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New - 2 Days Ago
$550,000
Coming Soon
3
Beds
1
Baths
1158
Sqft
0.15
Acres
3060 N Garfield St, Denver, CO 80205
MLS#: 8081401
Is the Denver housing market crashing? No. As of October 2026, Denver home prices are down 1.7% from a year ago while sales are down more than 20%. That is a slowdown in buying, not a collapse in prices. Here are the October 2026 numbers for the Denver metro, the four signs that separate a crash from a correction, where prices are falling (condos and townhomes), and what 2027 holds for rates and prices, all from official sources.
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-1.7% Denver metro median price $565,000 in September 2026 (Colorado REALTORS) | 2,849 Denver metro closings Fewest for a September since 2008 (DMAR) |
4.76 Months of inventory Buyers set the terms (DMAR, September) | 7.40% 30-year fixed rate Freddie Mac, October 8, 2026 |
Watch: the Denver numbers in 32 seconds
The short answer: a slowdown, not a crash
A housing crash means prices falling fast because owners are forced to sell into a flood of listings. Denver has the opposite mix. The Colorado Association of REALTORS (September 2026 report, released October 13) shows the seven-county Denver metro median at $565,000, down 1.7% from September 2025, while active listings fell 10.4% over the same year. Fewer homes are selling, and fewer homes are for sale. CAR's own read: demand is weakening faster than supply.
The Denver Metro Association of REALTORS (DMAR, September 2026 report, released October 3) says the same thing in longer terms. The year-to-date median close price for detached homes is $650,000, matching each of the past two years. Since 2023, year-to-date closings have stayed within about six percent of one another. Prices are flat, sales are down.
The October 2026 numbers for the Denver housing market
October reports cover September closings. Here is what DMAR and the Colorado Association of REALTORS published this month:
| September 2026 | Number | Change from a year ago | Source |
|---|---|---|---|
| Denver metro closed sales (DMAR) | 2,849 | Down 21.39% | DMAR |
| Pending sales (DMAR) | 2,908 | Down 6.07% from August | DMAR |
| Active listings at month end (DMAR) | 13,567 | Seasonal summer peak | DMAR |
| Months of inventory (DMAR) | 4.76 | Buyers have room to negotiate | DMAR |
| Median days in the MLS (DMAR) | 32 | Down from 35 | DMAR |
| Close price to list price (DMAR) | 98.45% | Up from 98.32% | DMAR |
| 7-county metro median price (CAR) | $565,000 | Down 1.7% | Colorado REALTORS |
| 7-county metro single-family median (CAR) | $610,000 | Down 1.3% | Colorado REALTORS |
| 7-county metro condo and townhome median (CAR) | $375,000 | Down 6.2% | Colorado REALTORS |
| 7-county metro active listings (CAR) | Down 10.4% | Fewer homes for sale | Colorado REALTORS |
| Colorado statewide median (CAR) | $540,000 | Down 1.6% | Colorado REALTORS |
DMAR and the Colorado Association of REALTORS draw different county lines, so their counts differ. Both point the same way. For the month-by-month MLS numbers, updated from the live feed, see our Denver real estate statistics page. The news story behind the September report is on our News Desk: Colorado home sales fall 15% and 80% of Denver deals had cuts.
Crash or correction: the 4 signs to watch
| Sign | What a crash looks like | Denver, September 2026 |
|---|---|---|
| 1. Prices | Double-digit drops in a year | Metro median down 1.7%; detached YTD median $650,000, flat for 3 years |
| 2. Supply | Listings pile up as owners are forced out | CAR: metro active listings down 10.4% from a year ago |
| 3. Speed | Homes sit for months | DMAR: median 32 days in the MLS, down from 35 |
| 4. Discounts at closing | Homes close far under asking | DMAR: 98.45% of list price, up from 98.32% |
None of the four reads as a crash. What changed is negotiating power. The Colorado Association of REALTORS reports 49% of September metro sales had a price reduction, 64% included seller concessions, and 80% had one or both. Buyers are getting their terms, and prices are holding. Read how that plays out in Colorado leads the nation in price cuts. The one sign we watch closest is forced selling: see Colorado foreclosures in 2026.
Where Denver prices are falling: condos and townhomes
The one part of the Denver market that is dropping is attached homes. DMAR reports a September median close price of $365,500 for condos and townhomes, down 6.28% from a year ago, with 7.21 months of inventory. The Colorado Association of REALTORS shows the seven-county metro condo and townhome median at $375,000, down 6.2%, with 6.4 months of supply and 67 days on market. CAR names rising HOA fees, insurance costs and affordability as the drag. If you are shopping condos, start with HOA fees in Colorado and how to catch an HOA special assessment before closing.
The top of the market runs the other way. DMAR reports year-to-date sales of $1 million+ homes up 1.99% to 4,449 closings, with a median of 21 days in the MLS in September.
How this affects you
Buyers. With 4.76 months of inventory (DMAR) and 80% of metro sales carrying a price cut or concession (Colorado REALTORS), you set terms this fall. Ask for a seller concession toward a rate buydown or closing costs: see seller concessions for Colorado buyers, and get pre-approved through Colorado home financing first.
Sellers. Prices are holding, but buyers are scarce: Denver metro closings were down 21.39% in September (DMAR). Price to September sales, not spring sales. Get a free home value report and plan for concessions in your number.
Homeowners. A 1.7% dip on a $565,000 home is $9,605. If you bought in 2023 or earlier, the flat detached median since then means your equity is intact. Moving up? The soft buy side helps you: read how to sell and buy at the same time in Colorado.
The Colorado market. Statewide, the median is $540,000, down 1.6%, and closed sales fell 15.1% (Colorado REALTORS, September). Colorado Springs inventory is up 6.1% from a year ago with 4.6 months of supply; see the Colorado Springs real estate statistics.
What to watch out for
- Headlines that say "crash." A sales drop is not a price drop. Check the median price line, not the closings line.
- Condo payments. A lower condo price with a high HOA due costs more each month than it looks. Compare the full payment, HOA and insurance included.
- October and November closings. DMAR says the September rate climb shows up in those two months. Expect softer sales reports through year end.
- Waiting for a 2027 rate drop. The Federal Reserve's own September projections show no rate cuts in 2027 (details below).
- Overpriced listings. Sellers who start high and cut in small steps sit the longest. Ask for the price history before you offer.
What 2027 holds for Denver home prices and rates
No one publishes an official Denver price forecast for 2027, and we will not invent one. Here is what the official sources say about the two things that move Denver prices: mortgage rates and the Fed.
The Fed raised rates and projects no cuts in 2027. On September 16, 2026, the Federal Reserve raised its target range by 1/4 point to 3.75% to 4.00%, its first increase since July 2023 (DMAR). The Fed's September Summary of Economic Projections puts the median federal funds rate at 4.1% at the end of 2026 and 4.1% at the end of 2027. In June, that 2027 projection was 3.6%. Fed officials expect inflation (PCE) to ease from 3.7% in 2026 to 2.3% in 2027.
Mortgage rates are a full point above last year. Freddie Mac's 30-year fixed averaged 7.40% on October 8, 2026, up from 7.28% a week earlier and 6.30% a year ago. The 15-year fixed was 6.73%. The next Fed meetings are October 27-28 and December 8-9, 2026. We update Colorado mortgage rates every Thursday when Freddie Mac publishes, and we cover the lender outlook in rates at 7.5% through 2027.
Federal funds rate, Fed median projection for year end (%)
What that means for 2027: buyers waiting for cheaper money are waiting on a rate path the Fed itself does not project. DMAR's view is that Denver's opportunities "don't hinge on rates falling or prices climbing." Should you buy now or wait? Our full answer: buy a home now or wait for rates in Colorado.
What a Denver home costs each month at 7.40%
The $565,000 Denver metro median with 5% down is $3,716 a month in principal and interest at 7.40%. At last year's 6.30%, the same loan was $3,322, so the rate jump costs $394 a month.
| Home price | 3.5% down (FHA) | 5% down | 20% down | 5% down at 6.30% (a year ago) |
|---|---|---|---|---|
| $365,500 (DMAR condo/townhome median) | $2,442 | $2,404 | $2,025 | $2,149 |
| $565,000 (metro median) | $3,775 | $3,716 | $3,130 | $3,322 |
| $610,000 (metro single-family median) | $4,076 | $4,012 | $3,379 | $3,587 |
| $650,000 (DMAR detached YTD median) | $4,343 | $4,275 | $3,600 | $3,822 |
Principal and interest only, 30-year fixed. Property tax, insurance, HOA dues and mortgage insurance come on top. Run your own on the Colorado mortgage calculator. Short on cash? See CHFA down payment assistance, assumable mortgage homes (an older low rate comes with the house) and closing costs in Colorado.
Denver homes for sale this week
Below are Denver homes in the $400,000 to $600,000 range, pulled live from the MLS each time you open this page. Browse all Denver homes for sale, Denver homes under $400K, or nearby Aurora, Lakewood and Littleton. We refresh this guide every month when the new DMAR report comes out.
