“Be Realistic” Might Be the Theme of This Market

According to the DMAR Market Trends Report, October wrapped up with the median closed price at $595,000, a modest 1.45% increase from September. While prices held steady, closed sales dropped nearly 7%, signaling cooler buyer activity. Interestingly, pending sales edged up 1.11%, showing that motivated buyers are still out there, but they’re selective.

On paper, the Front Range shows just under four months of inventory, typically considered a balanced market. But that figure hides a deeper truth. Based on data from REcolorado MLS, between January 1 and November 5, 2025, 2,626 listings were withdrawn, meaning sellers voluntarily took their homes off the market. During that same time, a staggering 17,199 listings expired, never finding a buyer within their listing term.

When these unsold homes are factored into the overall inventory picture, it’s clear the market is far softer than “four months” suggests. Many homes simply aren’t selling, not because there are no buyers, but because seller expectations and buyer realities are misaligned.

Anecdotally, we’ve seen sellers lose buyers over aggressive counter offers, they’re essentially buying their own home back. Others dig in their heels on inspection issues, refusing to make reasonable repairs, and end up watching the deal fall apart only to end up making the repair for the next buyer that contracts at a lower price. Meanwhile, well-priced and well-prepared homes are selling, keeping the median price stable and giving the illusion of a stronger market than most sellers are experiencing.

If you’re selling, be realistic early. The first two weeks on market generate the most attention, that’s the window to make a price adjustment, not months later after showings have slowed. Price competitively from the start, ensure the home shows beautifully, and stay flexible on negotiations. It’s time to trade in pricing fantasies for market realities, the buyers have already read the script.

Buyers, you have more options now, and some negotiating room. But don’t expect “fire sale” prices, most listings aren’t drastically overpriced. If you walk into a home and think, “This is the best one we’ve seen,” chances are someone else feels the same way. Be decisive and realistic in your offers, the good ones still move quickly.

Some of the sellers who withdrew or saw their listings expire are saying they’ll “try again in the spring.” That’s not unusual, traditionally. Buyer activity increases between February and April, and monthly closings tend to rise through mid-summer before slowing again from July through January.

However, given that more than 20,000 homes were either withdrawn or expired in the first ten months of 2025, it’s fair to wonder: will inventory levels in spring 2026 be substantially higher than normal? Time will tell. That’s one of the things that keeps real estate interesting—no one has a crystal ball, and we can only speculate.

We’ll know soon enough. Until then, Happy Holidays!

Eric Romero