It’s the question I hear most from potential buyers: “Elizabeth, should I wait for prices to drop, or should I buy now?”

As a Denver Realtor who’s helped many families navigate our market, I’m going to give you the honest answer—not the sales pitch. Because here’s the truth: there’s never a “perfect” time to buy, but there are smart times and not-so-smart times and most of that comes down to your specific needs and situation.

Let me break down exactly what’s happening in our Denver market right now and help you make the decision that’s right for you.

The Reality Check: Denver’s Long-Term Trend

First, let’s address the elephant in the room. Yes, Denver home prices have risen significantly over the past few years. But here’s what most people don’t realize: the average home price in Denver has risen nearly every year since 1980.

That’s not a bubble—that’s a 45-year trend driven by:

• Consistent population growth
• Limited developable land (mountains and plains)
• Strong job market and economy
• Desirable lifestyle and climate

The Bottom Line: Waiting for a major price correction in Denver is like waiting for snow in July—it might happen, but you shouldn’t plan your life around it.

What’s Different About 2025?

The Good News for Buyers:

• More inventory: Up 15% from last summer
• Less competition: Bidding wars are rare, not routine
• More time to decide: Homes are staying on market 18-25 days vs. 8-12 days in peak years
• Negotiating power: You can ask for repairs, closing costs, and other concessions again

The Reality Check:

• Interest rates: Settled in the 6.5-7% range (higher than 2020-2021, but historically normal)
• Prices: Still appreciating at 3-5% annually
• Good homes: Still move quickly in desirable neighborhoods

The Cost of Waiting: A Real Numbers Analysis

Let’s say you’re looking at a $700,000 home in Littleton today. Here’s what waiting might cost you:

Scenario 1: You wait one year

• Home appreciates 4%: Now costs $728,000
• Your down payment needs increase by $1,400
• You pay 12 more months of rent (average $2,200/month = $26,400)
• Total cost of waiting: ~$29,800

Scenario 2: You buy now

• Build equity immediately
• Lock in today’s price
• Start benefiting from appreciation instead of paying for it

The Math: Even with higher interest rates, buying now typically costs less than waiting and hoping. Refinancing in the future is always an option and many lenders will give a discounted (or free) refinance when rates change.

But What If You’re Not Ready?

Here’s where I give you the real talk: Don’t buy if you’re not ready.

You’re NOT ready if:

• You haven’t been pre-approved for a mortgage
• You don’t have stable income or employment
• You’re planning to move within 2-3 years
• You don’t have an emergency fund after your down payment
• You’re buying just because you think you “should”

You ARE ready if:

• You can afford the monthly payment comfortably
• You plan to stay in Denver for 5+ years
• You have stable income and employment
• You’re tired of rent increases and want to build equity
• You understand that homeownership is a long-term investment

The Denver Advantage: Renovation Potential

Here’s something most buyers overlook: Denver’s housing stock from the 1960s-1990s offers incredible renovation potential. While everyone’s fighting over the few move-in-ready homes, smart buyers are finding value in homes that need some work.

Recent Client Example: A buyer I worked with last month found a solid 1970s ranch in Hutchinson Hills for $675,000. Comparable updated homes were selling for $800,000+. After a $75,000 kitchen and bathroom renovation, they have a home worth $850,000+ and saved money while getting exactly what they wanted.

The Key: Working with someone who understands both real estate and renovation potential. That’s where my dual expertise as both Realtor and General Contractor makes a difference.

Neighborhood-Specific Timing Advice

Washington Park Area

• Best Time to Buy: Now through early fall
• Why: Summer inventory is higher, and you’ll have more choices
• Look For: Homes with original hardwood and good bones

Littleton

• Best Time to Buy: Year-round market, but summer offers most selection
• Why: Family-friendly area with consistent demand
• Look For: Homes near good schools that need cosmetic updates

Englewood

• Best Time to Buy: Act quickly when you find the right home
• Why: Up-and-coming area where good deals move fast
• Look For: Walkable locations with character

Southmoor & Hutchinson Hills

• Best Time to Buy: Summer for best selection
• Why: Many homes have renovation potential
• Look For: Mid-century homes with large lots

My Honest Recommendation

Buy now if:

• You’re financially ready
• You plan to stay 5+ years
• You’ve found a home you love (or can love with some work)
• You’re tired of rent increases

Wait if:

• You’re not financially stable
• You might relocate soon
• You’re hoping for a major market crash
• You haven’t been pre-approved

The Truth: Perfect timing doesn’t exist, but good timing does. And for qualified buyers who plan to stay long-term, 2025 offers some of the best buying conditions we’ve seen in years.

The Bottom Line: It’s About Your Life, Not the Market

The best time to buy isn’t determined by interest rates or market predictions—your life situation, financial readiness, and long-term plans determine it.

Denver real estate has been a solid investment for 45 years. While no one can predict the future, the fundamentals that have driven our market’s growth—population growth, job market, lifestyle, geography—remain strong.

Ready to Explore Your Options?

Whether you’re ready to buy now or want to start planning for the future, I’m here to give you honest advice without the pressure. As both a Realtor and General Contractor, I can help you see opportunities others miss and make smart decisions for your situation.