M
etro Denver has shifted decisively into the buyer's market, with a widening gap between home sellers and buyers. According to Redfin, a Seattle-based real estate brokerage firm, there were 16,357 active sellers in April compared to 11,526 buyers, giving Denver a 42% ratio in favor of buyers.

    This trend is part of a broader national shift, where 32 out of 50 markets are now in the buyer's camp. Nationally, homebuyers outnumbered sellers by 33.7% in April, with an estimated 1.5 million buyers and 1.9 million sellers. Denver ranked 19th among these markets.

    The imbalance between buyers and sellers is most pronounced in southern Florida, where sellers outnumber buyers three-to-one in Miami. Austin, Texas, and Phoenix are also experiencing a surplus of listings, with sellers outnumbering buyers by 124% and twice as many sellers as buyers, respectively.

    A surge in condos on the market has contributed to this imbalance, particularly in Florida. The collapse of the Surfside condo in July 2021 led to increased insurance premiums and HOA dues, making it harder for sellers to compete with buyers. Additionally, a post-pandemic influx of new residents in Florida is driving up demand for housing.

    Nationally, the condo market has swung most solidly in favor of buyers, with an overrepresentation of sellers by 83.5%. Redfin estimates that home prices will drop 1% nationally this year and advises sellers to act quickly before losing bargaining power.

    In metro Denver, the median price of a home sold is down 0.1% over the past year, compared to a 1.6% gain nationally. While Zillow predicts a 0.9% decline in home prices by next April, above-average demand remains in the area, with listings receiving 6.2 engaged buyers on average and half of homes selling within 11 days.