We are seeing a big jump in properties for sale as measured by months of inventory.
As a reminder, a market is considered balanced when there is between 4 and 6 months of inventory on the market. Meaning, at the current pace of sales, it would take 4 to 6 months to sell all of the properties currently for sale.
Inventory one year ago at this time was:
- 1 month in Northern Colorado
- 0.7 months in Metro Denver (3 weeks)
Today the inventory is:
- 2.3 months in Northern Colorado
- 2.3 months in Metro Denver
This represents a:
- 164% increase in Northern Colorado
- 245% increase in Metro Denver