From The Denver Post:
Key Excerpt:
While housing data released earlier this month showed Denver with 5.7 months of inventory — considered a normal market — the figure is skewed by the number of upper-end homes on the market, according to Metrolist data analyzed by Lon Welsh, managing broker of Your Castle Real Estate.
There is 31 months of inventory for $1 million-plus homes, while there's just 2.7 months of inventory for those priced under $100,000, making competition stiffer on the lower end of the price spectrum.
We're seeing homes under $200,000 move very, very quickly. Our agents are doing better than the average of 8 offers per closing mentioned in the article, but 2-3 offers per client is not unheard of.
Subscribe