According to Denver Business Journal and Metrolist Data, the Denver housing supply dropped considerably during the November time frame to its lowest point in years. This decrease continued the trend that we have seen over the past few months.
Denver housing inventory for November was down 10 percent from October and down 30 percent from the same month in 2010. The market has not seen an increase in housing inventory since last Spring.
The low inventory levels present quite the incentive for Denver sellers. Those that have a home in excellent condition can expect to receive better offers than even 30 days ago.
Denver homes and condos under contract were down 12 percent from October but up 9 percent from one year ago. The number of homes sold was down four percent for the month and up 15 percent year-over-year. Overall, these numbers are very positive when the seasonal drop-off is taken into account.
If you are planning to sell your Denver home in the Spring, you need to consider listing it as soon as possible to take advantage of the lowest housing inventory that we have seen in years. Call me at 888-860-1931 for more information about selling your home in Denver.
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