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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 (+405) properties for a total of 7,130.  Compared to this time last year we are up +1,942 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 remains unchanged at 1.59 months.  Denver County remains above the 2K listing count and continues to lead the Metro with 2,197 active listings and Broomfield County continues to have the fewest listings at 171 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 all 6 counties are under 2 months for the second time this year.  Jefferson County has the lowest absorption rates at 1.32 months while Douglas county replaces Denver County with the highest rate at 1.96 months.

County Sold Active Absorption Rate
Adams 703 1044 1.49
Arapahoe 1030 1394 1.35
Broomfield 107 171 1.60
Denver 1194 2197 1.84
Douglas 637 1247 1.96
Jefferson 817 1077 1.32
Total 4,487 7,130 1.59

 

Active Listing for the (6) County Metro Area:

  • April 26th: 7,130 and 1.59 Months of Inventory
  • April 19th: 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

Month of May Recorded Highest Housing Inventory in Metro Denver Since 2013 and Record-breaking Average Single-family Home Price

In May, there were 8,789 new listings, up 16.97 and 38.12 percent from the previous month and year, respectively. At month’s end, 6,470 homes went under contract, up 5.65 and 10.5 percent from April and last year, respectively. Notably, the average single-family home price reached a record-breaking $555,482.

“Even with all of those offers written and accepted, we still ended the month with 8,891 homes for sale,” said Jill Schafer, Chair of the DMAR Market Trends Committee and Metro Denver Realtor®. “That’s an important number to note. It’s the highest end-of-month number of active listings since November 2013 when buyers had 9,352 choices.”

For further perspective, inventory in the Denver-area real estate market was at 26,333 active listings in May 2008.

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

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