The Colorado real estate market is brimming with potential for buyers and sellers alike—but how long can buyers expect properties to stay on the market? Understanding the average days on market (DOM) not only gives insight into the demand for homes but also helps sellers price their properties strategically and buyers plan their offers.
What’s Behind the Average Days on Market?
1. Demand from Professionals and Relocation Clients
The influx of professionals in Colorado’s thriving tech and startup industries has driven demand for homes. Likewise, relocating for high-quality schools and lifestyle changes have created additional competition in the housing market.
2. Home Features Buyers Expect
Buyers today aren’t just looking for any home—they’re often seeking luxury finishes, move-in-ready properties, and modern conveniences like smart thermostats or security systems.
3. Neighborhood Appeal
Neighborhoods close to parks, schools, and job hubs are in high demand. Properties in these areas typically sell quicker than average.
4. Pricing Strategy
Well-priced homes aligned with market trends attract more interest, resulting in quick sales. Overpricing can lead to extended DOM even in a competitive market.
What This Means for Buyers
If you’re looking to buy a home in Colorado—or planning to relocate here—acting quickly and staying well-prepared is essential. Here are my top tips:
- Get Pre-Approved for Financing: With multiple offers still common in certain areas, pre-approval shows sellers that you’re serious and ready to act.
- Prioritize Your Must-Haves: Knowing exactly what you need (and what you’re willing to compromise on) can make home viewing & decision-making easier.
- Work with a Local Expert: Partnering with a Realtor who understands the intricacies of the market can ensure you get access to the best homes as soon as they hit the market.
What This Means for Sellers
For sellers, the average DOM is your chance to strategize. If homes in your area typically sell within 30 days, pricing your property competitively can help you secure offers quickly. Plus, by enhancing your home with modern upgrades or staging it to emphasize its open spaces and outdoor areas, you can give buyers exactly what they’re looking for.
Remember, your realtor is your best resource.
Looking for more guidance? I’m here to help! Feel free to reach out if you have questions about navigating Colorado’s real estate market or need assistance finding (or selling) the perfect home. What’s your biggest challenge right now in the homebuying or selling process? Drop a comment below—I’d love to hear your thoughts!