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Denver Area Housing Market Remains Strong
Days on market, or the number of days a home takes to sell, dropped to 26 days—the lowest point in a decade. Although the number of active listings increased seven percent over last month, overall inventory levels are lower than the same period last year, a sign of a sellers’ market. Currently there is a supply of approximately 7 weeks of inventory. “Denver area homes continue to sell at a rapid pace and at almost 100 percent of asking price, a testament to a strong housing market,” said KirbySlunaker, president and CEO ofMetrolist. “Inventory levels remain tight in the Denver metro and surrounding area, showing strong demand and a competitive marketplace.” The pace of home sales cooled slightly in July. The number of new homes that went on the market dropped five percent month over month, and saw a three percent decrease as compared to this time last year. Listings that went under contract decreased four percent month over month, but were up five percent year over year.
Marc Blitstein has been a licensed Real Estate Agent since 2004. Real estate experience has been in employee relocation, residential property, short sales, investment property, and bank owned property....
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Everything You Know About Denver’s Real Estate Market Is Wrong Well, maybe not everything. But thanks to scant housing inventory, massive population growth, and still-low interest rates, buying