Northern Colorado Market Report — August 2025

Luxury. Legacy. Investment. Relocation.

Executive View

We’ve reached the fall market. Seasonally, we typically see a surge in sales September - November, and so we have our eyes set on the coming months. A dive into the August data shows us the market is presenting opportunities for buyers who are in a position to buy, and sellers who are strategically minded. Here’s what we are seeing: Number of Homes Sold Trend Down: A new trend, we’ve seen the total number of homes drop in most cities this month; the increased inventory this year has led to increased sales numbers so far this year. For August, for the first time this year, we’ve started to see the number of homes sold drop across the region versus this time last year. Notably, Loveland is down 1%, Berthoud down 21% and Estes Park 33% down. A bright spot: Longmont’s sales rose 11% YoY. Inventory Up but Slowing: Across the region, the number of homes for sale is up year over year: Estes Park up 37%, Fort Collins up 17% and Denver Metro up 17%. In recent weeks, however, it looks like the number of new listings hitting the market is beginning to slow, which will allow inventory to level off in coming weeks. Prices Largely Unchanged: Despite lower numbers of homes sold and higher inventory levels, prices have remained largely unchanged versus this time last year. Average sales prices stayed exactly the same in the past 12 months in Fort Collins, Boulder and Longmont. Timnath saw a 13% increase due to lower levels of homes available in the Luxury segment; Estes Park a 6% decrease driven by higher inventory levels and seller price reductions. Months of Inventory Up and Down: A key metric the real estate industry measures, months of inventory signals how the market is shifting in any given area, indicating how quickly homes are being purchased. Estes Park is the regional stand out with a 27% increase in months of inventory, with 7 months of supply available, indicating the city is in a buyer’s market. Windsor, on the other hand, has seen fewer homes on the market, and more sales, reducing its outlook to 2.7 months of inventory, a 24% drop, which is positive for sellers looking to sell this year in the city. Nationally, Average price Per Square Foot Dips for the First Time Since 2023: Noted on the national front, Compass Intelligence Economist Mike Simonsen tracks the average price per square foot nationally, and for the first time since 2023, the metric has dropped and is now below 2024 levels, a sign that both builders and resale home owners are accepting lower prices for their homes. Simonsen predicts the full year of 2025 will end a bit lower than 2024 when it comes to this metric. Luxury Market Stable with Notable Increases: Looking at the top 5% of the market, things are fairing better in the region. Notably, the number of luxury homes sold in Fort Collins in August 2025 vs 2024 has increased 62%, Longmont up 20%. Timnath saw a 65% decrease in available inventory in the Luxury segment, a signal the market remains extremely tight in the $1.15M plus range in the city, presenting an especially good opportunity for those needing to sell soon. Taking Action in 2025: For buyers who are in a position to buy, either a first time home, investor or dream home buyer, the remainder of the year presents a rare opportunity in the region to avoid competition and negotiate favorable terms; if you are able to buy, we recommend making that a priority now. For sellers, in particular markets (ie the Luxury segment in Timnath), there are opportunities to take advantage of the market, in other areas, a critical eye on strategic, competitive pricing, home repairs and staging are paramount; sales are happening, and largely at similar prices to previous years. A thorough, well planned strategy is critical for all buyers and sellers, in all cases.

General Market: Supply High, Sales Softer, Prices Steady

Inventory
Homes for sale increased broadly across the region: Northern Colorado +20%, Boulder Valley +17%, Denver Metro +21%, and Denver Foothills +30%. Cities such as Fort Collins (+17%), Loveland (+30%), Longmont (+19%), Boulder (+9%), and Evergreen (+38%) all posted year-over-year gains.

Sales Volumes
After months of higher activity, August brought declines: Loveland (−1%), Berthoud (−21%), and Estes Park (−33%). Longmont stood out with an 11% rise. Regionally, Northern Colorado sales fell 5%, Boulder Valley rose 6%, and Denver Metro declined 30%.

Market Balance (Months of Inventory)
Months of Inventory rose in most areas, reflecting greater leverage for buyers. Northern Colorado: 3.7 months (+7% YoY); Boulder Valley: 4.3 (+10%); Denver Metro: 3.54 (+19%); Foothills: 3.2 (+23%). Estes Park, at 7.0 months, leans heavily toward buyers, while Longmont (3.5) and Fort Collins (3.3) are more balanced.

The tightest sub-market this month was Timnath’s luxury tier at 2.7 months (down 65% YoY). Windsor’s general-market MOI printed 3.2 months (down 24% YoY).

Pricing
Despite shifting supply and sales, prices remain broadly steady. Northern Colorado single-family homes rose 2% YoY; Boulder Valley was flat; Denver Metro +1%; Foothills +1%. Outliers included Timnath (+13%) and Estes Park (−6%).

Luxury Market: Resilient Demand, Tight Pockets of Supply

Northern Colorado luxury ($1.15M+)
New listings +5%, homes for sale +14%, closed sales −4%. Months of Inventory fell to 7.3 (−15%), showing relative absorption despite more listings.

Boulder Valley ($4M+)
New listings −8%, sales −40%, MOI 17.6 (↑4%)—buyers dominate at this price tier.

Denver Metro luxury ($2.4M+)
New listings −13%, sales +2%, MOI 7.5 (↑14%)—balanced, with elevated selection.

City Highlights

• Fort Collins: Luxury sales +62%, volume up 36% despite lower average prices (mix-driven).

• Longmont: Luxury sales +20%, average price +27%, volume up 52%.

• Timnath: Inventory −36%, MOI 2.7 (tightest in the region).

• Windsor: MOI 5.1 (down 43%), average price +21%, highest sale $3.85M.

• Boulder: Luxury slowed sharply with only one $4M+ sale in August; average price −27%.

• Denver Metro: Luxury sales +2%, highest sale $9.75M, total volume down 5%.

City Snapshots (General Market)

• Fort Collins: Inventory +17%, sales −1%, MOI 3.3, single-family prices flat.

• Loveland: Inventory +30%, sales −1%, MOI 3.9, prices +3%.

• Longmont: Inventory +19%, sales +11%, MOI 3.5, pricing flat.

• Berthoud: Inventory +6%, sales −21%, MOI 4.3, prices +4%.

• Estes Park: Inventory +37%, sales −33%, MOI 7.0, prices −6%.

• Timnath: Inventory −2%, sales −14%, MOI 4.4, prices +13%.

• Boulder: Inventory +9%, sales +1%, MOI 5.3, pricing stable.

Segment Analysis

Luxury

Buy-side: Elevated inventory across the metro provides optionality, except in Timnath and Windsor, where scarcity requires fast decisions. Buyers benefit from negotiating power in Boulder’s ultra-luxury tier.
Sell-side: High design and turnkey condition still command premiums. Fort Collins and Longmont sellers are well-positioned; Boulder sellers above $4M must prepare for longer timelines.

Legacy

Buy-side: Families making generational moves can benefit from stable pricing in core cities (Fort Collins, Boulder, Longmont) and secure long-term equity.
Sell-side: Legacy sellers in Estes Park and Loveland must be especially strategic with pricing and preparation as inventory builds and concessions grow.

Investment

Buy-side: Elevated Months of Inventory in Estes Park and Denver Metro signal negotiation windows and potential discounted acquisitions. Longmont’s combination of higher sales and rising luxury values reinforces rental and resale demand.
Sell-side: Investors looking to reposition properties can still exit profitably in strong-demand pockets like Longmont or Windsor, but timing is crucial before winter slows absorption.

Relocation

Buy-side: Northern Colorado remains a value play relative to coastal metros. With elevated inventory, relocators have rare flexibility to compare neighborhoods and lifestyle options without rushing.
Sell-side: Sellers should highlight quality-of-life differentiators—schools, trail systems, proximity to Denver/Boulder—when marketing to out-of-state buyers.

National Signals and Headlines

Nationally, the average price per square foot dipped below 2024 levels for the first time since 2023, indicating both builders and resale sellers are adjusting expectations. Projections suggest 2025 may close slightly below 2024—consistent with a soft-landing scenario rather than a sharp correction.

Mortgage rate headlines are also shifting. With speculation of the Federal Reserve moving toward modest cuts later this year, even small reductions could improve affordability, spark buyer urgency, and stabilize absorption. Sellers should be mindful: once rates adjust downward, buyer demand could re-accelerate.

What This Means Through November

For Sellers

• Lead with strategy. In competitive segments (Estes Park, Boulder Valley luxury), precise pricing and thoughtful preparation are critical.

• Timnath and Windsor luxury sellers should seize the moment while conditions remain in their favor.

• The fall window is seasonally supportive—well-priced listings can still clear before holiday slowdowns.

For Buyers

• Negotiation is back. Elevated MOI across most cities gives room to secure credits, buydowns, and favorable terms.

• Move decisively in tight pockets (Timnath luxury, Windsor lake/golf properties).

• Focus on quality—condition, location, and hold horizon matter more than chasing marginal discounts.

Summary

The Northern Colorado housing market is balanced on a fine edge: elevated inventory, softened sales volumes, and mostly stable pricing. City-level differences are sharp, with Longmont, Fort Collins, and Windsor showing strength, while Estes Park and Boulder luxury face headwinds. For buyers, this is a rare moment to negotiate without the bidding wars of recent years. For sellers, success lies in disciplined preparation and clear strategy.

With rates potentially easing and the fall season underway, the months ahead will be decisive for those ready to act.