{"id":4227,"date":"2024-02-01T08:22:47","date_gmt":"2024-02-01T15:22:47","guid":{"rendered":"https:\/\/nexsteprealestate.com\/?p=4227"},"modified":"2024-02-16T10:20:53","modified_gmt":"2024-02-16T17:20:53","slug":"denver-metro-6-county-inventory-count","status":"publish","type":"post","link":"https:\/\/nexsteprealestate.com\/denver-metro-6-county-inventory-count\/","title":{"rendered":"Denver Metro 6 County Inventory Count"},"content":{"rendered":"<p><span data-reactid=\".0\"><strong>Market Fun Facts (02\/09\/24)<\/strong>: Happy New Year!\u00a0 As we move into the spring months what will the real estate market look like?\u00a0 To answer this question NeXstep continues to monitor inventory levels across the 6 County Denver Metro. For the first time in 4 months we see a slight increase in inventory levels; active listings are up by 91 listing for a total of 5,332 active homes for sale<\/span><span data-reactid=\".0\">.\u00a0 Although sold homes dropped by 68 sold homes this past month to a total of 2,588 sold units.\u00a0 Absorption rates remain relatively unchanged decreasing from 2.09 to 1.96 months.\u00a0 Interestingly, last year it took until June before we saw in increase in inventory.\u00a0 Is this an indication that buyers are coming back to the market despite higher interest rates?\u00a0 Jefferson county remains the lowest absorption rate at 1.57 months and Denver county has the highest rate at 2.42 months. Denver County leads with the most active listings at 1,335 and Broomfield County continues to have the fewest listings at 123.\u00a0 Current publications indicate a balanced real estate market would need a minimum of 18,000 listings.\u00a0 <\/span><span data-reactid=\".0\">Thinking about selling&#8230;<a href=\"https:\/\/nexsteprealestate.com\/about-us\/\">let&#8217;s talk<\/a>!<\/span><\/p>\n<p><strong>What do these numbers mean?<\/strong> 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.\u00a0 Looking at our sold numbers over the past month allows us to calculate a monthly absorption rate.\u00a0 An absorption rate tells us how many months it would take to sell off our entire inventory should we have no new listings.\u00a0 A balanced market is considered 6 months.<\/p>\n<table style=\"height: 255px;\" width=\"419\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" width=\"78\"><strong>County<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>Sold<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>Active<\/strong><\/td>\n<td width=\"117\"><strong>Absorption Rate<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Adams<\/td>\n<td style=\"text-align: center;\">487<\/td>\n<td style=\"text-align: center;\">1150<\/td>\n<td style=\"text-align: center;\">2.36<\/td>\n<\/tr>\n<tr>\n<td>Arapahoe<\/td>\n<td style=\"text-align: center;\">556<\/td>\n<td style=\"text-align: center;\">1071<\/td>\n<td style=\"text-align: center;\">1.93<\/td>\n<\/tr>\n<tr>\n<td>Broomfield<\/td>\n<td style=\"text-align: center;\">86<\/td>\n<td style=\"text-align: center;\">123<\/td>\n<td style=\"text-align: center;\">1.43<\/td>\n<\/tr>\n<tr>\n<td>Denver<\/td>\n<td style=\"text-align: center;\">552<\/td>\n<td style=\"text-align: center;\">1335<\/td>\n<td style=\"text-align: center;\">2.42<\/td>\n<\/tr>\n<tr>\n<td>Douglas<\/td>\n<td style=\"text-align: center;\">473<\/td>\n<td style=\"text-align: center;\">971<\/td>\n<td style=\"text-align: center;\">2.05<\/td>\n<\/tr>\n<tr>\n<td>Jefferson<\/td>\n<td style=\"text-align: center;\">434<\/td>\n<td style=\"text-align: center;\">682<\/td>\n<td style=\"text-align: center;\">1.57<\/td>\n<\/tr>\n<tr>\n<td><strong>Total<\/strong><\/td>\n<td style=\"text-align: center;\">2,588<\/td>\n<td style=\"text-align: center;\">5,332<\/td>\n<td style=\"text-align: center;\">1.96<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<p style=\"text-align: left;\"><strong>A weekend full of distractions due to a snowy Saturday and Super Bowl Sunday<br \/>\n<\/strong>February, 2024<\/p>\n<p>As we navigate through the dynamics of the Metro Denver real estate market, I wanted to share some insights from the past week, February 7th to 13th, 2024, to keep you informed and ahead in your strategies.<\/p>\n<p>Despite a snowy Saturday and the Super Bowl festivities, the market displayed resilience, particularly at lower price points. Interestingly, while the activity in homes priced above $1,000,000 saw a pause, the enthusiasm among other buyers remained unaffected.<\/p>\n<p>The average daily active listings remained relatively stable, with a minor uptick, reflecting a balanced presence of opportunities in the market. We observed a slight decrease in new listings compared to the previous week, yet when juxtaposed with the same period last year, there&#8217;s a notable increase. This subtle shift indicates a consistent interest in the market, despite a slight dip in pending transactions, which can be attributed to the weekend&#8217;s distractions. The equilibrium between listings entering and exiting the market suggests a steady pace, though the decrease in homes listed as coming soon hints at fewer new choices in the immediate future.<\/p>\n<p>The Odds of Selling experienced a minimal decrease, aligning us slightly below the historical average for February. This indicator provides us with a nuanced understanding of market expectations and selling probabilities.<\/p>\n<p>Our analysis also reveals a significant gap to reach a balanced market, with the current inventory significantly below the ideal threshold for a 6-month supply. This insight is crucial for advising clients on strategy and timing.<\/p>\n<p>Showings experienced a decrease from the previous week, with a resultant impact on the average showings required to secure a contract. The reduction in the rate of price reductions, alongside a smaller average discount from the original price, offers a nuanced view of current pricing strategies and market reception.<\/p>\n<p style=\"text-align: center;\"><strong><em>Special thanks to Megan Aller with First American Title for the market stats\/narrative.<\/em><\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Fun Facts (02\/09\/24): Happy New Year!\u00a0 As we move into the spring monts what will the real estate market look like?\u00a0 To answer this question NeXstep continues to monitor inventory levels across the 6 County Denver Metro. For the first time in 4 months we see a slight increase in inventory levels; active listings are up by 91 listing for a total of 5,332 active homes for sale.\u00a0 Although sold homes dropped by 68 sold homes this past month to a total of 2,588 sold units.\u00a0 Absorption rates remain relatively unchanged decreasing from 2.09 to 1.96 months.\u00a0 Interestingly, last year it took until June before we saw in increase in inventory.\u00a0 Is this an indication that buyers are coming back to the market despite higher interest rates?<\/p>\n","protected":false},"author":7,"featured_media":3357,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"categories":[44,47,45,48,46,98,34,53,51,50],"tags":[66,88,77,72,67],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Denver Metro 6 County Inventory Count - NeXstep Real Estate Group<\/title>\n<meta name=\"description\" content=\"Market Fun Facts (02\/09\/24): Happy New Year!\u00a0 As we move into the spring monts what will the real estate market look like?\u00a0 To answer this question NeXstep continues to monitor inventory levels across the 6 County Denver Metro. For the first time in 4 months we see a slight increase in inventory levels; active listings are up by 91 listing for a total of 5,332 active homes for sale.\u00a0 Although sold homes dropped by 68 sold homes this past month to a total of 2,588 sold units.\u00a0 Absorption rates remain relatively unchanged decreasing from 2.09 to 1.96 months.\u00a0 Interestingly, last year it took until June before we saw in increase in inventory.\u00a0 Is this an indication that buyers are coming back to the market despite higher interest rates?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nexsteprealestate.com\/denver-metro-6-county-inventory-count\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denver Metro 6 County Inventory Count - NeXstep Real Estate Group\" \/>\n<meta property=\"og:description\" content=\"Market Fun Facts (02\/09\/24): Happy New Year!\u00a0 As we move into the spring monts what will the real estate market look like?\u00a0 To answer this question NeXstep continues to monitor inventory levels across the 6 County Denver Metro. For the first time in 4 months we see a slight increase in inventory levels; active listings are up by 91 listing for a total of 5,332 active homes for sale.\u00a0 Although sold homes dropped by 68 sold homes this past month to a total of 2,588 sold units.\u00a0 Absorption rates remain relatively unchanged decreasing from 2.09 to 1.96 months.\u00a0 Interestingly, last year it took until June before we saw in increase in inventory.\u00a0 Is this an indication that buyers are coming back to the market despite higher interest rates?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nexsteprealestate.com\/denver-metro-6-county-inventory-count\/\" \/>\n<meta property=\"og:site_name\" content=\"NeXstep Real Estate Group\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-01T15:22:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-16T17:20:53+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/nexsteprealestate.com\/wp-content\/uploads\/2016\/10\/AdobeStock_3120383.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2673\" \/>\n\t<meta property=\"og:image:height\" content=\"1019\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ryan Sondrup\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ryan Sondrup\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nexsteprealestate.com\/denver-metro-6-county-inventory-count\/\",\"url\":\"https:\/\/nexsteprealestate.com\/denver-metro-6-county-inventory-count\/\",\"name\":\"Denver Metro 6 County Inventory Count - NeXstep Real Estate Group\",\"isPartOf\":{\"@id\":\"https:\/\/nexsteprealestate.com\/#website\"},\"datePublished\":\"2024-02-01T15:22:47+00:00\",\"dateModified\":\"2024-02-16T17:20:53+00:00\",\"author\":{\"@id\":\"https:\/\/nexsteprealestate.com\/#\/schema\/person\/299a4f62ee98ef564d008bdb696d732d\"},\"description\":\"Market Fun Facts (02\/09\/24): Happy New Year!\u00a0 As we move into the spring monts what will the real estate market look like?\u00a0 To answer this question NeXstep continues to monitor inventory levels across the 6 County Denver Metro. For the first time in 4 months we see a slight increase in inventory levels; active listings are up by 91 listing for a total of 5,332 active homes for sale.\u00a0 Although sold homes dropped by 68 sold homes this past month to a total of 2,588 sold units.\u00a0 Absorption rates remain relatively unchanged decreasing from 2.09 to 1.96 months.\u00a0 Interestingly, last year it took until June before we saw in increase in inventory.\u00a0 Is this an indication that buyers are coming back to the market despite higher interest rates?\",\"breadcrumb\":{\"@id\":\"https:\/\/nexsteprealestate.com\/denver-metro-6-county-inventory-count\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nexsteprealestate.com\/denver-metro-6-county-inventory-count\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nexsteprealestate.com\/denver-metro-6-county-inventory-count\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nexsteprealestate.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Denver Metro 6 County Inventory Count\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nexsteprealestate.com\/#website\",\"url\":\"https:\/\/nexsteprealestate.com\/\",\"name\":\"NeXstep Real Estate Group\",\"description\":\"Denver Area Real Estate\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nexsteprealestate.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nexsteprealestate.com\/#\/schema\/person\/299a4f62ee98ef564d008bdb696d732d\",\"name\":\"Ryan Sondrup\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nexsteprealestate.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/baf39a21267f149ab67f4fb6769e951f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/baf39a21267f149ab67f4fb6769e951f?s=96&d=mm&r=g\",\"caption\":\"Ryan Sondrup\"},\"url\":\"https:\/\/nexsteprealestate.com\/author\/ryan\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Denver Metro 6 County Inventory Count - NeXstep Real Estate Group","description":"Market Fun Facts (02\/09\/24): Happy New Year!\u00a0 As we move into the spring monts what will the real estate market look like?\u00a0 To answer this question NeXstep continues to monitor inventory levels across the 6 County Denver Metro. 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