Some quick facts on the current market

• In 2024 according to Zillow, the average price of a home in Colorado was approximately $542,000.
• This represented a near 1% increase from 2023
• In January 2020, the average price of a home was $400,000 in Colorado
• The average home went under contract in a little over 30 days
• As of October 21.9% of home sales were over the list price
• As of October 53.8% of home sales were under the list price
• As of January 3, 2025, the average interest rate for a 30-year fixed mortgage in Colorado is 7.09%

Despite a modest 1% price increase from 2023 to 2024 with median home prices hovering around $542,000, Colorado's real estate market shows signs of a slight market shift, with over half of homes selling below list price and mortgage rates staying increasingly high at 7.09% as of early 2025 - a stark contrast to January 2020's average home price of $400,000.

What recent legislative changes in August mean for you?

Regarding the recent legislation changes that went into effect in August, there still remains a lot to be seen about the long term effects on the market. Here are the facts of what we know has changed according to the National Association of Realtors:

• Offers of compensation will be prohibited on Multiple Listing Services. Previously it was not illegal for sellers to outline in the MLS what the buyer's agent commission would be. It was believed and understood that this created certain biases for buyers working with an agent.
• Agents working with a buyer must enter into a written buyer agreement before touring a home.

Compensation for Buyer's Agent's is now negotiable, and could be the responsibility of the buyer

What remains to be scene is the overall impact that this change has on the market as a whole, and how it could potentially impact buyers. Certain professional's in the industry believe that these changes could have an adverse effect on home buyers for a number of reasons. If the onus of the buyer's agent commission is place on the buyer then this could place an unintended burden on home buyer's of all ages and ranges as they struggle to come up with the funds for the home purchase on top of compensating an agent. These funds are not part of the home loan, meaning that lenders will not cover this compensation cost, forcing buyer's to come up with compensation out of pocket, unless the seller agrees to cover some or all of these fee's this will certainly hurt home buyers.

How Shishito helps navigate new legislation

Shishito empowers home buyers to confidently represent themselves in the purchase process. Our platform features an AI-powered system that guides buyers through each section of the standardized Colorado Division of Real Estate contract. We've implemented a legally binding e-signature process that puts you in total control of the contract flow.

We understand that the contract is just one piece of the home-buying journey. That's why we provide comprehensive support for post-contract responsibilities, including a curated list of professionals you may need during the purchase process. Our belief is simple: you are capable of managing your home-buying process. By eliminating buyer commission and providing the right tools, we give you every advantage you need in your next home purchase. You can do this, and we're here to help."

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