If you’ve been keeping an eye on the housing market in Boulder or the greater Denver Metro area, you’ve probably noticed a shift. The frenzy of the past few years has cooled, and quite dramatically. Inventory is way up, buyers are more hesitant, and pricing, while generally stable, is showing early signs of softening. In short, this isn’t the same seller’s market we saw in 2021 to 2022. It’s a different kind of game now, and whether you're buying or selling, knowing the numbers is key. Let's take a look at what's going on.
Currently, there's a lot of inventory. In the Denver Metro area, active listings shot up to nearly 18,000 in May, up 25% from last year. June kept that momentum going, with over 9,600 detached homes on the market, up more than 34% year-over-year. Rocket Homes also reported nearly 6,000 homes for sale in Denver, the highest number since 2011. Boulder’s seeing a similar trend, just on a smaller scale, with listings climbing from about 1,040 in May to over 1,090 in June. So what does this mean? More inventory means more choices for buyers, but they’re not in a rush to purchase. Instead, they’re taking their time, shopping around, and being picky. In June, Denver homes sat on the market for an average of 33 days (up from 30 in May), and in Boulder, it was closer to 46 days. Redfin even reported that there were 4,800 more sellers than buyers in Denver this spring. That's the biggest gap they’ve ever recorded. So while some buyers are making offers, many are still just browsing and holding off on pulling the trigger.
What does this mean for home prices? Overall, things are holding steady, but there are signs of a slow down. In Denver, the median price hovered around $665K in June, just barely up from last year. Some sources show it even dipping a bit, with nearly half of homes now selling below asking. Boulder’s still priced on the higher end, with a median around $965K in June. That’s actually down 2 to 4% from last year, and about 70% of homes are also going for lower than asking price, especially in the luxury market. Basically, it’s a great time to be a buyer. Sellers are more open to negotiations, price cuts, and concessions, especially on homes that have been sitting on the market. With mortgage rates inching down toward 6.67%, locking something in now and refinancing later could be a smart move.
For sellers, the message is this: homes are still selling, but only if they’re priced right and show well. The days of instant offers are gone. Now it’s all about smart pricing, solid staging, and curb appeal. Most homes are taking on average about a month to sell, and price cuts are common when sellers overshoot. With 4 to 5 months of inventory, Boulder and Denver are moving toward a more balanced market, and that’s a good thing. It means steadier growth and less volatility. Looking ahead, the market should stay steady through 2025. A rate drop might bring more buyers back in, but another frenzy isn’t likely. For now, buyers have the edge, and sellers need to stay strategic.
In both Boulder and the Denver Metro, the market hasn’t stalled, it’s just slowed to a more steady pace. The chaos of bidding wars is behind us, and we’re seeing a healthier, more balanced market. Buyers have more breathing room, and sellers need to be strategic. The opportunities are still there, you just have to approach them with intention, not urgency.
