How Time on Market Affects Home Sale Price

Pay attention to listings that have been sitting for a while.

Because time on market changes the seller’s mindset. The longer a home sits, the more likely the seller is to get flexible on price, repairs, and concessions.

And in a market like ours (where some homes fly and others stall), that can be where the opportunity is.

Why “Days on Market” matters (especially here)

In Colorado Springs, buyers are paying attention. If a home hits the market priced right and shows well, it usually gets traction quickly.

But when a listing lingers, a few things tend to happen:

• The listing gets “stale” online (buyers assume it’s overpriced or has issues)

• Showings slow down

• The seller starts hearing feedback they may not want to hear (price, condition, layout, location, etc.)

• Negotiating power shifts toward the buyer

That shift is exactly what smart buyers look for.

The Opportunity: homes that have already had to adjust

Nationally, a meaningful chunk of sellers have been making price cuts as the market normalizes (Realtor.com has reported roughly 1 in 5 listings seeing a price reduction in recent data).

Colorado Springs isn’t immune to that pattern. Even when our local market feels active, you’ll still see pockets where:

• the original price was too optimistic

• the home needs cosmetic work

• the timing was off (hello, holidays and winter)

• there’s a mismatch between “online photos” and “in-person feel”

Translation: there are deals out there, but you usually find them where the hype has cooled down.

The Tactic: target homes with higher days-on-market (DOM)

If you want leverage, here’s what to do:

1. Search for listings with longer DOM (your agent can filter this fast)

2. Look for price drops in the listing history

3. Ask smart questions: Why hasn’t it sold? What feedback has the seller gotten?

4. Make a clean offer, but negotiate the extras

   • closing cost credits (big one right now)

   • interest rate buydown (depending on the loan + seller motivation)

   • repair concessions or a home warranty

   • flexible possession timelines (sometimes that’s worth real money to a seller)

When you’re not competing with 10 other buyers, you’re often negotiating with logic, not emotions.

“But if it’s been sitting… should I be worried?”

Sometimes it’s a red flag. A lot of times it’s not.

In Colorado Springs, common reasons a home sits longer include:

• it’s priced like a “perfect home” but needs updates

• it’s tough to show (tenants, pets, limited availability)

• photos/marketing don’t match the property

• layout quirks (that matter to some buyers, not all)

• location factors (traffic, backing to a busier road, etc.)

The key is figuring out if the issue is “fixable” (price/terms) or “permanent” (location/functionality). That’s where a good strategy (and good due diligence) matters.

Even a small discount can be a big win

A price reduction doesn’t have to look dramatic to matter.

Example: On a $500,000 home, even a 3% difference is $15,000. Add seller credits or repairs, and you can be looking at real savings without “winning” some crazy bidding war.

And honestly? Sometimes the best deal isn’t the biggest price drop it’s the seller paying your closing costs or helping buy down your rate.

What this means if you’re selling in Colorado Springs

If you’re on the seller side, this is the part you really want to avoid:

A listing that sits and then has to chase the market down.

If you want top dollar, the goal is usually to launch strong:

• right price (based on comps and current competition)

• clean + staged (or at least “photo-ready”)

• great photos + strong description + clear showing access

• a plan for feedback in the first 7–14 days

Because the market’s first impression is a big deal and it’s hard to get that momentum back once it’s gone.

Bottom Line

If you’re buying in Colorado Springs and trying to stretch your money, don’t just look at the “hot” listings everyone’s chasing.

Some of the best opportunities are the homes that have been sitting a little longer where the seller is more open to negotiating price, credits, or repairs.

Need help with your real estate goals? Book a free consultation:  livingthesprings.com/iris-burton