Denver Housing Market Small Supply Of Homes That Sell Quickly

Dated: 05/17/2017

Views: 44

From The Denver Business Journal May 17 2017

By Ben Miller


Denver's housing market last month can be summed up thusly: There were a small number of homes for sale, and homes sold very quickly.

Denver's housing market mirrors a national trend: According to Colorado-based real estate company Re/Max Holdings Inc., there is "ever-tightening inventory coupled with increased prices" across the country.

The shortage of homes for sale is clearly evident in Denver: There was only a one-month supply of homes for sale Denver last month, and Re/Max said that six months is considered a normal market, "balanced equally between buyers and sellers." Denver trails only Seattle, at 0.9 months, for the U.S. market with the lowest months supply of inventory.

And Denver homes don't stay on the market for very long: The average days on market for homes sold in Denver last month was 25. Only San Francisco homes sold more quickly, at 22 days. Nationally, the average days on the market for homes sold was 57.

"Inventory is tighter than ever, while strong demand keeps driving up home prices. At the same time, many potential sellers may also be reluctant to list their homes because the tight inventory might impact them as buyers," said Dave Liniger, Re/Max CEO, in a statement.

I n late March, another real estate company described the Denver market as homes "flying off the shelves," selling at "lightning fast" speeds.

Blog author image

Ranae Urso

My name is RaNae Urso and I specialize in residential sales and buyer representation in the Denver Metro area. I have been in the real estate business over 14 years of my 30 years in Colorado. I enjo....

Want to Advertise on this Site?

Latest Blog Posts

5595 Darien Way Open House Saturday

     OPEN HOUSE       FEBRUARY 24th      10AM-2PMThis one of a kind home nestled in Mountain Shadows will capture your heart the moment you step

Read More

5595 Darien Way

http://brittany.denverhomesearchnow.com/details.php?mls=30&mlsid=6464016&ppc=&noreg

Read More

4 Tips To Get Approved For A Mortgage As A Sole Proprietor

Flexible hours, unlimited earning potential and no annoying boss? You must like the perks that come with self-employment. Taking your career into your own hands can be extremely rewarding,

Read More

Denver Events

Don't miss out on these upcoming Denver Events.February and March 2018 Denver Events-Start planning now for exciting 2018 events and festivals in Denver. Scroll down our month-by-month list and 

Read More