Year-over-year inventory levels continue to be low, home prices are up and average days on market (DOM) for Denver-area homes is down, making for a prime sellers' market according to the latest reports from Metrolist®.
Since July of last year, the number of available homes on the market has continued to shrink. At the close of January, there were only 7,094 homes for sale, which is 8 percent fewer than December figures. While January numbers typically reflect a seasonal slow down, average sale prices remained up 11 percent from this time last year.
"The time is now for sellers who have been waiting to put their home on the market," said Kirby Slunaker, CEO and President of Metrolist. "Prices are back up to pre-recession levels and homes that have been priced appropriately are receiving multiple bids and closing at much faster rates."