Denver Residential Market Update For June
Although the month was faced with declines in both new and closed listings, June reflected continued buyer demand and steady sales prices across the Denver residential market. Interest rates are also seemingly starting to come down as they have currently fallen to around 6.43%, heightening optimism for prolonged stability of buyer demand in Denver. The 10-year average for expired listings in June is 855, but we are looking at 1,712 expired listings as of this June, so we are still well above the long-term average. Months of inventory also increased back to 4 months in June for the first time since February. 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 June 2026.
Supply
In June, we had 6,043 new listings hit the market. This was down (2.9%) from May and down (3.2%) from June 2025. This limits the options for potential buyers.
The total amount of active listings at the end of the month was 14,084. This is up 2.0% from May 2026. The 10-year June average from 2016 to 2025 is 9,277 listings, so we are also above our long-term average for active listings.
The most recent report for detached home construction starts is May 2026. The Denver Metropolitan Statistical Area (MSA) pulled permits on 642 homes. This is lower than the five year average of 875 for May. Year to date construction starts for May 2026 compared to year to date construction starts in May 2025 shows a (9.7%) decline.
In terms of active listings, the supply is in a better position compared to the last three years, but we are also now 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 54,486 showings booked through the largest showing service in the Denver metro area during June.
This is down (4.2%) when compared to June 2025. The average amount of showings for June, over the last five years, is 66,024. Therefore, we have fewer showing requests when compared to previous years.
Denver had 3,698 properties go under contract in June 2026. This is down (3.2%) compared to May 2026 and is up 1.5% compared to June 2025.
There were 3,962 closings in June 2026 compared to 4,029 in May 2026, representing a (1.7%) decrease. A year ago, we had 3,972 closings in June 2025, so the volume of closings is less year-over-year by (0.3%).
The median days on market for June was 18 days, increased from 15 days in May. This means half of the properties listed are under contract in approximately a little more than 2 weeks.
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 June, the median sales price slightly decreased from $610,000 to $604,750. This metric includes detached and attached properties. The decrease in the median price represents a (0.9%) decline over May but 0.8% growth from June 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.
We are encouraged to see the median price continue to stabilize across the summer months, as historically, the data shows that is what occurs within the months of July and August.
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 14,084 listings on the market and 3,962 closings in June, the months of inventory is at 4 months or 15.23 weeks of inventory. The inventory is rising slightly when compared to May with 4 months of inventory indicating a return to a more balanced market, where we should expect prices to begin to stabilize.
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. Based on what we saw in June, buyer demand is going to continue and remain stable, even in the face of high interest rates that are slightly coming down. 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. Four months of inventory points to a Denver residential market that will start to see consistency in listing prices.
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