Source: ResiClub / Zillow Home Value Index (ZHVI), seasonally adjusted, March 2026
Denver home prices are down 3.1 percent year-over-year, according to Zillow’s Home Value Index through March 31, 2026. The chart puts that number in context. Prices peaked at 19 percent annual growth in early 2022, corrected through 2023, recovered briefly into 2024, and have now drifted back into negative territory. Sixteen years of Denver appreciation on a single canvas — and the takeaway is that today’s small declines look a lot less like a crisis and a lot more like a return to long-run normal.
Source: ResiClub / Zillow Home Value Index, March 2026
Market Signal
The on-the-ground picture in April was steadier than that headline suggests. Per DMAR’s April 2026 report, the median close price landed at $605,000 — a hair off April 2025 ($604,000) and April 2024 ($602,000). That’s three Aprils on a near-flat line. The average close price held at $724,057, the close-to-list ratio came in at 99.44 percent, and homes went under contract in a median of 14 days. Buyers showed up. They just did not overpay to do it.
Why It Matters
Zillow’s index reflects broader appreciation across all Denver homes; DMAR reflects what actually sold. The gap between the two is the lesson. Active listings climbed more than 17 percent from March, which means real choice for buyers — especially in the attached and condo segment, where inventory keeps stacking up. For sellers, pricing correctly on day one still beats every other strategy. Well-priced homes are moving in two weeks. Mispriced homes are sitting.
What to Watch
DMAR flagged a widening split between detached and attached. Detached homes continue to find buyers; attached and condo inventory keeps building, with some luxury attached segments now north of five months of supply. If you own attached product, that gap matters. If you’re a buyer in that lane, leverage is real.
Reader Question
If Denver’s transactional prices have barely moved in three years, what would actually move you to make a change this year — the home, the rate, or just the math?
About the Brief
Mile High Housing Brief is a short monthly snapshot of what’s happening in the Denver housing market — and what it could mean for buyers and homeowners. Published by Neil Christiansen, Certified Mortgage Advisor.
