Denver home sales rise in March with growing inventory and higher prices

DENVER — Buyer activity increased in the Denver metro housing market in March as new listings rose and pending sales climbed, according to a report released by the Denver Metro Association of Realtors.

New inventory increased 19.94% from February, while pending sales rose 30.69% month over month. Mortgage rates rose above 6% during the month, and financial markets were volatile, yet buyers continued to purchase.

The increase in activity was seen across housing types. Pending sales for detached homes rose 30.03%, while attached properties increased 32.99%. The close-price-to-list-price ratio reached 99.13%. Median days on market fell 50% from February to 16 days.

The median closed price increased 2.61% from February to $590,000. The average closed price rose 4.34% to $711,493. Active listings totaled 9,846 at the end of March, up 9.55% from the prior month and 0.84% higher than March 2025.

Year over year, the attached housing segment continued to lag. Closed sales for condos and townhomes fell 8.48% compared with March 2025, while median days on market increased 42.86%.

So far in 2026, closed sales are down 5.04% compared with the same period last year. The median closed price has declined 1.69% to $580,000. Attached home sales remain weaker, with year-to-date closings down 13.02%.

“March’s numbers carry a broader message for the Denver Metro market heading into spring,” said Amanda Snitker, chair of the association’s market trends committee. “The buyers who showed up despite rising rates and economic uncertainty didn’t just create activity; they validated a market that has been quietly finding its balance for three years.”

In the higher-priced segment, homes priced at $1 million and above showed continued demand. Detached homes priced between $1 million and $1.49 million had 2.56 months of inventory and accounted for 301 closed sales, about 11% of all transactions in March.

Closings for homes priced above $2 million increased 62.75% from February, though inventory in that segment stood at 5.64 months. Year to date, sales in this category are down 10.78% compared with 2025.

New listings in the $1 million and above segment rose 8.33% in the first quarter compared with the same period last year. Closed sales increased 1.37% year over year and 36.02% compared with 2024. Total sales volume was down 0.62% from last year but up 10.74% compared with 2024.

“The most notable shift in 2026 is time on market,” said Susan Thayer, a member of the market trends committee. “Properties are taking longer to sell.”

Homes in the $1 million and above segment averaged 62 days on the market year to date, with a median of 21 days, compared with 24 days and 4 days in 2022.

The highest-priced home sale in March was 11 Cherry Hills Drive in Cherry Hills Village, which sold for $9.75 million in an off-market cash transaction. The highest-priced attached property sold for $6.25 million at 2800 E. 2nd Ave., Unit 203, in Denver, also in an off-market cash deal.

The report includes data from multiple counties in the Denver metro area and is based on information from REcolorado.