I sense a change in the market here in Parker, Colorado. 

Here in Parker, we have 325 homes listed for sale that are priced from $600,000 to $1,000,000.  Many, if not most of these homes, are priced to sell.   Homes Currently For Sale In Parker Colorado

Let me say right up front, this is my opinion based on a "gut feeling".  I haven't done any fancy analysis.  Just day to day observance of the real estate market here in Parker and other surrounding towns here in Colorado.

Prices have softened.  No question about it.  We're seeing more price reductions than I can remember for a long time back.  And, significant price reductions of $25,000 to $50,000.  Some of this is due to initial over pricing.  Sellers expecting too much and real estate agents letting the sellers make the pricing decisions.

So, what does this mean?  This is quite possibly the best buyer's market that we've had in many years.  If it were not for the higher mortgage interest rates, homes would be selling at a record pace.  But, rates are high and buyers are reluctant to "pull the trigger".  Big mistake.  Rates are expected to fall over the next months and year.  If they do, these current home prices are going to spike.  The smart thing to do is buy at today's prices and refinance at future interest rate prices.