(The Center Square) – Colorado’s housing market remains stable, but is quickly becoming a buyer’s market as inventory increases.
Active listings of houses are reaching historically high levels, with Colorado being one of 12 states that is now above pre-COVID inventory levels.
In July, there were 43,047 homes for sale in Colorado, which is up 17% year over year from 2024.
Many of those homes have been on the market for a bit of time, as new listings actually dropped 3.2%. This is according to a July report from Redfin, a national real estate broker.
Currently there is a five-month supply of houses on the market. That is the highest supply in years, though the median days for a home to remain on the market is still just 39 days.
Colorado’s market is softening some, according to a July report from ResiClub, though housing prices continue to increase.
This means that there are more houses on the market than buyers.
“Over the past few years we’ve observed a softening across many housing markets as strained affordability tempers the fervor of a market that was unsustainably hot during the Pandemic Housing Boom,” ResiClub stated.
It added that it expects more markets to continue to soften.
Yet, more than halfway through 2025, housing prices in Colorado continue to increase despite that.
In July, home prices in Colorado were up 0.9% compared to last year. While prices were up, the overall market slowed slightly, with the average number of homes sold down just 1.4% year over year.
Colorado has one of the most expensive markets in the nation, with the median sale price for a home estimated at nearly $600,000.
In July, 18% of the homes sold for more than the listing price, and 40% of homes on the market saw a price drop. That is consistent with late summer trends of the past few years, when the housing market often sees a slump as compared to its peak in the spring.
