What's REALLY going on in Real Estate in Douglas and Elbert Counties?

Bottom Line on Top:

Despite increased inventory and slowing of sales, buyers waiting for prices to plummet to pre-COVID prices are unlikely to see a nosedive any time soon.


  • The recession and interest rate increases have slowed the market. Fewer bidding wars and more price reductions signal the sellers market has shifted.

  • Sellers have certainly lost some of their edge, but inventory levels of highly desirable properties are predicted to remain tight, especially as recent buyers are unlikely to want to sell quickly nor give up the great rates they secured and locked-in prior to March 2022.

  • The fall of 2022 is likely to be unsettled with regard to inventory levels, prices, and sales.

  • Douglas & Elbert County Horse properties are homes listed within Douglas or Elbert County, Colorado that have 3 or more acres and the zoning allows for horses.

In comparison to longer term trends, especially for the luxury market segment, inventory remains relatively low and prices remain at all time highs.

Beware information bias…

Sellers tell me “homes aren’t selling” because they see their neighbor’s property stay on the market longer than a weekend. It’s true, inventory has increased and it is taking longer to go under contract. BUT…

In comparison to longer term trends, especially for the luxury market segment, inventory remains relatively low and prices remain at all time highs.

"Prices are falling"

Don’t be chicken little …

The graph on the left reflects recent sentiment of “The sky is falling!” If you look at current year, 2022 buyers and sellers think “the prices are dropping.”

… that’s a perspective bias

If you put the prices into a 5 year perspective, you’ll see the data shows prices are still at all time highs.

And specific to the Luxury Market

Single-family homes market summary for June 2022: nationwide, it’s still a seller’s market, but sales price is only 80.67% of listing price.

And now the fine print: The above information has been researched from the Metro Denver MLS System and the Certified Luxury Home Marketing Institute by Penny Smith of Results Realty of Colorado based in Larkspur, CO. It is believed to be accurate, but is NOT guaranteed. Every property will have unique factors affecting value such as location, condition, acreage, quality, size, age, upgrades and features.  A thorough in-person assessment by an experienced real estate broker or licensed real estate appraiser is recommended to determine the actual current market value on an individual property.

P Smith