December 2025 Market Update (November Wrap-Up)

(All data sourced directly from the DMAR Market Trends Report – November 2025)

As we close the year, this December 2025 Denver market update brings clarity to a seasonally slower November and helps separate sensational headlines from actual market reality. The Denver metro area continues to follow predictable year-end patterns — and understanding these patterns is key whether you’re planning to buy, sell, or simply staying informed.

Below, I break down November’s numbers in a clear, approachable way so you can feel confident and empowered whenever it’s your time to make a move.

📉 Inventory & New Listings: Seasonal Slowdown in Full Effect

Per the DMAR report, total active listings dropped to 10,506, a 15.92% decrease month-over-month. This is not a sign of a collapsing market — it’s the same rhythm we see every holiday season. Historically, active listings decline an average of 13.15% from October to November, and this year followed nearly the same pattern.

The bigger story is new listings, which fell sharply to 2,620 — a 41.39% drop month-over-month. This mirrors almost exactly the same late-fall decline we saw in 2024. Sellers are stepping back, either for the holidays or to reposition for a January or early-spring relaunch.

Takeaway:
Expect limited inventory through December. If you’re a buyer, you may face fewer options — but also far less competition.

🏡 Pricing Trends: Stable, Not Sliding

November brought a slight seasonal dip in prices, but stability remains the overarching theme:

• Median close price: $585,000, down 0.85% month-over-month

• Detached median price: down 1.47% MoM

• Attached median price: down 1.96% MoM

On a year-over-year basis, pricing is essentially flat — detached homes are up just 0.02%, while attached homes are down 3.21%.

Why this matters:
After Denver’s massive 38.5% appreciation from March 2020 to April 2022, these mild annual shifts are signs of a healthy, rebalanced market, not an unstable one.

The long-term picture?
From March 2020 to November 2025, the cumulative median price increase still sits at 31.5%, equivalent to 6.3% per year.

Takeaway:
Prices have normalized — they’re not crashing. If you’re waiting for dramatic shifts, you’ll be waiting while others quietly take advantage of stability.

📊 Buyer Activity: Slower but Consistent

Closed sales: 2,734, down 23.37% MoM
Pending sales: 2,923, down 11.05% MoM

Again, this slowdown is expected. November and December are historically the quietest months of the year in Denver real estate.

Even so, homes are still selling. And with median days in MLS at 36 (up just 9.09% MoM), buyers continue to move when the right home hits the market.

Takeaway:
Buyers have a bit more breathing room — but well-priced homes still move.

📈 Months of Inventory: Still Balanced

The overall months of inventory (MOI) rose to 3.84 months, up 2.95% MoM.
This puts Denver comfortably in the balanced-market zone (4–6 months is typically considered balanced).

Breakdown by segment:

• Detached MOI: 3.96 months

• Attached MOI: 3.37 months

The detached segment continues to see steadier demand than attached properties, which are still feeling the pressure of rising HOA fees and insurance costs.

Takeaway:
Denver is functioning as a normal, stable market — not the dramatic seller’s market of 2020–2022, and not a distressed buyer’s market either.

🏙️ The High-End Market Stays Strong

The $1M+ market had a notably active November:

• Pending sales up 6.54% year-over-year

• Median days in MLS improved from 38 → 33 YOY

• Price per square foot increased from $376 → $385 YOY

Top sale of the month:
A Cherry Hills property closed at $17M after a single early price reduction — a reminder that even luxury sellers adjust pricing when appropriate.

Takeaway:
The luxury segment remains resilient, data-driven, and remarkably unaffected by holiday noise.

📦 Mid-Range Market ($500K–$749K): The Backbone of Denver Real Estate

For detached homes in this range:

• MOI: 2.85 — the strongest demand of any price segment

• This slice represents 39.49% of active inventory

• And an even more impressive 44.60% of closed sales

Attached homes tell the opposite story:

• MOI: 6.89, firmly a buyer’s market

• Attached closed sales dropped 37.66% MoM

Takeaway:
If you’re selling a detached home in this price range, the demand is still there. If it’s an attached home, pricing strategy and presentation matter more than ever.

🏘️ Rental Market Snapshot

Per the DMAR rental data:

• Single-family median rent: $2,700 (flat MoM)

• Multi-family median rent: $1,465, down from $1,558 in October

• Days on market rose slightly for both

Takeaway:
Renters have a little more negotiation power than earlier in the year — but many experts expect tightening in 2026 as permitting drops and investor activity cools.

🔮 What to Expect Heading Into 2026

Denver’s market is calm, stable, and predictable — exactly what long-term homeowners want to see.

• Expect low inventory through December and early January.

• Seller activity typically increases sharply in February and March.

• Mortgage rates dipping into the low 6% range may bring more buyers back into the fold.

• Balanced inventory will keep negotiations normal and healthy.

If you’re planning to buy or sell next year, the data suggests 2026 will offer opportunity, not volatility.

Final Note

If you’re reading this December 2025 Denver market update and wondering how these numbers impact your upcoming move, I’m here to help break it down. Whether you want a custom neighborhood-level analysis or you’re simply planning ahead for 2026, I’ve got you. Contact me HERE to get started, or watch my YouTube videos to learn more!

Whenever you’re ready, I’ll be right here to guide you through the process with clarity, strategy, and a whole lot of Denver market expertise.