When looking at the March housing data for the South Metro Denver REALTOR Association (SMDRA) region, one number doesn’t tell the whole story. To understand where we are, we have to look through two different lenses:

🟢 The Momentum Lens (Slide 1): Looking at Year-over-Year change, we see a slight -1.0% dip from 2025. After the steady recovery seen in ’24 and ’25, the market is currently taking a breather as it searches for a spring equilibrium.
🔵 The Benchmark Lens (Slide 2): When we zoom out and compare today to the 2022 market peak, we are down only -2.2% overall. Considering the interest rate environment we’ve navigated since then, this highlights the incredible underlying equity and resilience of the Denver metro market.

The Bottom Line: We aren’t in a “freefall”—we are in a period of high-level stability. For sellers, it means pricing accurately is non-negotiable. For buyers, it means the “insane” appreciation of the past has leveled off, offering a more predictable entry point.