- Denver metro median home price (Nov 2025): $584,000 — up 1% year-over-year
- Cherry Hills Village median: $3,024,000 | Greenwood Village: $1,150,000 | Centennial: $625,000
- Active listings: 10,199 (up 14% YoY) — most inventory since 2019
- Median days on market: 35 days (detached) — up from 29 days in 2024
- 30-year mortgage rate: ~6.7% (Feb 2026) | Forecast: 6.2–6.8% through 2026
- 2026 outlook: Modest 1–3% price appreciation, balanced market favoring buyers
Last updated: February 2026 | Data sources: RE Colorado, U.S. Census Bureau, Freddie Mac, NeighborhoodScout, Zumper, Colorado Association of REALTORS®
1. Executive Summary
The South Denver real estate market enters 2026 in a state of measured normalization. After years of frenzied bidding wars and double-digit appreciation, the market has shifted toward balance — offering buyers more inventory and negotiating power while sellers still benefit from historically strong home values. The Denver metro median home price reached $584,000 in November 2025, representing a modest 1% year-over-year increase, a far cry from the 15–20% annual jumps seen during 2020–2022.
Inventory is the biggest story of this cycle. Active listings across the Denver metro surged to 10,199 in November 2025 — up 14% year-over-year and more than four times the pandemic-era low of 2,423 in November 2021. Homes are sitting longer too, with the median days on market for detached homes climbing to 35 days, compared to just 5 days during the 2021 frenzy. This expanded supply, combined with mortgage rates hovering near 6.7%, has fundamentally changed the dynamics for buyers and sellers in communities like Cherry Hills Village, Greenwood Village, Centennial, Englewood, and Castle Pines.
Looking ahead, experts forecast continued modest appreciation of 1–3% annually through 2026, with no crash on the horizon. Denver’s strong job market, continued in-migration from higher-cost states, and limited new construction in premium South Denver communities provide a floor for home values. The market rewards patience and preparation — whether you’re buying your first home in Centennial or upgrading to a luxury estate in Cherry Hills Village.
2. Market Overview — Median Home Prices by Area
South Denver encompasses some of Colorado’s most prestigious independent cities and Denver neighborhoods, each with distinct price profiles. The table below reflects current market conditions based on RE Colorado, NeighborhoodScout, and MLS data through Q4 2025.
| City / Neighborhood | Median Home Price | YoY Change | Price per Sq Ft | Type |
|---|---|---|---|---|
| Cherry Hills Village | $3,024,000 | +2.8% | $485 | Independent City |
| Cherry Creek | $1,350,000 | +3.1% | $520 | Denver Neighborhood |
| Greenwood Village | $1,150,000 | +2.4% | $365 | Independent City |
| Castle Pines | $875,000 | +3.5% | $280 | Independent City |
| Washington Park | $850,000 | +1.8% | $435 | Denver Neighborhood |
| Centennial | $625,000 | +1.5% | $275 | Independent City |
| Platt Park | $615,000 | +2.0% | $390 | Denver Neighborhood |
| Englewood | $520,000 | +1.2% | $310 | Independent City |
| Denver Metro (Overall) | $584,000 | +1.0% | $305 | Metro Area |
Key takeaway: Cherry Hills Village remains the most expensive community in the South Denver corridor at over $3 million median, while Englewood offers the most accessible entry point at $520,000. Cherry Creek commands the highest price per square foot ($520/sqft) due to its walkable urban character and premium amenities. For a deeper comparison, see our South Denver Home Prices breakdown.
3. Inventory & Sales Volume
The inventory story is central to understanding the 2026 market. After years of severe undersupply, the Denver metro has experienced a meaningful inventory rebuild.
| Metric | Nov 2021 | Nov 2023 | Nov 2024 | Nov 2025 | YoY Change |
|---|---|---|---|---|---|
| Active Listings | 2,423 | 6,393 | 8,972 | 10,199 | +14% |
| Closed Listings | 5,268 | 2,777 | 3,081 | 2,749 | -11% |
| New Listings | 3,753 | 2,717 | 2,745 | 2,618 | -5% |
| Median Days on Market (Detached) | 5 | 28 | 29 | 35 | +6 days |
| Median Days on Market (Attached) | 6 | 32 | 38 | 38 | 0 days |
| Gross Sales Volume | $3.31B | $1.82B | $2.12B | $1.93B | -9% |
| Months of Supply (Est.) | 0.5 | 2.3 | 2.9 | 3.7 | +0.8 mo |
What this means: With approximately 3.7 months of supply, the Denver metro is approaching a balanced market (typically defined as 4–6 months). Luxury segments in Cherry Hills Village and Greenwood Village tend to have higher months of supply (5–8 months) due to smaller buyer pools, while entry-level homes in Centennial and Englewood move faster. The “lock-in effect” — homeowners reluctant to sell and give up sub-4% mortgage rates — continues to constrain new listings.
4. Buyer Demographics
Who’s buying in South Denver? The buyer profile has shifted meaningfully since the pandemic:
| Demographic | Details |
|---|---|
| Largest buyer age group | Millennials (ages 28–43) — 38% of purchases |
| Median buyer household income | $142,000 (Denver metro); $225,000+ (Cherry Hills Village, Greenwood Village) |
| Top relocation origins | California (24%), Texas (14%), Illinois (8%), New York (7%), Florida (5%) |
| Remote worker buyers | ~22% of South Denver buyers cite remote work flexibility as primary motivation |
| First-time buyer share | 26% (below national average of 32%, reflecting affordability challenges) |
| Cash buyers | 19% of transactions (up from 15% in 2023); higher in luxury segments (35%+) |
California transplants remain the dominant out-of-state buyer group, drawn by Denver’s relative affordability compared to the Bay Area and LA, strong tech job market, and outdoor lifestyle. South Denver’s top-rated school districts — particularly Cherry Creek Schools and Littleton Public Schools — are a major draw for families relocating from out of state. See our guide to best schools in South Denver.
5. Mortgage & Affordability
Mortgage rates remain the single biggest factor shaping buyer behavior in 2026. After peaking near 7.8% in late 2023, the 30-year fixed rate has moderated but remains elevated by recent historical standards.
| Rate Type | Current Rate (Feb 2026) | One Year Ago |
|---|---|---|
| 30-Year Fixed | 6.72% | 6.85% |
| 15-Year Fixed | 5.92% | 6.12% |
| 5/1 ARM | 6.15% | 6.38% |
Monthly Payment Estimates (20% Down, 30-Year Fixed at 6.72%)
| Home Price | Down Payment | Loan Amount | Monthly P&I | Est. Total Payment* |
|---|---|---|---|---|
| $520,000 (Englewood) | $104,000 | $416,000 | $2,698 | $3,480 |
| $625,000 (Centennial) | $125,000 | $500,000 | $3,243 | $4,180 |
| $875,000 (Castle Pines) | $175,000 | $700,000 | $4,540 | $5,850 |
| $1,150,000 (Greenwood Village) | $230,000 | $920,000 | $5,966 | $7,690 |
| $3,024,000 (Cherry Hills Village) | $604,800 | $2,419,200 | $15,690 | $20,230 |
*Estimated total includes property taxes, insurance, and HOA where applicable. Actual costs vary by community. See our Cost of Living in South Denver guide and Property Tax comparison for detailed breakdowns.
6. Rental Market
Denver’s rental market has stabilized after significant post-pandemic volatility. New apartment supply — particularly in the Denver Tech Center and along the I-25 corridor — has helped ease rental pressures.
| Area | Avg. 1-BR Rent | Avg. 2-BR Rent | YoY Change | Vacancy Rate |
|---|---|---|---|---|
| Cherry Creek | $2,150 | $3,100 | +2.4% | 5.8% |
| Greenwood Village | $1,850 | $2,600 | +1.8% | 6.2% |
| Centennial | $1,650 | $2,200 | +1.2% | 5.5% |
| Englewood | $1,450 | $1,900 | +0.8% | 6.8% |
| Denver Metro (Overall) | $1,580 | $2,050 | +1.5% | 6.4% |
Vacancy rates across the metro have climbed to 6.4%, up from 4.8% in 2023, driven by a wave of new multifamily completions. This has moderated rent growth significantly — good news for renters, though landlords are feeling the squeeze. For renters exploring South Denver options, see our Cherry Creek Apartments guide.
7. New Construction & Development
New construction activity in South Denver has been uneven, with significant multifamily development along transit corridors but limited single-family construction in established luxury communities.
Major Projects & Developments (2025–2027)
- CityCenter Englewood Expansion: Mixed-use redevelopment adding 350+ residential units and 80,000 sqft of commercial space at the former Cinderella City site along the light rail corridor.
- The Jones District (Centennial): Continued build-out of this 73-acre mixed-use development near I-25 and Dry Creek, adding apartments, retail, and office space.
- Denver Tech Center Infill: Multiple projects adding 1,200+ apartment units in Greenwood Village and the DTC area through 2027.
- Castle Pines Town Center: Ongoing development bringing new retail, dining, and community amenities to Castle Pines.
- Belleview Station: Transit-oriented development adding mixed-use towers near the Belleview light rail station in the Denver Tech Center corridor.
- Custom Luxury Homes: Cherry Hills Village and Greenwood Village continue to see teardown/rebuild activity, with custom builders replacing mid-century homes with modern estates valued at $4M–$10M+.
Building permits: Arapahoe County issued approximately 2,800 residential building permits in 2025, down 8% from 2024, reflecting higher construction costs and tighter lending standards for developers. Douglas County permits remained steady at ~1,900.
8. Neighborhood Spotlight Rankings
How do South Denver’s communities stack up against each other? We ranked the top areas across five key metrics for homebuyers.
| City / Neighborhood | Median Price | 5-Yr Growth | School Rating | Walkability | Overall Score |
|---|---|---|---|---|---|
| Cherry Creek | $1.35M | 32% | ⭐ 9/10 | 🚶 92/100 | 9.2 |
| Cherry Hills Village | $3.02M | 38% | ⭐ 10/10 | 🚶 18/100 | 8.8 |
| Washington Park | $850K | 28% | ⭐ 8/10 | 🚶 85/100 | 8.7 |
| Greenwood Village | $1.15M | 30% | ⭐ 9/10 | 🚶 35/100 | 8.5 |
| Castle Pines | $875K | 35% | ⭐ 9/10 | 🚶 12/100 | 8.2 |
| Platt Park | $615K | 25% | ⭐ 7/10 | 🚶 88/100 | 8.0 |
| Centennial | $625K | 24% | ⭐ 8/10 | 🚶 30/100 | 7.8 |
| Englewood | $520K | 22% | ⭐ 7/10 | 🚶 62/100 | 7.5 |
Overall Score is a weighted composite of value, growth potential, school quality, walkability, and lifestyle amenities. Rankings reflect data available as of Q4 2025. For neighborhood deep-dives, visit our Neighborhoods guide or compare South Denver vs North Denver.
9. 2026 Forecast
Based on current trends, economic indicators, and expert analysis, here’s what to expect for South Denver real estate through the remainder of 2026:
Price Outlook: Modest Growth of 1–3%
The era of double-digit annual appreciation is over. Expect the Denver metro median to reach approximately $595,000–$605,000 by year-end 2026. Luxury markets (Cherry Hills Village, Cherry Creek) may slightly outperform due to limited supply and high-income buyer demand. Entry-level markets face more headwinds from affordability constraints.
Inventory: Continued Build
Active listings should continue climbing into spring 2026, potentially reaching 12,000–14,000 by summer peak — the highest level since 2018–2019. The mortgage rate “lock-in effect” will gradually ease as more homeowners accept current rates as the new normal.
Interest Rates: Range-Bound
Most economists forecast 30-year fixed rates between 6.2% and 6.8% through 2026, with potential for modest declines in the second half if inflation continues moderating. A return to sub-5% rates is not expected before 2028 at earliest.
Market Balance
South Denver will operate as a balanced-to-slightly-buyer-favoring market in most segments. Sellers should price accurately from day one; overpriced homes will sit. Buyers will have room to negotiate inspections, closing costs, and price reductions — a significant shift from the pandemic era.
Crash Risk: Very Low
A market crash is highly unlikely given Denver’s strong employment base, continued population growth, substantial homeowner equity (average equity exceeding $200,000), and disciplined lending standards. The correction is happening through time (stagnant prices adjusting to inflation) rather than through dramatic price declines.
For those considering a move, our retiring in South Denver guide covers lifestyle considerations, while our Cherry Creek shopping & dining guide showcases why South Denver remains one of Colorado’s most desirable corridors.
10. Methodology & Data Sources
This report compiles data from the following sources to provide a comprehensive view of the South Denver real estate market:
- RE Colorado Market Watch Reports (November 2025) — Primary source for metro-wide sales data, active listings, closed listings, days on market, and median prices. RE Colorado is the MLS serving the Denver metro area.
- NeighborhoodScout — Community-level median home values, appreciation rates, and demographic data for Cherry Hills Village, Greenwood Village, Centennial, Englewood, and Castle Pines.
- Freddie Mac Primary Mortgage Market Survey® — 30-year and 15-year fixed mortgage rate data, published weekly.
- U.S. Census Bureau / American Community Survey — Population, household income, migration, and demographic data for the Denver-Aurora-Lakewood MSA.
- Colorado Association of REALTORS® — Supplementary market statistics and trend analysis.
- Zumper National Rent Report — Rental market pricing and trends for the Denver metro area.
- Arapahoe County & Douglas County Building Departments — Residential building permit data.
- Walk Score® — Walkability ratings for individual neighborhoods and communities.
Note: Median prices for individual South Denver communities are based on MLS data, NeighborhoodScout valuations, and publicly recorded sales. Year-over-year changes reflect the most recent 12-month period for which data is available (typically Q3–Q4 2025). Some figures are estimates based on available data and may differ from other published sources due to methodology differences. This report is updated periodically as new data becomes available.
Have questions about this data? Contact us or explore our About page to learn more about South Denver Guide.