Real Estate Trends in Western Colorado Mountain Towns
In recent weeks, several mountain towns in Western Colorado have witnessed a significant rise in the number of homes listed for sale, prompting discussions among real estate professionals about the future of the market. As platforms like Zillow and Redfin show an uptick in available properties, potential buyers are left to ponder whether the increased inventory will lead to a shift in buying habits.
“We are certainly experiencing a notable increase in the number of homes on the market compared to the last couple of years,” stated Dana Cottrell, a Realtor with Summit Resort Group and president of the Colorado Association of Realtors. “This trend is not limited to Summit County; similar patterns are emerging throughout the region.”
Longer Waiting Times and Price Adjustments
The growing inventory has led to homes staying on the market longer as buyers take the opportunity to explore their options. Many real estate agents agree that, although not fully in a buyer’s market, the Western Slope is approaching that balance.
“I’ve noticed homes are taking a bit longer to sell, and we’re seeing more price reductions and seller concessions,” Cottrell added. “Every day, I notice that at least half of the new listings come with a price drop.”
A Spring Surge Reflecting Pre-COVID Levels
Typically, mountain towns experience an influx of new listings as the ski season wraps up and summer tourism approaches. Cottrell points out that this recent surge represents a return closer to pre-COVID conditions. “Before the pandemic, listings were relatively low, but now they are starting to rebound,” she explained. In May, Summit County had 1,119 active residential listings, up around 68% from the same month last year when there were only 763 listings.
| Year | Active Listings in May |
|---|---|
| 2019 | 1,077 |
| 2024 | 763 |
| 2025 | 1,119 |
However, not all parts of the Western Slope have returned to pre-pandemic levels, with some local areas still experiencing lower-than-usual listings. For instance, Mark Lewis, a broker at Aspen Snowmass Sotheby’s International Realty, reported a modest increase in single-family home listings but noted a decrease in condominiums.
The Shift in Buyer Behavior
Despite the increased availability of homes, actual sales figures have not reflected this growth. According to Cottrell, properties that previously sold within an average of 66 days are now taking over 88 days to sell. “New listings are frequently accompanied by price reductions, but we’re not seeing the buyer interest we need,” she commented.
In Summit County, listings have plateaued since late 2023, raising questions about buyer behavior in light of economic uncertainties and fluctuating interest rates. “We have listings available, but we’re still wondering, ‘Where have all the buyers gone?’” Cottrell remarked. “This means we’re nearing a potential buyer’s market.”
The Luxury Market Remains Strong
While the general market is showing signs of hesitance, the luxury home segment has defied this trend. This year, regional luxury sales have exceeded previous years’ records, with high-value transactions demonstrating buyer confidence. “In Summit County, there has been a remarkable 76% increase in sales for homes priced between $5 million and $10 million,” Cottrell noted.
The upcoming months will be critical to determine whether buyers will re-enter the market, especially as July and August historically draw increased traffic to these mountain towns. “We’ll be watching closely; if this summer doesn’t attract buyers, we may officially see a shift into a buyer’s market,” Cottrell warned.
