Metro Denver Housing Market Remains Tight

Dated: 10/04/2017

Views: 293

Denver remains one of the tightest residential real estate markets in the country, with homes continuing to sell quickly.


By  – Contributing Writer

Updated

Metro Denver remains one of the tightest residential real estate markets in the country, with homes continuing to sell quickly.

According to the latest Re/Max housing report, Denver homes stayed on the market for only 24 days. Only in Omaha and Seattle, at 21 days, did homes stay on the market for fewer days. The national average was 47 days.

And there continues to be less inventory for sale in Denver. Re/Max reported that there's only a 1.4 month supply of home inventory in Denver, with only San Francisco (1 month) and Seattle (1.3 months) lower. According to Re/Max, a 6 months supply indicates a market balanced equally between buyers and sellers; nationally right now, there's a 3.1 month supply.

Commenting on the national trends, Re/Max co-CEO Adam Contos said in a statement that"the data shows that home hunters continue to experience very limited inventory and increased competition, and home sellers are benefiting from quick sales for top dollar."

Colorado-based Re/Max (NYSE: RMAX) said its monthly report is based on MLS data in approximately 54 metropolitan areas.

Late last month, it was reported that home prices are still rising in metro Denver at a pace faster than most cities, according to the monthly S&P/Case-Shiller Home Prices Indices report.

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Jason McLaughlin

Jason has lived in the Golden and Arvada area for more than 25 years attending Golden High School and then later gaining a Bachelors of Science Degree in Organizational Leadership and Emergency Manage....

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