Real Estate Landscape Shifting in Western Colorado’s Mountain Towns
As the real estate landscape in several mountain towns across Western Colorado begins to shift, a significant increase in home listings is evident. Popular real estate platforms, such as Zillow and Redfin, are flooded with new listings, providing potential buyers with more options at competitive prices—the likes of which have not been seen since before the pandemic struck.
Dana Cottrell, a Realtor with Summit Resort Group and president of the Colorado Association of Realtors, noted, “The number of homes we have right now on the market is definitely up—way up compared to what we’ve seen in the last couple of years. This is not exclusive to Summit County; it’s happening across various regions.”
As a result, properties in some areas are remaining on the market for extended periods, encouraging buyers to take their time exploring different options. Although many real estate professionals believe that a full buyer’s market hasn’t been established, some regions are approaching that tipping point. “Days on the market are increasing, resulting in more seller concessions and price decreases,” said Cottrell. “At least half of the new listings daily reflect price reductions.”
Seasonal Surge Mimics Pre-COVID Trends
Typically, mountain towns experience an uptick in listings during spring, spurred by the conclusion of the ski season and the arrival of summer tourism. This recent surge could hint at a return to pre-COVID market conditions. “Before the pandemic, listings were low as homes sold quickly, and now, they are steadily coming back,” Cottrell explained. The numbers are telling, with 1,119 active residential listings recorded in Summit County this May—an increase of approximately 68% from the 763 listings noted in May of the previous year.
Data from Altitude Realtors indicates that May 2019 saw only 1,077 listings, pointing towards a notable resurgence in inventory, though some areas have yet to reach those levels. For instance, Mark Lewis, a broker at Aspen Snowmass Sotheby’s International Realty, observed 70 single-family home listings between January and May 2025, up from just 47 during the same period in 2024, although condominiums and townhomes saw a drop of 30% in listings.
Who are the Sellers? Why Aren’t They Buying?
The increase in homes available does little to benefit the market if buyer interest remains stagnant. This year, sales of condos and homes across Summit and Lake counties have not increased at a comparable rate to new listings. Homes in Summit County that previously averaged 66 days on the market now sit for over 88 days before selling.
Cottrell remarked, “I’ve noticed many of the newly listed properties are accompanied by significant price drops. I recently reduced the asking price of a house by $250,000, and it only generated one showing.” Sold listings have fluctuated only slightly since October 2023. A balanced market is typically viewed as four to six months of inventory, and with Summit County nearing a six-month inventory, the conditions are almost ripe for a buyer’s market.
Potential sellers include individuals who initially purchased homes during the pandemic but are now seeking to cash in on their investments as they no longer find value in resort living. Families looking to downsize or move closer to loved ones are also part of this wave. “I currently have six or seven sellers motivated by family connections,” stated Jon Wade, owner of The Steamboat Group.
A Glimpse into Market Statistics
| Market Area | Active Listings (May 2025) | Active Listings (May 2024) |
|---|---|---|
| Summit County | 1,119 | 763 |
| Routt County | 381 | 270 |
The dynamics are complicated — while sellers feel emboldened, potential buyers are hesitant. The sentiment among realtors reflects uncertainty surrounding economic factors such as interest rates and government policies. As summer approaches, the real estate industry is watching closely to see if buyer engagement improves, as the hustle and bustle of mountain town summers typically drives demand.
“If we reach the end of summer without seeing significant buyer turnout, the market may land firmly in buyer territory,” Cottrell cautioned.
