Denver Home Listings Are Declining - Denver CO (October 2011)
Active housing inventory for lower-priced homes and condos IS DECLINING. This is particularly true of the middle to lower price ranges, especially those under $400,000. This trend continues even though sales have slowed significantly last month.
What is most interesting for the Metro Denver real estate market over the past 30 days is that condo sales under $100,000 doubled last month, which dropped inventories significantly. And, overall active listing inventories are contining to decline, despite a seasonal slowing of home sales.
These graphs illustrate that the time it takes to sell a home is getting shorter for homes and condos priced in the mid to lower price ranges. Higher priced homes are still taking much longer to sell.
SINGLE FAMILY HOMES
Active Listing Inventory Under $400,000 Is Declining.
CONDOS, TOWNHOMES, LOFTS
Active Listing Inventory Under $300,000 Is Declining.
COMBINED ACTIVE LISTING INVENTORY
Inventory has reached it's lowest level in 5 YEARS RUNNING.
The charts above are based upon "averages." Some homes will sell more quickly, and others may take much longer. The actual results you experience is determined by 1) your price; 2) your location; 3) your appeal; 4) the marketing program of your real estate agent.
RULE OF THUMB BY PRICE RANGE:
- Sellers Market = less than 4 months supply of homes
- Balanced Market = 4 to 7 months supply of homes
- Buyers Market = over 7 months supply of homes
SEARCH ALL DENVER HOMES HERE
Average Home Prices