People ask me this every week, and the honest answer is: it depends on what you’re buying. Denver isn’t one market right now. It’s at least two, and they’re moving in different directions. Let me walk you through both, using October 2026 data from DMAR.
Detached homes: steady, not soft
If you want a detached single-family home, here’s the picture. The median close price in October 2026 was $645,000, down less than 1% from a year earlier. Prices are essentially flat — not climbing like they did a few years ago, and not falling either.
Well-priced homes are still moving. In September 2026, homes spent a median of 32 days in the MLS, and sellers received 98.45% of their list price on average. So if you’re picturing desperate sellers slashing prices on detached homes, that’s not what the data shows.
What has changed is the pace. Closings in October were 2,748 — down 23.54% year over year, the fewest October closings since 2010. Fewer buyers are competing for each house, which means less pressure, fewer bidding wars, and more room to negotiate on terms even when the price itself holds.
Condos and townhomes: this is the buyer’s market
Condos and townhomes are a different story, and if I were a first-time buyer, this is where I’d be looking hardest.
In October 2026, condos and townhomes had 7+ months of inventory. Anything over six months of supply is a buyer’s market by definition. The median close price was $375,000 — a very different entry point than $645,000 — and with that much supply, sellers know they have competition. Overall inventory across all of Denver was 4.72 months, so the condo segment is considerably softer than the market as a whole.
The number that changes the math: concessions
Here’s what tips the scales for a lot of buyers right now. In October 2026, 65% of Denver sales included a seller concession, averaging $12,557.
A concession is money the seller puts toward your side of the deal — closing costs, or a rate buydown that lowers your monthly payment. Twelve thousand dollars toward a buydown can matter more to your monthly budget than a small price cut. Two out of three sellers said yes to something. That tells you the negotiating table is open in a way it simply wasn’t a few years ago.
Pending sales were down 22.3% year over year in the four weeks ending October 25, which means the buyers who are active are facing less competition — and sellers know it.
What about rates?
The 30-year fixed rate was 7.18% on November 5, its third weekly drop in a row. I’ll give you the same answer I give everyone: I don’t know where rates go next, and neither does anyone else. What I can tell you is that in this market, a seller-funded buydown is a realistic tool for managing the rate you actually pay — and that tool exists because inventory and slower sales give buyers leverage.
So — is it a good time?
If you’re buying a condo or townhome, the data says yes: supply is high, prices are softer, and sellers are negotiating. If you’re buying a detached home, it’s a fair time — prices are flat rather than inflated, you’ll face less competition than in recent years, and you can negotiate terms even if the sticker price doesn’t move much.
What I wouldn’t do is sit on the sidelines waiting for detached prices to drop. The October numbers show them down less than 1% in a full year. Flat is flat.
The right answer for you depends on your budget, your timeline, and your segment. If you want to run your actual numbers instead of reading headlines, call or text me at 720-810-8887, or use the contact page at daxonre.com/contact/. I’m Daxon McInnis with Obsidian Real Estate Advisors, and I’ll walk you through it straight.