According to the Denver Post, Denver’s housing inventory is the lowest it’s been in 32 years. Even with a surge of new construction condo inventory, there’s still a significant shortage of homes available to purchase in the metro-Denver area.
The pickings are slim and it remains a seller’s market. In a twisted loop, the lack of inventory discourages potential sellers from listing their homes because of the difficulty to find a replacement home, making the inventory even tighter and discouraging even more sellers from listing.
Last month prices continued their sharp ascent. The median price of a single-family home sold in metro Denver was $394,000 in February, up 11.4 percent from a year ago. The average price of a single-family home sold was $447,838, an increase of 8.6 percent from a year ago.
The graph below for Littleton Stony Creek shows a similar statistic. Although there was a time not too long ago when there was no Stony Creek inventory on the market, compared to the amount of people moving into the Denver metro Denver area, there is still a low amount of inventory to support the needs of people that are moving.
Based on information from Metrolist®, Inc. DBA RECOLORADO® for the period 3/7/2007 through 3/7/2017 Note: This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.
Most likely Denver will see more houses come on the market with the start of spring but I’m sure the demand for houses will continue to be high. If you are looking to buy or sell your home in the Denver area, Just Call Julie! I can help! 720-260-1180
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