The number of homes for sale in the metro Denver area market continued to increase in April, while the number of active listings at the end of the month soared more than 70% compared to a year ago.

That’s according to the April Denver Metro Association of Realtors Market Trends report, which covers the 11-county area.

The number of new listings stood at 7,062 in April, up 10.78% from March and 18.13% year-over-year. Active listings at the end of April, meanwhile, grew to 11,964 — a whopping 71.15% increase from the 6,990 active listings at the end of April 2024.

But DMAR officials described Denver’s home sales market as “moving forward with cautious momentum, driven more by life changes than by speculation or urgency,” according to a news release.

“As inventory grows and buyers become more selective, today’s market demands a more intentional approach from sellers,” said Realtor Amanda Snitker, chair of the DMAR Market Trends Committee, in the release. “Listings must now earn buyer attention through thoughtful preparation, realistic pricing, and compelling presentation. Sellers should be advised that the market is competitive, and buyers are weighing their options carefully.”

Sales prices grew modestly, with the average sales price reaching $722,790, up 3.56% from March and down less than a percentage point from April 2024. Median closed price reached $607,000, up 1.51% month-over-month and .83% year-over-year.

“The big question asks: Was April’s drop in pending homes a temporary blip or an early peak in the spring selling season?” said Realtor Nick DiPasquale, DMAR Market Trends Committee member, in the release. “We’ve tried to analyze the market from every angle, by ZIP code, property type, and price point, but the answers remain elusive. Conversations broker to broker reveal vastly different experiences across the board, making it difficult to pin down a single narrative.”

The amount of time it took to sell a metro Denver area home dropped in April, 37 days on average from March’s 47-day average. It was up, however, from April 2024’s 30-day average.

The sales volume rose just over 8%, from $2.59 billion in March to $2.81 billion in April. The number of closings rose to 3,883 in April, up slightly from the 3,711 in March but down 2.9% year-over-year.

Said DiPasquale: “Buyers, meanwhile, are showing increased discernment. Some homes continue to attract multiple offers, while others sit with little-to-no activity. There’s no one-size-fits-all assessment of the market, and that’s OK.”