In the wake of the pandemic, the Denver metro real estate market has seen its fair share of ups and downs. From bidding wars to lightning-fast sales, the past few years have been nothing short of extraordinary. But, real estate experts agree that 2021 and 2022 are considered “unicorn years” – that is, not the norm – and, as we move forward, it’s time to take a closer look at the bigger picture and separate fact from fiction.

While it may seem like the market may be cooling off compared to the frenzy of these unicorn years, the truth is far from it. In fact, the real estate market is simply normalizing, returning to a healthier equilibrium.

When we look at the bigger picture, the data tells the real story. Compared to pre-pandemic times, the market is exhibiting a more balanced and sustainable environment for buyers and sellers. Inventory levels, a key indicator of market health, remain relatively low, with just 2.6 months of inventory being reported in May 2024, which tracks with pre-pandemic statistics of 2.1 months of supply in May 2019.

Likewise, active listings are another great place to look. May 2021 – a unicorn year – had 8,100 active listings, but 2019 and 2024 of the same month had 11,999 and 13,978 respectively.

The median number of days on market is another key indicator. May 2019 had 12 median days on market, which is comparable to May 2024 at 15 days on market.

So, remember that it’s all about perspective. The post-unicorn era may not be as flashy, but it’s a return to stability and sustainability. By managing expectations and focusing on the long-term trends, you can navigate the real estate landscape with confidence and clarity.