Homes spend nearly two months on the market
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Colorado homes spent a median of 47 days on the market before going under contract in August, according to new Redfin data.
Why it matters: It's the latest sign of a cooling housing market in Denver that is giving buyers an advantage.
Reality check: For many, home buying still feels out of reach, even as houses staying on the market longer tend to favor buyers, giving them more options and leverage.
Zoom in: Median home prices in Colorado are relatively flat, though single-family homes in Denver and Boulder counties did see a recent dip in prices from a year ago, the Colorado Sun reported.
- Roughly 60% of homes sold this year came with concessions averaging $10,000-plus, per the Sun.
The big picture: Homes are generally selling faster in the Midwest and Northeast and slower in the South — another sign that America is seemingly split between two housing markets.