If you’ve talked to anyone about real estate lately, you’ve probably heard some version of this:
“The market is terrible.”
But is it?
After more than 18 years selling real estate in Colorado, I’d describe our current market a little differently:
It’s not bad. It’s just different.
And different isn’t necessarily a bad thing.
For several years, we got used to a real estate market that was anything BUT normal. Homes selling in a weekend. Multiple offers. Buyers waiving inspections. Sellers receiving tens of thousands of dollars over asking price. Interest rates in the 2s and 3s.
That market was great for sellers—but it wasn’t exactly healthy or sustainable.
Today’s market requires a little more patience, strategy and realistic expectations from both buyers and sellers.
The Numbers Tell an Interesting Story
Take a look at some of our August numbers compared with last year:
Lafayette: Median price was $860,000, up 8.2%, while inventory dropped nearly 38%.
Erie: Median price was $741,000, up 4.3%, with inventory down 8.1%.
Broomfield: Median price was $660,000, up 1.5%, with days on market holding steady at 40 days.
Louisville & Superior: Median price was $973,500, basically flat from last year, but homes were selling 30.6% faster, with inventory down 39.1%.
Meanwhile, Boulder and Longmont saw median prices decline—2.5% in Boulder and 5.9% in Longmont.
In other words?
There isn't one “Colorado real estate market.”
What’s happening depends enormously on the city, neighborhood, price range—and even the individual house.
Sellers Can Still Sell. But Pricing Matters.
This is probably the biggest change from a few years ago.
During the frenzy, sellers could sometimes throw a house on the market, price it aggressively and wait for buyers to fight over it.
Today?
Not so much.
Buyers have more time to think. They're looking at comparable sales. They're paying attention to condition. And with today's mortgage rates, they're much more sensitive to price.
A home that is priced correctly, presented beautifully and marketed well can absolutely sell—and sometimes quickly.
But an overpriced home can sit. And sit. And sit some more.
Then comes the price reduction. Sometimes another one. Eventually buyers start wondering, “What’s wrong with it?” Often, nothing is wrong with it.
The price was simply wrong to begin with.
Buyers Actually Have Something They Haven’t Had in a While: Leverage
If you were trying to buy a home during the craziness of 2020–2022, you probably remember what that felt like.
See house.
Love house.
PANIC.
Write offer immediately.
Offer over asking.
Compete against 14 other people.
Cross fingers.
Cry.
Repeat.
😂
Today's buyer often has something much more valuable:
Time to make a thoughtful decision.
Depending on the property, buyers may also be able to negotiate on price, ask for inspection items, request seller concessions or negotiate an interest-rate buydown.
Yes, mortgage rates are higher than they were a few years ago.
But buyers aren't necessarily paying $75,000 over asking price and waiving every protection known to mankind just to get the house.
There are tradeoffs in every market.
So…Should You Buy or Sell Right Now?
That depends. And I know that's not the exciting answer. But it's the truthful one.
If you're a seller, we need to look at your specific neighborhood, your competition, your home's condition and your likely price range.
If you're a buyer, we need to look at your budget, monthly payment, how long you plan to own the home and what opportunities exist in the areas you're considering.
National headlines can't answer those questions. Honestly, neither can a broad “Denver market” statistic. Real estate is incredibly local. Sometimes it's incredibly house-specific.
Different Doesn't Mean Bad
I actually like parts of this market. Buyers can breathe. Inspections are back. Negotiations are back.
Sellers who prepare their homes well and price them correctly can still have successful sales. And we're getting back to a market where good strategy matters.
That's where an experienced Realtor earns their keep.
If you're wondering what your particular situation looks like—whether you're thinking about selling, buying, downsizing, moving across town or just wondering what the heck your house might be worth—I'm always happy to talk through the numbers with you.
No pressure. No sales pitch.
Just real estate advice from someone who's been doing this for a while.
Sally Heldman
Broker Owner
Metro Brokers / Heldman Real Estate
303.475.4508 CELL
sally@sallyheldman.com