This weekend, metro Denver crossed a meaningful threshold in inventory—surpassing the highest listing count we saw during all of last year, which didn’t occur until the fall. While this may feel like a significant jump, it’s helpful to keep historical context in mind. The last time we had this many homes for sale was over a decade ago, and even then, the market had far more inventory than what we’re seeing today. Back in the mid-2000s, supply was several times greater than it is now, and the balance of supply and demand was far less favorable to sellers. Today’s inventory may feel high, but it’s still within a range that suggests moderate demand. It’s not just about how much is for sale—it’s about who’s ready to buy.

Active listings continued to climb this past week, marking another steady increase in available homes. Holiday timing did cause a drop in new listings compared to the week prior, and homes in “coming soon” status also dipped a bit. That said, both metrics remain stronger than they were at this time last year, reinforcing how the market tends to behave around holidays—slowing down temporarily, then bouncing back.

On the buyer side, fewer homes went under contract compared to the previous week and the same time last year. The market cooled slightly heading into the holiday, and now we’ll be watching for activity to rebound in the weeks ahead. The balance of supply and demand continues to lean toward a longer time on market for many listings.

The Odds of Selling within the next 30 days declined again last week. This trend is expected, given the larger pool of active listings and the relative pacing of buyer demand. Even though this number is lower than it was one year ago, it still reflects a market where well-positioned homes can and do move—just not as quickly or universally as last spring.

Showings also dipped week over week. Fewer appointments were scheduled, and the average number of showings per property decreased. However, many homes still went under contract within a relatively short window. What we’re seeing is a tale of two markets: some listings are snapped up in the first couple of weekends, while others linger without interest.

The rate of price reductions held relatively steady. A significant portion of homes that went under contract had at least one price cut before finding a buyer. However, the size of those reductions is shrinking slightly, which may suggest that sellers are adjusting expectations earlier—or that homes are being priced more strategically from the outset.