Looking across the real estate climate in northeastern Colorado, numbers have flattened out or dipped from a year ago. As the second winds down, sales are up one percent in northeastern Colorado with the average home price rising about $2,500 from the second quarter of 2024 a half a percent. Highlights in the area, for home prices, were Weld County (up $8,000 from Q2 in 2024). The Keenesburg/Hudson/Roggen communities saw a big jump in equity, after a sluggish first quarter (up 12 sales and up $72,186 on average price from 2024).
What do flat numbers mean for consumers? The first numbers to look at, to see if we are in a Buyer’s or Seller’s market are months supply and days on market. The reason for looking at these numbers is the answer of how much supply is there for the demand. When the months supply number is under three months, this means the market is turning over in less than three months. Far more buyers than the number of homes on the market. When this number is between three and six months, this is considered a balanced market. An equal number of consumers on both sides of the table. Once the months supply number moves above six months, this changes the market in the favor of buyers. With single family residence homes in Weld (3.7 months supply) and Adams (3.3 months supply) counties, there continues to be a balanced market. After a slow second quarter, Morgan County has moved into the beginning of a Buyer’s Market with the months supply right at six months and averaging 78 days on market for homes sold in 2025.
What does this mean for buyers? The buyer is in a better spot, when it comes to negotiating. One of the most common reasons for buyers not buying is because of affordability due to home prices and the interest rates, which jumped in 2022. These negotiations can lean in the buyer’s favor when it comes to having the home price lowered. What is more commonly seen, this year, is that home buyers are asking for concessions to go toward buying down interest rates (permanently or temporarily) or funds to go toward closing costs. Depending on the buyer’s loan type and amount, these concessions could potentially save them quite a bit of money on their monthly payments.
What does this mean for sellers? Patience, educated pricing, and flexibility in their negotiations may be the difference of selling their home or sitting on the market. Some lenders are offering programs to sellers to lock in a lower interest rate for a buyer (who use that “preferred” lender). This can be marketed to potential buyers and gives them an opportunity to get lower rates on a loan, which lowers their monthly payment. Pricing their home at a market-friendly list price and presenting their property in marketing and showings, matching that price, is leading to more positive gains for sellers. This is a reminder that it is the market of buyers who dictate what the market value of a home is. What a buyer will pay for a property, it technically what it is worth.
Lastly, patience. Time is a key area of leverage, when it comes to residential real estate sales. If a seller is ok waiting for the right buyer to come along, they may be able to wait and get the price they are hoping for. The same goes for buyers. If there is no urgency on time, they can often get the deal they would like on their next home, because time is not an issue.
