Denver Metro MARKET UPDATE

2022 is now over and what a year it was. During the last half of 2022, the real estate market showed strong signs of normalizing after the 2021 COVID-driven boom. The first half of the year saw incredibly high buyer demand, and it felt similar to the 2021 market. The market started to shift when mortgage interest rates started to rise. This was intended to tamp down buyer demand, but even with limited inventory in Denver Metro—which saw a decrease of 9.7% for new listings in 2022 compared to 2021—the region still managed to have historically high appreciation, averaging 11.8% for the average detached home price.

The media and many “experts” anticipated that home prices would fall in, but that hasn’t been the case in highly sought out areas, including Denver Metro. To further understand the Denver market, one must look at Denver’s micro markets because there are many nuances within a small geographic region. In 2022, Central Park saw a 15.1% average price increase as compared to 2021, and the Cheesman Park saw a 16.1% decrease for the same time period.

We recognize each neighborhood is unique and no two regions respond to market shifts the same way. To present an accurate picture of each of these communities that make up Denver Metro, LIV Sotheby’s International Realty is proud to present our year-end Micro Market Report, representing the metrics of many key and beloved neighborhoods.

The Denver Metro home market is making its way back to its regularly observed seasonal buying and selling trends. This high-demand market will continue to create opportunities for both buyers and sellers to create the life they love.

Counties: Adams, Arapahoe, Broomfield, Denver, Douglas, Jefferson