Colorado’s housing market continues to offer buyers more choices and negotiating power despite continued high interest rates.
According to the latest report from the Colorado Association of Realtors, September statistics show a decrease in listings but an increase in buyer leverage, marking one of the best environments for homebuying in years.
As the housing market rebalances, potential buyers can capitalize on favorable conditions, even as median prices remain relatively stable.
“Buyers, sellers, and real estate professionals are confronting a hard reality that has been months in the making, and September made it clear: it is not a great time to sell a home. Still, there is a bright side,” said Denver-Douglas County-area realtor Cooper Thayer.
“When selling gets tougher, buying gets better, and today’s market gives buyers more leverage and choice, even with higher rates. By most metrics, this is the strongest buyer footing in years, and by some measures in decades, with more time to decide, more options to choose from, and more room to negotiate. The bottom line: this is a rebalancing, not a breakdown.”
September’s data showed a decrease in active, sold, pending, and under contract listings compared to August.
However, all those categories remain up from the same time last year. Inventory statewide is up 8%, sold listings are up 8%, and average days on market are up 18%.
Median pricing largely held steady and is up .5% from a year ago.
Community roundup
- Aurora: Increased momentum with declining inventory, rising prices, and faster sales. Pending sales up 11%; median prices are $566,000 (Arapahoe) and $515,000 (Adams).
- Boulder and Broomfield counties: Shifting to a buyer’s market; inventory up over 10%. Prices up 2% but concessions show declines, especially condos (-11%). Homes are taking longer to sell.
- Colorado Springs: Stable market with flat prices and unpredictable transactions. More listings and sales give buyers increased options.
- Denver metro: Clear shift favoring buyers, with homes selling for less than list price and growing inventory, especially for condos (down 2.4%).
- Fort Collins: Balanced market; well-priced homes sell quickly, while others don’t. Listings up 12% and sales up 13.5% year-over-year, with cautious buyers.
“The real estate tides have turned in Boulder and Broomfield counties, and buyers are loving it,” said Kelly Moye of Compass.
Even with increased inventory, economic and political uncertainty, along with higher mortgage interest rates, are keeping many potential buyers on the sidelines.
Sellers with built-up equity from the past five years are reluctant to give up ultra-low interest rates. This ongoing struggle is slowing the housing market as winter approaches.
“The September housing market in Fort Collins sputtered along as balanced markets are wont to do,” said Chris Hardy with Elevations Real Estate in Fort Collins.
Some well-priced, well-maintained homes go under contract in just days, often with multiple offers, Hardy said. However, other homes linger on the market due to factors such as pricing, competition from new construction, neighborhood appeal, and, most importantly, condition.
The news and editorial staffs of The Denver Post had no role in this post’s preparation.
