Metro Denver home closings fell to a level last recorded in October 2010. Closings dropped 8.6% from September and 23.5% from a year earlier. Sales volume declined from $2.62 billion in October 2025 to $1.97 billion in October 2026, down 25% year over year, according to the Denver Metro Association of Realtors (DMAR).
What Area Does DMAR’s October Data Cover?
The October figures cover transactions across 11 counties in the Denver Metro Area, including Denver, Boulder and Jefferson counties, according to DMAR’s report.
Why Buyers and Sellers Are Holding Back
Market participants faced competing reasons to delay a decision, according to The Denver Post. Amanda Snitker, chairwoman of the DMAR Market Trends Committee and a local realtor, said sellers worried about the price they might get, while buyers weighed the risk of paying too much against the possibility of a better deal later. The Post also cited midterm election uncertainty, inflation and broader economic concerns as factors affecting decisions.
The slowdown also showed up in measures of upcoming activity. Pending sales fell 7.3% from September and 20.3% from October 2025; new listings were down 16.7% month over month and 9% year over year. Active listings slipped 4.3% from September to just under 13,000. The Post reported that some owners with low mortgage rates have little urgency to sell if they can wait.
Higher Rates Are Still Working Through the Market
Thirty-year mortgage rates reached about 7.5% before easing in October 2026. The DMAR Real Estate Market Trends Report says the 30-year fixed rate rose each week in September and topped out near 7.5% by the end of the month. Snitker noted that most September closings were for homes that went under contract in August, when rates were around 6.7%, so those transactions did not yet reflect the full effect of September’s increase.
Freddie Mac reported that the average 30-year fixed rate was 7.18% on November 5, down from 7.24% the previous week and marking a third consecutive weekly decline. It remained above the 6.22% rate recorded a year earlier. Real estate agent Jared Reimer told the Post that the effect of rates above 7% could take another eight to 10 weeks to be fully felt.
Prices Have Held Up Better Than Sales
October’s median prices were little changed compared with a year earlier. The metro Denver single-family median sales price rose 1.57% from September to $645,000, but was down 0.64% year over year. The condo and townhome median rose 2.74% to $375,000, while remaining 3.25% below its year-ago level. Single-family buyers paid 98.5% of list price on average; condo and townhome buyers paid 97.7%…