Cheapest Homes for Sale in Denver Right Now

Housing prices in metro Denver are down from the stratospheric levels reached during the height of the pandemic, when buyers seemed willing to break the bank in order to avoid sharing an elevator with strangers. But that doesn't mean bargains are easy to find. The asking prices of the five least expensive detached homes for sale in the Mile High City today are in the same range as those available over the past few years.

In other words, not cheap — and buyer beware.

The December market trends report from the Denver Association of Realtors helps explain why. In November, the most recent period for which statistics are available, the average closing price for a detached home in Denver was $738,986, a dip of nearly $30,000 from October but more than $6,000 above the mark during the same month in 2022. Likewise, the median closing price of $625,000 represented a savings of $20,000 from the previous month, but was $10,000 higher than in November of the previous year.

A similar phenomenon can be found at the lower end of the price scale. In our January 2020 roundup of Denver's least expensive homes for sale, numerous properties were tagged at under $250,000. But the situation soon changed: In Westword's March 2021 survey, the cheapest abode was listed at $265,000 — and in a December 2021 sequel, the most affordable house was $290,000. The next April, only one house was on the block for under $300,000, and in August 2022, the five least expensive houses for sale in Denver ranged from $225,000 to $360,000.

And today? The two lowest-priced detached Denver houses on the Zillow website are going for $280,000, with three others at $310,000 or less. All are modest in size; the largest is just 793 square feet. Four of the five are in the same neighborhood, Westwood, with three on the same street, West Custer Place. The fifth, on Cherokee Street, is located in Globeville. And they're not exactly new builds. Most were erected in the 1930s or 1940s, with the Globeville house dating back to 1891.

Here are the five least expensive Denver homes for sale today, displayed in descending order, complete with links, details and text from the original listings:

5. 4335 West Custer Place (photo at the top of this post)
$310,00
Three bedrooms
1 bathroom
793 square feet
Built in 1936
21 days on Zillow

Check out the potential on this one! Located in desirable Irving Park, this house has a large lot and is zoned for the addition of an Additional Dwelling Unit! This could be a 4 bedroom. A great investment. Covered Patio and Charming. This property is being sold as is.
4. 3501 West Custer Place
$310,000
Two bedrooms
One bathroom
663 square feet
Built in 1935
21 days on Zillow

Great attractive property with rod iron gate. Lots of parking off street, covered parking as well as a garage. Really good investment property. Large wood deck and huge yard. Take a look!!!

3. 3450 West Dakota Avenue
$290,000
Two bedrooms
One bathroom
705 square feet
Built in 1948
159 days on Zillow

Great 2 bedroom/1 bath home located in the heart of Denver. This home features ALL new appliances, energy efficient tankless hot water heater, updated paint and flooring. THIS IS AFFORDABLE HOUSING. HOME IS NOT OPEN TO INVESTORS. Buyers must meet all qualifications and obtain a loan pre-approval with preferred program lender, Affordable Mortgage Solutions (AMS) a Habitat subsidiary....

2. 4427 Cherokee Street
$280,000
Two bedrooms
One bath
690 square feet
Built in 1891
96 days on Zillow

Price reduced! This home is waiting and ready for a first time home buyer or an investor. This 2 bedroom and one bath home needs TLC. Newer roof, stucco, close to downtown. Bring your offers, seller motivated.

1. 3486 W Custer Place
$280,000
Two bedrooms
One bath
629 square feet
Built in 1930
21 days on Zillow

What a gem! Darling home in Irving Park. Large lot with huge shed/garage and room for and zoned for an Additional Dwelling Unit!