Housing Report: Colorado housing market sees more listings, slower sales

After a winter that saw historic high temperatures and a notable absence of snowpack across Colorado, homebuyer engagement is heating up.

But the urgency of previous years has been replaced by a negotiation-heavy environment. While pending contracts are climbing, affordability sensitivity and broader economic uncertainty are keeping the pace measured, according to the Colorado Association of Realtors‘ February Market Trends Housing Report.

In the seven-county Denver metro area, the data indicate a market recalibration. New listings rose 4.6% year over year to 6,195, but the real story is in pending contracts, which jumped 15.7% to 4,672.

Despite the spike in activity, closed sales dipped 2.3%, suggesting that while buyers are out in force, reaching the finish line requires more back-and-forth than before.

“Buyers were more active throughout February but remain selective and highly payment sensitive, stepping in where value, condition and terms align,” said Denver-based real estate broker Cooper Thayer of The Thayer Group.

The median sales price for the metro region was $565,000, a 2.6% dip from February 2025. Homes are lingering longer on the market, averaging 66 days, with sellers receiving 98.6% of their list price.

Statewide trends: A balanced rebound

The statewide narrative mirrors the metro area. New listings rose 5.6% to 10,167, and pending contracts increased 12%. But the average time on market jumped 9.6% to 80 days, signaling that buyers are taking their time to evaluate options.

Across the state, the median sale price declined 1.8% from last year.
While the single-family market maintains steady momentum, condos and townhomes face stiffer headwinds. In many regions, rising HOA fees — driven by increased insurance premiums — have cooled demand for multifamily units, leading to modest price declines and longer selling times.

Regional highlights:

• Boulder and Broomfield: The market is gaining momentum, particularly for homes priced below $800,000 in Boulder and $675,000 in Broomfield. These price points are still seeing occasional multiple offers.
• Colorado Springs: Sales surged 21.4% month-over-month, but inventory grew 12.1% year-over-year. Buyers have more choices, though economic concerns regarding the job market and household debt remain a backdrop for caution.
• Mountain markets: In Evergreen and the foothills, activity is high, but closings are slow. In Grand County, values have softened slightly, giving buyers more negotiating power. Conversely, Durango saw a 37% jump in median price, largely because of a surge in high-end sales.

The spring outlook

As Colorado enters the March-April window, the market hinges on two factors: seller confidence and buyer affordability. With mortgage rates hovering above 6% and global tensions impacting energy prices, the wait-and-see approach remains prevalent.

“March will be our first big test,” said Jared Reimer, a real estate agent with The Craft Broker. “Sellers must present well and price aggressively or risk lingering on the market. It’s a market that nobody seems to be comfortable with.”