milehimodern market report // Q1 - 2023

welcoming a sense of balance

As we move away from what was considered one of the most erratic years in the real estate industry, the era of “unprecedented times” is in the rearview mirror. At the peak of the market in recent years, interest rates were at historic lows, inventory was scarce and many homes were under contract in less than a week. Pandemic-fueled purchasing informed the distinct challenges — and the many rewards — of buying and selling real estate, so as the country transitions into a state of balance, we are beginning to see the muchneeded shift into a corrected and traditional market.

Even as federal interest rates increased and inventory began to crawl back up in 2022, the demand for homes in Colorado remained steadfast. This is due in part to the fact that Colorado affords a lifestyle that no other place in the country can offer — seamless access to world-renowned mountain adventure, a job market backed by technological advances at sought-after companies and microcosms of niche communities that make up the greater metro areas.

The seasonality of the market, while still present even during the turbulence of the past, is more apparent as we shift into the competitive spring and summer months. Buyers are encouraged to move quickly while the market accelerates, and sellers should continue to seek representation at the highest levels for their desirable homes. milehimodern’s unparalleled standards of service allow us to achieve successes within every shift of the market. We are so grateful to serve the cherished communities we call home.

Colorado Median Price

The above Colorado data is based on counties statewide. The following Denver data is based on eleven counties in the Denver Metro Area: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park. The following Boulder data is based on Boulder County.

denver