Denver home inventory even tighter than it appears, Redfin report finds

By
Real Estate Agent with HomeSmart Realty FA100038258

Denver Business Journal - Homes in Denver that are considered "stale," meaning they've sat on the market for more than 30 days, comprise about half of the listings on the market, according to a new Redfin report.

Seattle-based real estate brokerage Redfin Corp. (which also has a large office in Denver) analyzed the home inventory shortage and determined that nationwide 70 percent of homes for sale were stale.

But in Denver, inventory of homes in Denver are so low overall that listings of "fresh" homes, homes that just recently went on the market, abnormally accounted for a larger share of inventory last month, the report said. Read More at Denver Business Journal

 

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Comments (4)

Virtual Realty Consultants
Virtual Realty Consultants LLC - Wellesley, MA
Making the American Dream a Reality

Since when is 30 days "stale?" A balanced market is considered 180 days. Anything less is a seller's market (low inventory of homes - fast turnover); absorption rates greater than six months indicate a buyer's market (oversupply of homes). I don't think Redfin is going to change the way economists look at absorption rates or how the rest of the industry looks at inventory. Days on Market are only one measure of a market's health. I wouldn't necessarily look to a relative newcomer to the market to be changing the way we think.

Apr 27, 2015 02:03 PM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Interesting post.  We have low inventory but homes are averaging 92 DOM here in Phoenix.  It will be interesting going into the summer months.  We're busy in the desert from April through September!

Apr 27, 2015 02:04 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

When the going gets tough, thanks yourself, "what would John Elway do?" My friend Mike told me that one. A little levity. :)

Apr 27, 2015 02:06 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

In all seriousness and I hope for all the best for you, I'm sure it will bounce back with flying colors and steamers and unicorns! Be well and happy!

Apr 27, 2015 02:07 PM