Housing markets downshifting hard across Colorado’s most populated counties in August | SummitDaily.com

Housing markets downshifting hard across Colorado’s most populated counties in August

Aldo Svaldi
The Denver Post
Jan Leopold, broker for Re/Max Properties of the Summit, helped sell this home, pictured in July 2021. The home is on Slalom Drive in Breckenridge, and according to the Summit County Assessor's Office, its sale price was $2.5 million.
Jonathan Huffman/Courtesy photo

COLORADO — Housing markets across the state slowed sharply in August, but some held up better than others in the face of rising interest rates and reduced buyer demand, according to an analysis of numbers provided by the Colorado Association of Realtors.

The Denver Post examined single-family home sales in August in Colorado’s 12 most-populated counties, which include the six core metro Denver counties — Adams, Arapahoe, Broomfield, Denver, Douglas and Jefferson — as well as the counties covering the state’s other metro areas — El Paso, Larimer, Weld, Boulder, Mesa and Pueblo.

The biggest decline in the number of single-family homes sold in August 2022 versus August 2021 occurred in Denver County, down 32.2%, followed by Weld County, down 31%, and El Paso County, down 30.2%. The smallest sales declines were in Pueblo County, down 16.3%, and Mesa County, down 18%.

The inventory of homes available for sale rose sharply year-over-year in most counties and more than doubled in two counties — El Paso, up 117.6%, and Broomfield, up 112.1%.

“What a difference a few months make. The shift is here, and it is moving fast,” said Colorado Springs-area Realtor Patrick Muldoon in comments included with the report. “Buyers have most of the power now, but are either patient or not interested. After all, why would they be? Every day is a news cycle of bad economic news ranging from stocks, inflation, layoffs and housing data.”

Read more on DenverPost.com.

Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Summit Daily is embarking on a multiyear project to digitize its archives going back to 1989 and make them available to the public in partnership with the Colorado Historic Newspapers Collection. The full project is expected to cost about $165,000. All donations made in 2023 will go directly toward this project.

Every contribution, no matter the size, will make a difference.