Higher Rates Caught Up With Denver's Market in October

October was the month higher mortgage rates caught up with the Denver Metro housing market. Sales slowed and buyers pulled back, but prices held and the homes that did sell moved a little faster than they did a month earlier.

Figures are from REcolorado's October 2026 Denver Metro report.

Sales cooled, prices did not.

Closed listings fell 5% from September to 2,757, and they were down 21% from 3,475 in October 2025. Pending listings dropped even more sharply, down 20% year over year to 2,573, and down 7% from September. Contract activity slowed faster than new listings came on, which is a clear sign buyers were more cautious.

Prices did not follow that drop. The median closed price rose 3% month over month, from $575,000 to $592,000, and finished less than 1% above last October.

More inventory, and a market that still leans toward buyers.

Sellers also pulled back. New listings fell 17% from September to 4,065, and were down 9% from a year ago. Even so, Denver Metro ended October with 12,807 active listings, up 6% from last October, and 20 weeks of inventory — five weeks more than a year earlier. That keeps the market leaning toward buyers heading into winter.

The backdrop: Freddie Mac's 30-year average opened October at 7.28%, reached 7.40% by mid-month, and eased to 7.32% on October 22 and 7.24% on October 29. The Fed held rates steady on October 28.

Inventory and days on market

Sellers added 4,065 new listings in October while 2,573 went under contract, so new supply still outpaced new demand by about 1,500 homes.

The homes that closed, though, did not sit longer. Median days in the MLS fell to 31, down from 33 in September and 35 last October. That was the first monthly decline since May, and it suggests well-priced homes are still moving.

With fewer homes going under contract than closed in October, November closings are likely to stay light.

Month over month

Here's how the top indicators moved from September to October, according to REcolorado:

• Median closed price: up 3%, from $575,000 to $592,000
• Closed listings: down 5%, from 2,904 to 2,757
• Pending listings: down 7%, from 2,754 to 2,573
• New listings: down 17%, from 4,879 to 4,065
• Median days in the MLS: down from 33 to 31
• Active listings: 12,807, up 6% from last October, with 20 weeks of inventory

We're seeing the regular seasonal slowdown meet fewer sales and higher inventory, which has brought a bit of an early cool-down on the activity side — even as prices and selling times held up for the homes that closed.

For home buyers

Fall buyers face less competition than at any point this year. Fewer people are writing offers, and there are more homes to choose from. Ask for inspection repairs, closing cost help, or a seller-paid rate buydown, especially on homes that have been listed for a few weeks.

The trade-off is the payment. With 20% down on a median-priced home, the move from 6.71% in early September to 7.40% in mid-October adds about $220 a month. A buydown can claw a meaningful share of that back, so get pre-approved and know your numbers before you tour.

For home sellers

There is less new competition coming on the market, but there are also fewer buyers out there. The sellers who win this season still price to the market on day one and show a home that's ready to move into. The 31-day median shows that well-priced homes are selling. Expect to talk terms. Offering a rate buydown or closing cost credit can do more for a buyer's monthly payment than an equal price cut.

If you're thinking about buying or selling this winter, I'd be glad to walk through what these numbers mean for your neighborhood and your next move.

Doug Young
Managing Broker | TCT Real Estate
623-210-0902
doug@tctrealestate.com