Denver Market Update: What September Tells Us About Fall

Every month I dig into the numbers from the Denver Metro Association of Realtors so you don’t have to. Here’s what September looked like across the metro, and what I think it means if you’re thinking about buying or selling this fall.

The quick snapshot

• 2,849 homes closed, about 21% fewer than last September and the slowest September since 2008.

• 13,567 homes were for sale at the end of the month, or about 4.8 months of inventory.

• Single-family homes: the median sale price so far this year is $650,000, the same as each of the last two years.

• Condos and townhomes: the median sale price is $365,500, down about 6% from a year ago, with more than 7 months of inventory.

• Homes sold for about 98.5% of their list price, in a median of 32 days.

What’s behind it: rates

Mortgage rates climbed every week in September and are now above 7%, after the Federal Reserve raised rates in mid-September for the first time since 2023. Most September closings went under contract in August, so we probably won’t see the full effect of higher rates until the October and November numbers come out.

If you’re buying

This is a calmer market, not a crashing one. Prices on single-family homes have held steady, but you have more homes to choose from and more room to negotiate than buyers have had in years. Sellers are open to covering closing costs or buying down your rate, and an adjustable-rate loan may be worth a look. Fall tends to reward buyers who keep moving while others wait for spring.

If you’re selling

Pricing it right from day one matters more than ever. Well-priced homes are still selling in about a month and close to asking. If you own a condo or townhome, expect more competition and plan accordingly. Offering a rate buydown can be more appealing to buyers than a price cut, and if your home has an assumable FHA or VA loan, that’s a big selling point right now.

The luxury market is holding strong

Homes over $1 million are bucking the trend. Sales in that range are up about 2% so far this year, and those homes are selling in a median of just 21 days.

Every neighborhood moves a little differently than the metro as a whole. If you want to know what these numbers mean for your home or your search, reach out anytime. I’m always happy to talk it through.

Source: Denver Metro Association of Realtors, Market Trends Report, September 2026.