The numbers, straight
Colorado's median home price dropped 1.54% this past month, but it's still up 3% compared to a year ago. That contradiction is the whole story of this market right now: short-term softening layered on top of longer-term gains.
The split gets more interesting when you break it down by property type. Detached homes appreciated about 1.5% over the past year. Attached homes — condos, townhomes — actually declined roughly 2.5% over the same stretch. If you're comparing your neighbor's single-family home to your buddy's condo and wondering why the market "feels" different for each of you, that's why.
What "buyer's market" really means here
It doesn't mean prices are collapsing. It means homes are sitting on the market longer than they have at any point in the last decade. Buyers have room to negotiate, ask for concessions, and actually think before they write an offer — something that hasn't been true in Denver Metro for years.
What it takes to sell right now
I tell every seller the same thing: in this market, your home needs to check at least two of these three boxes to move at a strong price:
- Price — priced attractively relative to comparable homes, not aspirationally
- Location — close to the amenities buyers are actually prioritizing right now
- Condition — updated kitchen and bathrooms, clean landscaping, solid flooring, and exterior that doesn't need work
One of those alone usually isn't enough anymore. Two out of three is the bar.
Off the market for a second — the 1st Annual Park Party
Before I get back to spreadsheets: thank you to everyone who came out for our first annual Park Party. Over 100 families joined us for an afternoon of painting kindness rocks for the Be Like Ellie Foundation, live music from B.1.More, swimming, food, and yard games. We're already planning to make it bigger next August — better venue, more activities, the works. If you have a name idea for next year's event, send it my way.