Did you know that Denver is the fastest moving Real Estate market in the country right now? For the second straight month Denver once again had the lowest median age of inventory among metro areas country wide at a median of 32 days on the market. That is a 38.5% drop in the median year-over-year, the biggest drop amongst the 11 most active markets in the U.S. according to Realtor.com.
With an average day on market of 32 days, this is a great sign that the Denver market is strong and will continue to only improve as we push forward. This should be a clear message to sellers that now is a great time to sell and to buyers that are looking to take advantage of these great rates that when you find the right home, jump on it before it is gone. I have had two listings receive multiple offers and sell within the first week on the market in the past month so I can attest to this being reality and with rates below 4%, only going to continue.
Metros with lowest median age of inventory (July 2011)
| MSA | Median age of inventory (in days) | % yr.-over-yr. change | |
| 1) Denver, Colo. | 32 days | -38.5% | |
| 2) Oakland, Calif. | 46 days | -8.0% | |
| 3) Fresno, Calif. | 51 days | -23.9% | |
| 4) Shreveport-Bossier City, La. | 59 days | -15.7% | |
| 5) Bakersfield, Calif. | 62 days | -3.1% | |
| 6) San Jose, Calif. | 65 days | 1.6% | |
| 7) Stockton-Lodi, Calif. | 65 days | 1.6% | |
| 8) Anchorage, Alaska | 65 days | 0.0% | |
| 9) Boulder-Longmont, Colo. | 66 days | -12.0% | |
| 10) Detroit, Mich. | 67 days | -4.3% | |
| 11) San Francisco, Calif. | 67 days | 4.7% | |
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