M
etro Denver has flipped from a seller’s paradise to a buyer’s market this summer, a trend that is expected to deepen as the housing cycle slows. Homes.com’s market‑analytics director, Jeannie Tobin, noted that the city’s inventory hit a 14‑year high in July, the most listings seen since the post‑recession boom. The surge in supply has pushed the region into a buyer‑dominated environment, a status that the portal officially declared.

    Denver remains one of the nation’s most expensive metros, ranking eighth overall and the highest among inland major cities. Yet single‑family prices have hovered in a narrow band since early 2022, and the median sale price in August rose only 0.3 % year‑over‑year to $587,000—well below the national 2.4 % gain. For context, August 2021 saw a 17.4 % rise, 2022 a 6 % increase, 2023 a 1.3 % jump, and 2024 a 0.6 % rise.

    Tobin predicts further price declines through the rest of the year, though the outcome will hinge on next year’s peak selling season. Lower mortgage rates could spur demand and rebalance the market, but condo prices fell 8.7 % annually in August, pressured by luxury apartment competition and rising HOA fees tied to higher insurance and maintenance costs on older units.

    Zillow still labels Denver “balanced,” yet Redfin reports that sellers outnumber buyers by 57.1 % in the metro—10,126 buyers versus 15,905 sellers—an increase from a 7.9 % seller advantage a year earlier. Denver ranks 18th out of the 50 largest metros for buyer dominance, and Redfin calls the 49.2‑percentage‑point swing the largest among the top 50 cities. Other metros that made rapid shifts include Las Vegas, Seattle, Nashville, and Detroit.

    Local Redfin agent Tamara Mattox‑Kabat observes that the city now has more homes for sale than in recent memory. First‑time buyers are uncertain about affordability and hope mortgage rates drop further, though a rate decline could also lift prices.

    Buyer‑market dynamics mean longer sales cycles, more price reductions, and flat or falling prices. Frustrated sellers are pulling listings off the market; national delistings rose 57 % year‑over‑year in August, per Realtor.com. While this reduces competition, it also exposes sellers to future price drops if inventory swells again.

    Mattox‑Kabat advises sellers to pre‑inspect for health and safety issues, hire a cleaner, refresh carpets, touch up paint, declutter, and stage the home to present a pristine, move‑in‑ready look. Buyers favor clean, low‑maintenance properties with minimal inspection concerns.