🏡 May 2026 Market Update 📊

Prices: The median sales price in May 2026 came in at $670,000, up from $659,900 in April. This marks the fifth consecutive month of price growth and continues the typical seasonal trend where home values strengthen through late spring. Since January, median prices have increased by more than $57,000, reflecting strong buyer demand and limited inventory of desirable homes.

As more buyers compete for a limited supply of well-maintained homes in desirable neighborhoods, upward pressure on prices has remained steady. While appreciation is occurring at a healthier and more sustainable pace than the rapid gains seen in prior years, the data clearly shows that demand continues to outpace supply in many segments of the single-family market.

Days on Market: Median Days on Market came in at 11 days in May, compared to 10 days in April. While this represents a slight increase month-over-month, homes are still selling exceptionally quickly by historical standards. The market remains dramatically faster than it was earlier this year when median days on market stood at 49 days in January. Well-prepared and competitively priced homes continue to attract strong interest and tend to go under contract in less than two weeks.

This sustained pace of sales is a clear indication that buyer demand remains strong heading into the summer season. Although inventory has gradually increased, it has not been enough to significantly slow the market for desirable homes. Buyers who hesitate risk missing opportunities, while sellers continue to benefit from strong showing activity and shorter marketing times. The data suggests that competition remains healthy, particularly for homes that are updated, move-in ready, and priced appropriately for current market conditions.

May continued to show strength in our spring selling season. Buyers remain active, competition is healthy, and sellers continue to benefit from rising prices and fast-moving inventory.

While buyers may have slightly more options than they did earlier in the year, desirable homes are still commanding significant attention. Sellers who focus on presentation, pricing, and marketing strategy are positioning themselves for the strongest results.

Year Over Year Comparison

The market has now surpassed both May 2025 and May 2024 pricing levels, demonstrating continued resilience in the Denver metro single-family housing market. Compared to May of last year, prices are notably higher, with May 2026 reaching $670,000 versus approximately $665,000 in May 2025 and roughly $652,500 in May 2024. Buyers continue to prioritize quality homes in desirable locations, helping maintain upward pressure on prices despite affordability challenges and elevated interest rates.

The fact that prices have continued to appreciate while borrowing costs remain higher than the ultra-low-rate environment of previous years highlights the strength of underlying demand. Limited inventory, population growth, and homeowners holding onto low-rate mortgages have all contributed to a supply-constrained market. As a result, well-maintained and move-in-ready homes continue to command premium pricing, while buyers remain willing to compete for the right property. This ongoing price growth reinforces the long-term stability and desirability of the Denver metro market.

Month Over Month Comparison

The Denver metro single-family housing market continued its strong upward momentum throughout the spring of 2026. Median sales prices climbed from $640,000 in March to $659,900 in April and reached $670,000 in May, reflecting steady buyer demand and continued appreciation as we moved toward the summer market.

At the same time, homes sold exceptionally quickly, with median days on market remaining between 10 and 12 days for all three months. This combination of rising prices and rapid sales activity indicates a highly competitive environment where well-prepared, properly priced homes are attracting strong interest and going under contract fast. While inventory has improved compared to previous years, buyer demand continues to outpace the supply of desirable homes, keeping upward pressure on prices and creating favorable conditions for sellers.

When Should I Buy??

The best answer, especially if you don't already own real estate, is that you should buy what you can afford as soon as you are preapproved for a mortgage. This first step into real estate is often NOT to buy your dream home. Rather, you are entering the market so you can leverage it to buy your dream home in another few years.

Your starter home acts as a savings account towards your dream home in 2 ways: the equity you build by paying down the loan balance and the the equity you build through the home's appreciation in value. Your equity and regular savings will get you into your dream home much faster than savings alone.

In the graph below, you can see how people in the US who don't own real estate don't have any net worth to speak of, while those who own a home typically have about $200-400k in net worth.