Is the Denver real estate market cooling?

Local News

DENVER (KDVR) — The red-hot real estate market in Denver may be cooling off just a bit.

New data shows there is more inventory available and the houses may not sell as quickly as they did in the spring.

Miranda Streit, a relative of a FOX31 employee, said her six-bedroom house in southeast Aurora listed on Friday and they only had six showings in four days.

“We are a little surprised,” she said.

That’s not what she and her husband were hoping for.

“A couple of months ago, when our neighbors sold their house, they had a line out the door waiting to go in and out,” she said.

But realtors say there is more inventory available now than there was then.

“Our market has definitely shifted in the last couple of weeks, significantly,” said Kelly Moye, spokesperson for the Colorado Association of Realtors.

Moye said demand has changed as well. Some buyers are tired of the process. Others are traveling. Plus, the market typically slows in late summer.

“What we are seeing more now is three-to-four weeks on the market. We are not seeing the multiple offers like we used to see,” Moye said.

But she says this is a nice window for buyers.

“There are some sellers who are getting a little frantic because they really thought their houses would sell in a day or two, and they haven’t, and so you might have a little bit more motivation there than what you had before,” Moye said.

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