Market Fun Facts (4/1/20): How is the COVID Crisis affecting our real estate market as record low inventory levels continue to dominate the narrative in Colorado – we continue to monitor inventory levels each Month in the 6 County Denver Metro Area. This month we are up for the first time in 2020 (+1,152) properties compared to this time last month. Sales have continued to remain strong and our absorption rate have remain steady at 1.40 months; compared to 1.19 last month. All six counties are under 2,000 total active listings with Denver County leading the Metro with 1,693 active listings and Broomfield County continues to have the fewest listings at 123 properties. Current publications indicate a balanced real estate market would need a minimum of 18,000 listings. See Megan Aller’s market update 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.
Weekly Video Update
We hope you enjoy the newest version of the Greater Metro Denver Market Review with Megan Aller.