three years, but we are also seeing less new construction starts within the same timeframe.
Demand
Showings are a great leading indicator for demand in the residential real estate market. There were 63,712 showings booked through the largest showing service in the Denver metro area during April.
This is up 3.6% when compared to April 2025. The average amount of showings for April, over the last five years, is 85,465. Therefore, we have fewer showing requests than previous years.
Denver had 4,151 properties go under contract in April 2026. This is down (-2.3%) compared to March 2026 but is up 7.5% compared to April 2025.
There were 4,003 closings in April 2026 compared to 3,688 in March 2026, representing a 8.5% increase. A year ago, we had 3,980 closings in April 2025, so the volume of closings is greater this year by 0.6%.
The median days on market for April was 14 days, decreased from 16 days in March. This means half of the properties listed are under contract in 2 weeks or less.
The list price to close price ratio remained at 100.00%, indicating that sellers are getting exactly what they are asking.
All in all, demand for housing is stronger when we look at showings and when we look at closings. Let’s look at the median sales price.
Sales Prices
In April, the median sales price increased from $585,000 to $599,975. This metric includes detached and attached properties. The median price increased 2.6% over March but remained the same (0.0%) from April 2025.
The long-term average appreciation for residential real estate is 6%. Rising prices and interest rates will continue to temper appreciation in the short run. Tight inventory is helping to prop up the market.
Although prices have not changed year-over-year, we are encouraged to see the median price increase as we get into the summer months, prominently in the month of June.
Let’s look at months of inventory now.
Months of Inventory
Months of inventory is a great indicator to watch for market trends. Typically, a seller’s market has 0-3 months of inventory. A balanced market has 4-6 months of inventory, and 7+ months of inventory is a buyer’s market. In a seller’s market prices go up. In a buyer’s market prices go down.
With 12,698 listings on the market and 4,003 closings in April, the months of inventory is at 3 months or 13.59 weeks of inventory. Therefore, the inventory is starting to lessen when compared to the demand which will result in the rise of prices.
Overall, months of inventory is a great metric to watch.
Final Thoughts
In conclusion, supply, demand, median sales price, and months of inventory are ideal key performance indicators to watch for market trends. Supply is way higher than the record lows of 2021 and 2022 and is also higher than the long-term average. Overall demand is continuing to increase and pace the market, even in the face of relatively high interest rates. We believe there is a tremendous amount of pent up demand happening right now and as soon as rates come down, even more buyers will enter the market. Three months of inventory points to a Denver residential market that will continue to see an increase in listing prices, for now.
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