In short: 2,995 homes sold across the 11-county Denver metro in September, 17% fewer than last September. The median price was $575,000, down 1.9% from a year ago and $40,000 below the May peak. The number of homes for sale is almost exactly where it was a year ago. What changed is how many buyers are acting, and that pushed supply to nearly 5 months.
homes sold in September
median sale price
median days on market
sale price vs. list price
of supply
Last week I published my first Edgewater market report. This is the same exercise for the whole metro: every residential sale in REcolorado across Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties. Edgewater tells you about one small city. This tells you what the market around it is doing.
September compared with last September
| Sept 2026 | Sept 2025 | Change | |
|---|---|---|---|
| Median sale price | $575,000 | $586,000 | -1.9% |
| Homes sold | 2,995 | 3,621 | -17.3% |
| Median days on market | 31 | 35 | 4 days faster |
| Homes for sale | 14,010 | 13,982 | Flat |
| New listings | 4,887 | 4,953 | -1.3% |
| Sale price vs. list price | 99.4% | 99.2% | +0.2 points |
| Months of supply | 4.7 | 3.9 | Up |
The story is in two lines of that table. There were 14,010 homes for sale in September, 28 more than a year ago. Sellers listed about the same number of new homes too. But 626 fewer homes sold. Same supply, about a sixth fewer buyers closing on it.
That gap is why months of supply rose from about 3.9 to 4.7. I think of 4 to 6 months as roughly balanced, so the metro as a whole is no longer a seller’s market. Plenty of price ranges and neighborhoods still are. Edgewater, for example, is sitting at 3.1 months.
Prices are down a little, not a lot
The metro median peaked at $615,000 in May and has dropped every month since: $613,163 in June, $605,000 in July, $594,000 in August and $575,000 in September. Most of that is the calendar. Spring buyers pay more, and the homes that sell in the fall skew smaller and less expensive. Last year the median slid the same direction, from $590,000 in October to $568,750 in January.
Year over year, September is down $11,000, or 1.9%. A median also moves when the mix of homes that sell changes, so I read a 2% change as flat to slightly soft. It is not the price drop some headlines would suggest.
The homes that sell are still selling well
Fewer buyers did not mean slower sales for the homes that found one. The median home that sold in September was on the market 31 days, four fewer than last September. It sold for 99.4% of its list price, slightly better than a year ago.
Put those numbers next to the 14,010 listings and you get a market that sorts quickly. Buyers are comparing more homes than they were in the spring. When a house is priced in line with recent sales, they still move on it and pay close to asking. When it isn’t, it joins the pile. That’s the same pattern I found in Edgewater, just on a bigger scale.
The last 13 months
| Month | Median sale price | Homes sold | Median days on market | New listings | Homes for sale |
|---|---|---|---|---|---|
| Sept 2025 | $586,000 | 3,621 | 35 | 4,953 | 13,982 |
| Oct 2025 | $590,000 | 3,586 | 33 | 4,480 | 13,394 |
| Nov 2025 | $580,000 | 2,864 | 36 | 2,606 | 11,364 |
| Dec 2025 | $575,000 | 3,233 | 45 | 1,762 | 8,787 |
| Jan 2026 | $568,750 | 2,032 | 53 | 4,453 | 9,103 |
| Feb 2026 | $575,000 | 2,843 | 32 | 4,992 | 9,844 |
| Mar 2026 | $590,000 | 3,852 | 16 | 5,989 | 10,576 |
| Apr 2026 | $601,250 | 4,204 | 14 | 6,646 | 12,190 |
| May 2026 | $615,000 | 4,211 | 14 | 5,992 | 13,035 |
| June 2026 | $613,163 | 4,172 | 18 | 5,750 | 13,532 |
| July 2026 | $605,000 | 3,787 | 21 | 5,451 | 13,991 |
| Aug 2026 | $594,000 | 3,230 | 27 | 4,882 | 13,857 |
| Sept 2026 | $575,000 | 2,995 | 31 | 4,887 | 14,010 |
What usually happens next
Last year, new listings fell from 4,953 in September to 1,762 in December. Sales held up much better, between 2,864 and 3,586 a month through the end of the year. The result was that homes for sale dropped from 13,982 to 8,787 in three months.
If this fall follows the same pattern, the inventory that built up over the summer shrinks quickly between now and January. Buyers have the most choice they’ll have all year right now. Sellers who list in November or December will compete with far fewer homes, though they’ll also see fewer buyers.
What I’d do with this
If you’re selling this fall, price against the last 60 days of sales, not against what your neighbor got in May. With 14,000 homes for sale, buyers have comparisons and they use them. The well-priced homes are still getting 99% of asking in about a month. The ones that miss end up chasing the market down with price cuts.
If you’re buying, this is the best selection of the year and you have time to use it. Look closely at anything that’s been listed more than 60 days, and ask what the seller has already turned down. Also read up on the appraisal changes starting in November before you write an offer.
If you want to know where your own house fits in these numbers, start with a home value estimate or send me your address and I’ll pull the recent sales near you.
Source: REcolorado. Residential listings (single family, condo and townhouse) entered in REcolorado in Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties, September 2025 through September 2026, pulled October 12, 2026. September sales may rise slightly as late closings are entered. Months of supply is homes for sale divided by homes sold that month. All data deemed reliable but not guaranteed.
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Questions about the Denver metro market
Is Denver a buyer’s market right now?
Metro-wide it’s close to balanced. There were about 4.7 months of supply in September, up from 3.9 a year ago. That varies a lot by price range and neighborhood. Edgewater, for example, is at about 3.1 months.
Are Denver home prices dropping?
A little. The September median was $575,000, 1.9% below last September and 6.5% below the May peak. Most of the drop since May is the normal seasonal pattern. The median fell the same way last fall and winter.
Why are your numbers different from other Denver market reports?
Reports differ in which counties they count, which property types they include and whether they pull from more than one MLS. Mine covers residential sales in 11 counties from REcolorado. Zillow’s headline number is an estimate of what every home is worth, not what actually sold.