What I'm Telling My Clients Right Now: Denver's Summer Market Lull

It's a quiet summer in Denver real estate. Closings are down 6% and new listings hitting the market are down 4%. Here's what that means if you're buying or selling right now and how to make a smart move in this market.

Rates Are Settling Into a New Normal

Wars, tariffs, and inflation aren't doing interest rates any favors. It looks like we're settling into a new normal, with average conventional 30-year mortgage rates hanging between 6.5% and 7%.

Many buyers have taken the summer off to travel, and would-be sellers are eyeing Fall, when Denver typically sees a jump in activity between summer and Thanksgiving.

My Advice to Buyers: Be Patient, Not Desperate

For the buyers I'm working with, I'm pushing patience. There are homes on the market, but many don't hit that 80% threshold I talk about often — if a home matches 80% of your must-haves, it's worth writing an offer on. Don't put yourself in a position to buy out of desperation.

Get in touch sooner rather than later so I can track off-market opportunities and help you dial in on your target neighborhood and home type. That way, when the right one comes up, we can move fast — because the good ones still go very fast. Just last weekend, a home in Bow Mar landed multiple offers and went under contract $150,000 over asking.

The upside for buyers: overpriced homes and ones that need work are sitting longer, and that's an opportunity. Homes lingering on the market aren't lemons. They just need a buyer who sees the potential and is ready to negotiate.

Two-thirds of deals right now include a seller concession for closing costs or rate buydowns, averaging $10,000. That's a meaningful assist, especially in the median-priced market.

My Advice to Sellers: Pricing and Prep Still Win

The sellers winning big this year are the ones who took my advice on pricing and preparation. How you present your home, online and in person, matters more than ever.

A client of mine in Thornton recently repainted the entire interior and exterior and replaced all the carpet. The staging looked phenomenal. That few-thousand-dollar investment netted them tens of thousands more than comparable homes without the cleanup, and it landed multiple offers in just two days.

It's tempting to sell "as is" or offer a credit instead of doing the work. But that approach usually costs more on the back end than it would have upfront. Buyers are paying close attention, and most want move-in ready  if your home isn't, they've got plenty of other options.

This doesn't mean a full remodel. Even outdated homes benefit from simple fixes that freshen up the space and make buyers comfortable writing an offer.

And of course, nothing matters more than price. Get it wrong out of the gate, and you'll need a big price cut just to get attention again.

The Bottom Line

Transactions are still happening, and great homes are still hitting the market,  just less often. Whether you're buying or selling, the key right now is being prepared to make a smart, confident move when the right opportunity shows up.

Questions about your specific situation? Let's talk.

-Ryan Haarer, Denver Real Estate Agent