Sales up, buyers cautious

Colorado's housing market showed modest signs of stabilization in March, but buyers remain cautious amid high mortgage rates and global economic uncertainty, according to the Colorado Association of Realtors' latest Market Trends Housing Report.

The state recorded 12,803 new listings and 9,541 pending sales in March, a 7% increase over the same month last year. Closed sales reached 7,463, up approximately 3% year over year. However, the statewide median sale price dipped slightly to $545,000, down about 1% from March 2025, suggesting pricing power is softening even as activity picks up.

Active inventory stands at 25,367 listings, with the average home spending 70 days on market — up from 66 days a year ago. Despite the inventory growth, months of supply remained at 3.5, still favoring sellers, though the market is slowly drifting toward balance.

"Day-to-day activity may feel busy, but that is likely because the year started off very slow," said Kelly Moye, a Boulder-area realtor. "Overall, this spring market is still behind where it usually is and has a long way to go."

The attached-home segment — condos and townhomes — continues to face the most significant challenges. Average days on market for attached homes rose more than 15% to 76 days, with five months of supply making it a buyer-friendly segment. High HOA fees, driven largely by rising insurance costs, continue to deter buyers across multiple markets.

Regional disparities are sharp: Durango saw a 35% rise in March sales, while inventory in Aurora and Centennial dropped by up to 45% in some zip codes, with prices softening 1% to 8%.

"This year is going to be touch and go," said Patrick Muldoon, a Colorado Springs-area realtor. "I believe the spring rush is short-lived and a year of grinding is in front of us."

**What This Means For You:** If you're a buyer, you have slightly more leverage than last year — especially for condos and townhomes. But don't expect a fire sale. Sellers still hold the edge in single-family homes, and mortgage rate volatility tied to geopolitical events means timing the market remains risky. The smart play: get pre-approved, watch rates daily, and be ready to move quickly on well-priced listings.