Click on the chart to make it larger.
A couple of things stand out when I took my first glance at this chart:
1. There are more “Seller’s Markets” than “Balanced or Buyer’s Markets” in the Denver Real Estate Market!
2. Only 97 Days on the Market
3. If we took out the distressed properties I wonder how much lower the days on market would be and I wonder how much lower the inventory would be! Why do I care? Because there are many buyers who do not want to wait months to hear from a bank and then wonder if they will ever be able to move in, they want to work with people who also want to move.
4. If you are thinking of selling, this is the time to start preparing. I will be doing a series on what to do to get your house sold in this market in the next couple weeks. Stay tuned. With hardly any competition, it is a great time to sell!
We are at an 11 year low in the Denver Metro Area housing inventory (15,794), we have less than half of the homes on the market than we did at our highest point in July 2006 when we had 31,989 units!
Remember this chart reflects the City and County of Denver and it is Residential units and does not include Condominium units. If you are interested in what is happening in your neighborhood (Denver or any of the surrounding neighborhoods), I’d be happy to run the numbers for you.
I’m looking forwarding to hearing from you!