Although new listings dropped in June, active listings statewide increased 23% over a year ago, pushing available homes to a 4.7 months’ supply, the highest level since 2013.
But so far, that’s not leading to a true buyers’ market.
Cooper Thayer, a broker associate with the Thayer Group in Castle Rock, said homes staying on the market longer are causing a “pile-up” effect.
“Even as negotiating leverage continues to lean in the favor of homebuyers, many sellers have yet to adjust their strategy to current market conditions,” he said.
“New listings, however, haven’t been the primary driver behind the spike in inventory. Rather, it’s the slower pace of those listings finding buyers that has caused the ‘pile-up’ effect in the market.”
Despite high inventory, home prices still increased about 1% from May to a median price of $597,500 statewide, according to the Colorado Association of Realtors’ monthly market trends housing report.
That’s leading to conflict between sellers who are unwilling to lower prices and demanding buyers.
“Many current sellers are homeowners who may want to move but don’t necessarily need to. With substantial equity, low interest rates locked in, and little financial pressure, these sellers are holding onto price expectations that may be unrealistic,” said Kelly Moye of Compass.
“Buyers, on the other hand, are seeing more inventory than they’ve had in over a decade—and they’re being ultra picky. With hopes for lower interest rates and new, more appealing listings popping up each day, many are choosing to wait, creating a slow, cautious environment on both sides of the transaction.”
The Routt County real estate market has shifted, but ideal properties still sell quickly.
“In 2019 it was a more ‘normal’ market with more inventory, average days on market was longer and there were price and inspection negotiations. The major difference now is that prices are higher,” said Marci Valicenti with The Group.
“There are still properties that go quick and buyers that know a cream puff when they see one are moving fast. Multiple offers happen, but they are fewer in number, as well as fewer over asking price.”
While the market may feel intimidating, potential buyers and sellers shouldn’t be fearful, Thayer said.
“If buying or selling a home makes sense for you personally in 2025, there are still absolutely plentiful opportunities available,” he said.
“With 4.4 months’ supply of inventory on the market, buyers have the gift of options and the ability to negotiate a deal that works best for them. For sellers, there will always be a great demand for homes in the Denver-metro area, and the perfect buyer for your home is out there.”
The news and editorial staffs of The Denver Post had no role in this post’s preparation.
