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Low Inventory Prevails In The Denver-Metro Housing Market
Inventory continues to remain low for homes in the Denver market, according to the latest data from Denver’s Metrolist.
According to Metrolist, the number of home listings in July dropped 3% for houses and 4% for condos from June to July, adding stress to an already tight market. Perhaps partly as a consequence, sold properties were down 11% and 10% for homes and condos respectively over the same time period.
There was little change in the number of days properties spent on the market. Houses spent an average of 27 days on the market and condos 26 days.
One tiny glimmer of good news for buyers is that the average sold price for condos dropped from June to July – but only by 1%. Prices for houses remained the same as the previous month. Read More.
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(courtesy of RE/MAX of Cherry Creek)