Colorado Real Estate: Market Update for December 2024 & Early 2025

Greater Metro Denver Real Estate Market Review – December 2024 and January 1–7, 2025

Whew, we made it!  Another year wrapped up and a fresh one just unboxed - like a shiny new gadget, full of potential but no clue where the charger is. As we catapulted from December 2024 into the first week of 2025, the Denver real estate market proved it’s got more twists than a snowy mountain road. But before we dive into the numbers, let’s kick things off with one of the quirkiest real estate tidbits I’ve ever uncovered.

Detached Single-Family Market – December 2024

December in the detached single-family market was about as lively as a Monday morning after New Year’s Eve.

• Inventory: Sellers collectively decided, “Let’s try again in spring,” as active listings took a nosedive. New listings slowed to a trickle, while expired listings piled up faster than leftover holiday cookies.
• Demand: Pending transactions softened compared to November, but surprisingly, they outpaced December 2023. Buyers were scoring deals left and right, with over 50% of sales closing below asking price and sellers dishing out concessions like Oprah hands out free cars. (“You get a rate buydown! And you get closing costs!”)
• Prices: No wild roller coaster here—prices stayed relatively stable. But buyers enjoyed more breathing room as days on market crept upward.
• Showings: Showings dipped, proving that Colorado’s winter vibes and holiday cheer are kryptonite for house hunters.

Attached Single-Family Market – December 2024

The attached market in December felt like a good book on a snow day—low drama but oddly satisfying.

• Inventory: Active listings dropped like a mic, as sellers chose hot cocoa and Hallmark movies over hosting open houses.
• Prices: Both average and median prices slid south compared to November and December 2023. Most homes sold below asking, and buyers had the leverage to negotiate some serious perks.
• Days on Market: Homes lingered longer, giving buyers plenty of time to weigh their options—or re-watch the “Die Hard” debate unfold. (Is it a Christmas movie? Yes. End of discussion.)
• Showings: Holiday distractions didn’t stop showings entirely; they followed typical seasonal trends, with a slight uptick compared to the previous year.

Weekly Market Update – January 1–7, 2025

New year, new… yawn. The first week of 2025 started slower than a traffic jam on I-70 during ski season, thanks to the usual post-holiday slump and—cue the drumroll—The Bronco Effect.

Yes, Denver’s beloved Broncos clinched a playoff spot, and as we all know, football reigns supreme. Sundays are now reserved for touchdowns, not showings. Historically, market activity spikes the weekend after the Broncos’ final game, so stay tuned for a potential surge.

Here’s what happened during Week 1:

• Inventory: Listings continued to shrink week-over-week, but inventory levels were significantly higher than the same period in 2024. The rise in “coming soon” statuses hinted at a busier spring ahead.
• Pending Transactions: A sharp week-over-week increase signaled that buyers were shaking off their holiday haze. However, activity remained muted compared to last year.
• Odds of Selling: The odds of snagging an offer in the next 30 days improved slightly from the previous week but were still lower than January 2024.
• Showings: Showings surged week-over-week, proving buyers are browsing again—but overall numbers lagged behind last year.
• Price Adjustments: Over 50% of homes under contract had undergone price reductions, a sign that strategic pricing remains king (or queen) in this market.

Final Thoughts

As we say goodbye to December and cautiously embrace 2025, Denver’s real estate market is serving up a mix of seasonal slowdowns and unique quirks. Buyers are enjoying an upper hand with more inventory, more time, and the ability to negotiate deals that would make their grandparents proud. Sellers, meanwhile, are gearing up for what promises to be a lively spring market.

Whether you’re buying, selling, or just curious about the word “boasts,” I’m here to crunch the numbers and keep you laughing along the way. Got burning real estate questions? Send them my way—I might just turn them into my next social media poll!

Here’s to a booming 2025 in Colorado real estate—Cheers! 🥂