City Lights Denver

Q4 2023 Denver Real Estate Market Update

Seasons Greetings!

As we approach the close of another year, I want to extend my warmest wishes for your holiday season. May you and your loved ones create lasting memories and cherish many meaningful moments at home together this year. This season is a time to celebrate, as well as a time for gratitude and reflection.

Local Sales Market Insight

Growing Inventory is a gift for Buyers this season. Active listings at month’s end increased 6.89% year-over-year to 6,684, new listings rose slightly by 1.04% to 2,717, and closed sales dropped 13.98%. The median days in the MLS (Multiple Listing Service) has grown to 22 days, which is up an astounding 37.5% month-over-month.

Local Rental Market Insight

  • Single-family rentals were healthy in November; median rents were up 2% at $2,750 versus $2,700 in October, and median days on market declined by 4 days from the prior month to 28 days.
  • Multi-family rentals showed a decrease in median rent and an increase in days on market. Median rents were down 3% to $1,550 and days on the market increased to 37 days, up for a third consecutive month.

Reminder for Denver Landlords  – If you own a residential rental property in Denver, you must obtain a Denver Residential Rental Licensed prior to January 1, 2024. Please visit the city’s website for more information.

Thank you for choosing me as your trusted local Realtor and allowing me to serve your real estate needs. I am grateful and proud to have you as a client. May the blessings of peace, hope, and joy be with you this season and always.


Current Rates (As of December 18, 2023)

Jumbo Pricing

30 Year Fixed – 6.5% Interest Rate

Conventional Pricing

30 Year Fixed – 20% Down – 6.375% Interest Rate

30 Year Fixed – 3% Down – 6.375% Interest Rate

FHA / VA Pricing

30 Year Fixed – 6.0% Interest Rate

Denver Rental Market snapshot