The Colorado real estate market in November 2025 is sending mixed signals. Denver sellers are pulling listings at the second-highest rate in the nation (39%), while prices somehow rose 2% year over year. Meanwhile, Colorado Springs faces a documented 27,000 unit shortage, yet new construction has dropped by half. Additionally, 91% of Denver homes show value declines on Zillow, but actual sales prices climbed higher in the November 2025 Colorado real estate market.

Chris Lopez hosts the monthly Colorado market roundup with Jenny Bayless (Colorado Springs investor and agent), Brandon Scholten (Keyrenter Property Management CEO), and Troy Howell (Nova Home Loans senior loan officer). This panel breaks down November 2025 market data across both metros. Furthermore, they reveal what’s really happening beneath the surface of these contradictory trends.

November 2025 Colorado Market Trends

November brought sharp inventory changes across the Colorado real estate market. Specifically, new listings dropped 41% month over month in Denver and 36% in Colorado Springs. These represent typical seasonal patterns amplified by seller frustration.

However, active inventory declined 15% in Denver but remains 13% higher than last year. Notably, transaction volume matches 2009 levels despite Denver’s population growing 30-40% since then. The panel discusses why Colorado Springs condo prices jumped 10% year over year while Denver condos fell 7%. Additionally, Troy shares details on closing a $720,000 Steamboat condo—one of the few condo transactions anyone’s seeing.

Colorado Springs released a comprehensive housing assessment showing systemic affordability problems across all market segments in November 2025. The city documented that one-third of homeowners are cost-burdened. Moreover, renters need $78,000 annual income to comfortably afford the average $1,800 rent. Unfortunately, only one-third of renters earn that much. Building permits dropped from 9,000 units in 2020 to under 4,000 in 2024. In contrast, the city estimates needing 8,500 units annually. As a result, the panel debates potential solutions and why building costs make affordable housing nearly impossible without subsidies.

Investment Opportunities and Market Predictions

The Federal Reserve cut rates by another quarter point in November 2025. However, 30-year mortgages remain stuck at 6.2%. Troy explains why Fed actions don’t directly impact mortgage rates. Furthermore, he discusses what investors should expect heading into 2026.

Meanwhile, Brandon shares a recent win with a fourplex in East Denver generating $2,270 monthly on midterm rentals versus $1,350 for long-term. This represents a 70% premium that’s helping investors squeeze better returns from existing inventory.

Despite negative sentiment, the panel sees opportunity. With frustrated sellers, motivated buyers remain scarce. Additionally, transaction volume sits at multi-year lows. Nevertheless, December through February traditionally offers the best deals for patient investors. Chris, Jenny, Brandon, and Troy each predict where prices will land by December 2026. Their predictions range from “slightly negative” to “flat to fractionally improved.” Moreover, they discuss strategies for finding value in specific neighborhoods rather than chasing broad market trends.

In This Episode We Cover:

• Why Denver ranks second nationally for sellers pulling listings (39% delist rate) and what this signals
• How Colorado Springs faces a 27,000 unit shortage despite vacant Class A apartments downtown
• The paradox of 91% of Denver homes showing value declines while actual sales prices rise 2%
• Why transaction volume matches 2009 levels but nobody’s talking about it
• What Federal Reserve rate cuts actually mean for mortgage rates (spoiler: not much)
• Specific neighborhoods and property types where deals are available right now
• How one investor is generating 70% more revenue with midterm rentals versus long-term
• Building permit data showing Colorado Springs at half the required supply to meet demand
• Where four market professionals predict prices will be in December 2026
• Why December through February offers the best acquisition opportunities for 2026

Whether you’re hunting for your first Colorado rental property or managing a portfolio through choppy waters, this November 2025 market roundup delivers the specific data and local insights you need to make informed decisions. The panel’s predictions for 2026, combined with current opportunity identification, make this essential listening. Ultimately, anyone invested in the Colorado real estate market will benefit from these actionable insights and expert analysis.

Watch the YouTube Video https://youtu.be/0Arr3gpQrSk?si=E8CxNEOpXltRNEYq Timestamps

00:00 – Welcome & Guest Introductions
00:59– Colorado Springs Market Update – New Listings Drop 36% Month Over Month
05:45 – Denver Metro Market Trends – Active Inventory Hits 10,000 Units
09:18 – Condo Market Reality Check – Troy Closes $720K Steamboat Condo 
13:44 2026 Price Predictions – Four Experts Call Higher, Lower, or Flat
14:50– Transaction Volume Comparison – 2025 vs Great Financial Crisis Era
17:30 – Frustrated Sellers Pulling Listings – Denver Ranks 2nd Worst Nationally
20:17 – Zillow Data Reveals 91% of Denver Homes Down in Value Year Over Year
21:48 – Colorado Springs Housing Crisis – City Reports 27,000 Unit Shortfall 
29:18 – Building Permit Data Shows Supply Falling Short of Demand
34:27 – Federal Reserve Rate Cut Impact – What It Means for Mortgage Rates
36:02– Opportunity Discussion – Best Time to Buy in Choppy Markets
37:41 – Midterm Rental Success Story – 70% Premium Over Long-Term Rent

Connect with our Guests:

Jeff White: jeff@envisionrea.com

Troy Howell: troy.howell@novahomeloans.com

• LinkedIn: Troy Howell
• Website: https://www.novahomeloans.com/loan-officer/troy-howell/

Brandon Scholten: brandon@keyrenterdenver.com

• LinkedIn: Brandon Scholten
• Website: https://keyrenterdenver.com/

Links in Podcast

Frustrated Denver Home Sellers Are Pulling Their Houses Off the Market
Home Value Declines Spread, But Losses Since Last Sale Are Rare
City of Colorado Springs and El Paso County Regional Housing Needs Assessment

Who is Keyrenter?

Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them.

Who is Nova Home Loans?

For over 40 years, we’ve been focused on helping homeowners find the perfect loan to fit their financial needs and personal goals. Working with NOVA is a personalized experience from initial application to final loan closing and beyond. We will be with you every step of the way toward successful homeownership. Start working with NOVA & Troy Howell today!

NOVA FINANCIAL & INVESTMENT CORPORATION, DBA NOVA HOME LOANS NMLS 3087/ EQUAL HOUSING OPPORTUNITY/8055 EAST TUFTS AVENUE, SUITE 101/DENVER, CO