Western Slope counties entered summer with far more homes on the market than in recent years, pushing supply to 5.5 months in Summit, 8.4 in Grand and 10.5 in Pitkin and giving buyers more room to negotiate.
Statewide, new listings fell nearly 14% in May from a year earlier, but pending sales rose 7%, suggesting buyers stayed active even as single-family median prices climbed 2.7% to $565,000.
Longer selling times reinforced the shift: homes averaged 56 days on market statewide, 90 days year-to-date in Steamboat and 228 days in Pitkin, increasing pressure on sellers to price accurately.
Pricing remained uneven across mountain towns, with Summit single-family averages up 6% to $2.68 million while Pitkin's single-family median dropped 58.5% to $5.5 million and Routt posted sharp gains.
Mortgage rates are the main risk to summer demand, having risen to 6.51% by July 2 after earlier declines, even as brokers say interest in mountain living remains intact.