According to Metrolist, Colorado's largest MLS and the provider of REcolorado.com, limited supplies of housing inventory did not constrain Denver area residential home sales in November. Sales remained strong year over year and home prices increased once again.
In November, 6,566 active listings were on the market in the Denver metro and surrounding area, an 18 percent decrease as compared to last month, and a 27 percent year-over-year decrease. These numbers reflect inventory levels roughly half of what they were just three years ago.
œTight inventories that have been seen in the Denver area housing market for some time now showed no signs of easing in November, said Kirby Slunaker, president and CEO of Metrolist. œThe slowing in monthly home sales is likely due to market seasonality. Even with the month-over-month inventory declines, demand remains steady, which continues to drive sales.
Download a copy of the report here.
Watch this month's market report video, featuring Live Urban broker Heather Truhan, who visits Denver's LoHi neighborhood and its popular dining establishments, including Little Man Ice Cream.
Read more at ReColorado.com
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