Colorado realtors are calling it a buyer’s market. And on paper, sure — more listings, longer days on market, and slightly softer prices.
But The Colorado Sun reports the punchline we all feel in our checking accounts: even with more inventory, the monthly cost of buying is “essentially 100% more than renting” in places like Denver. That’s not a “market.” That’s a financial force field.
So yes: “buyer’s market.” As in, buyers exist… somewhere… probably in a different income bracket.
More listings, fewer humans with money
The Sun opens in Aurora, where longtime Realtor Sunny Banka says there were more than 1,800 houses and condos for sale about a dozen days into 2026 — up from around 1,500 just days earlier. Banka says Aurora prices have fallen 5% to 8% in a year, with some homes “down over $100,000” compared to 2024 expectations.
And yet… buyers are “MIA.”
Cooper Thayer, a Denver-area Realtor, gives the reason in one word: friction. Deals happen only when “price, payment and product line up cleanly.” Which is realtor-speak for: nobody wants to get trapped paying champagne prices for a house that needs a roof and comes with a payment that eats a third of your life.
The buy-vs-rent gap is a gut punch
Thayer’s big slide for the Colorado Association of Realtors summit: buying costs about double renting. He attributes the gap to elevated prices plus mortgage rates, property taxes, insurance and maintenance.
His estimate: leasing an apartment in Denver costs $22,675/year vs. $45,395/year for a mortgage payment that includes property taxes, insurance and other fees.
So when we hear “buyer’s market,” we have a question: buyer of what? Because for normal households, the only thing on sale is the dream.
And yes, the differential has been worse (it hit 118.9% in 2022, per data Thayer shared). But “it was even more insane during the pandemic frenzy” is not the flex anyone thinks it is.
Balanced market, unbalanced reality
The Colorado Association of Realtors spokesperson Jared Reimer calls 2025 a “reset year” with a “resilient and balanced” market. Other agents quoted across the state (Colorado Springs, Durango, Boulder) forecast a similar 2026: stable, balanced, slight appreciation, no clear advantage.
We love how the industry keeps using the word “balanced” while also admitting that buying is about 100% more expensive than renting. That’s not “balanced.” That’s a rigged carnival game where the prize is a 30-year obligation.
December data from the Colorado Association of Realtors shows homes sat longer: 70 days in metro Denver (up 20.7%) and 76 days statewide (up 11.8%). Median sales prices fell 2.6% statewide to $560,000 and 2% in metro Denver to $599,900.
Translation: prices are “down” the way a $12 burrito is “down” because it used to be $13.
The condo “starter home” is getting kneecapped by HOA fees
Here’s the brutal part. Condos and townhouses — the supposed “affordable” on-ramp for first-time buyers — are sliding. The Sun reports the median condo/townhouse price ended the year at $395,000, down 3.7% from 2024 and down from $501,578 at the end of 2022.
In December: 6.4% more listings, 7.6% fewer units sold, and days on the market increased 21% to 75 days.
Why? Rising homeowner fees. The Sun says HOA fees jumped due to rapidly increasing property insurance premiums and higher maintenance costs. And if HOAs don’t keep up, it can prevent buyers from getting a conventional loan.
Thayer lays out the math: every $100 increase in monthly HOA fees is roughly equivalent to $16,680 in lost purchasing power. At $500/month, the impact is about $83,400.
So the “starter home” now comes with a recurring bill that quietly eats an entire down payment’s worth of affordability. Cool system. Totally normal. Nothing to see here.
We’re the ones living in the “buyer’s market” punchline
We’re told Colorado is thriving. We’re told the market is “balanced.” We’re told to celebrate a 2% price dip like it’s the Second Coming of affordability.
But we’re also told — in the same breath — that buying can cost about double what renting costs, and that condos are getting crushed by HOA fees driven by insurance and maintenance. That’s the reality for normal Coloradans trying to build a life here without winning the tech lottery.
If this is the “reset,” what exactly are we resetting to — permanent renter status?
Sound off: is buying even rational anymore?
Are you seeing the same thing in your neighborhood — more listings, fewer serious buyers, and HOA fees turning “affordable” condos into luxury subscriptions?
Drop your local numbers in the comments and share this with the friend who keeps saying, “Just wait till spring.” Sure. Totally. Great plan.
Source: The Colorado Sun
Just Stop It
