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Denver Metro 6 County Inventory Count

Friday Fun Facts: As record low inventory levels continue to dominate the real estate narrative in Colorado – we have been monitoring inventory levels each Friday in the 6 County Denver Metro Area. This week we are up (+665) properties for a total of 6,725 since our report March 29th.  Compared to this time last year we are up +1,662 properties.  However, we are still below last years high of 8,418 set on Oct 14th.  Sales have continued to remain strong and our absorption rate remain steady raising 1.56 months to 1.59 months.  Denver County remains broke the 2K listing count for the first time in 2019 and continues to lead the Metro with 2,107 active listings and Broomfield County continues to have the fewest listings at 160 properties.  Current publications indicate a balanced real estate market would need a minimum of 18,000 listings (see video below).  Thinking about selling…let’s talk!

What do these numbers mean? To help understand what these numbers mean to our local markets we are now including the number of sold comps during the past 30 days or 1 month.  Looking at our sold numbers over the past month allows us to calculate a monthly absorption rate.  An absorption rate tells us how many months it would take to sell off our entire inventory should we have no new listings.  A balanced market is considered 6 months.  Below we see Jefferson County has the lowest absorption rates at 1.32 months while Denver county is just above two months at 2.02.

County Sold Active Absorption Rate
Adams 683 948 1.39
Arapahoe 958 1314 1.37
Broomfield 93 160 1.72
Denver 1144 2107 1.84
Douglas 591 1196 2.02
Jefferson 756 1000 1.32
Total 4,225 6,725 1.59

 

Active Listing for the (6) County Metro Area:

  • April 26th: 6,725 and 1.59 Months of Inventory
  • April 12: Spring Break
  • April 5th: Spring Break
  • March 29th: 6,060 and 1.56 Months of Inventory
  • March 22nd: 6,007 and 1.63 Months of Inventory
  • March 8th: 6,048 and 1.74 Months of Inventory
  • March 2nd: 5,886 and 1.95 Months of Inventory
  • February 1st: 5,694 and 2.13 Months of Inventory
  • January 25th
  • January 18th
  • January 13th: 5,766 and 1.89 Months of Inventory
  • January 4th: 5,605 and 1.69 Months of Inventory
  • December 29th: 5,739 and 1.60 Months of Inventory
  • December 22nd: 6,015 and 1.74 Months of Inventory
  • December 15th: 6,564 and 1.87 Months of Inventory
  • December 7th: 6,890 & 1.95 Months of Inventory
  • November 30th: Thanksgiving
  • November 16th: 7,943 & 1.93 Months of Inventory
  • November 2nd: 8,304 & 2.03 Months of Inventory
  • October 26th: 8415 & 2.07 Months of Inventory
  • October 19th: 8,418 & 2.12 Months of Inventory
  • October 12th: 8,414 & 2.05 Months of Inventory
  • October 5th: 8,292
  • September 28th: 8,304
  • September 21st: 8,191
  • September 14th: 8,057
  • September 7th, 7,815
  • August 31st: 7,631
  • August 24th: 7,741
  • August 17th: 7,747
  • August 10th: 7,659
  • August 3rd: 7,538
  • July 27th: 7,563
  • July 20th: Vacation
  • July 13th: Vacation
  • July 6th: 6,907
  • June 29th: 6,975
  • June 15th: 6,733
  • June 1st: 6,122
  • May 25th: 5,799
  • May 18th: 5,924
  • May 11th: 5,579
  • May 04th: 5,446
  • April 27th: 5,188
  • April 13th; 5,063

Special thanks to Megan Aller at First American Title for the following video.  What does a “normal” look like?  In this week’s market update video we look at the question; are we in a bubble?

Statistics produced from ReColorado:  Looking for market stats relating to your specific neighborhood?  Click Here

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