Denver Real Estate Market Update – November 2025
A Market Finding Its Winter Rhythm
As the Denver real estate market moves deeper into the seasonal slowdown, November’s housing data reveals a market continuing to recalibrate—balancing rising inventory with steady buyer activity and a pricing environment that’s holding firm despite shifting dynamics. Below is this month’s breakdown across the four core metrics we track each month.
1. Active Listings – Inventory Keeps Building
- Nov 2025: 10,506
- Nov 2024: 9,310
- Year-over-year change: +13%
Inventory continues its upward climb, marking another month where buyers have more choices than they’ve had in years. While this isn’t an oversupplied market, the trend toward normalization is clear. Sellers are facing more competition, and pricing strategy matters more than ever heading into winter.
2. Average Days on Market – Pace Slows Further
- Nov 2025: 58 days
- Nov 2024: 46 days
- Year-over-year change: +26%
Homes are taking longer to sell, with DOM stretching by nearly two weeks compared to last year. This is a classic hallmark of a market returning to balance—buyers have more breathing room, and homes that aren’t priced or presented well are sitting longer.
3. Average Closed Price – Prices Hold Steady
- Nov 2025: $706,996
- Nov 2024: $691,758
- Year-over-year change: +2%
Even with inventory rising and days on market lengthening, pricing has remained remarkably stable. Denver continues to show resilience, with only modest year-over-year appreciation but no signs of meaningful price softening.
4. Closed-to-List Price Ratio – Slight Dip, Still Solid
- Nov 2025: 98.2%
- Nov 2024: 98.5%
- Year-over-year change: –0.3%
Sellers are landing just a touch below list price on average, a slight downward shift but one that reflects a more balanced negotiation environment—not a weakening market. Well-priced homes are still attracting strong offers, while over-priced listings are facing price reductions.
Takeaway: A Market Resetting Into Balance
November reinforces the broader 2025 theme: Denver is settling into a more sustainable, predictable market cycle. Inventory is building, pace is slowing, but prices remain steady. For buyers, this means opportunity and negotiation space. For sellers, preparation and pricing are more important than at any point in recent years. Reach out to a CJV Real Estate expert and we can discuss how to reach your real estate goals.