More Inventory, But Still Tough for Buyers

The local real estate market has seen a significant increase in active listings as compared with last year. However, that number remained low at the end of February, with only 4,100 active listings in metro Denver. Inventory is expected to remain short throughout the spring, making it a challenging time for buyers.

Despite challenges in the market, the number of properties under contract in February was only down 8.5% from last year, and average prices are still increasing slowly, with a 2.83% increase from last year.

Days on market have significantly increased from last year, at an average of 45 days to sell a home. There has also been a significant shift in the sale-to-list ratio, with an average discount of 1.85%, compared to last year’s 2.13% premium. This difference in sales price can help make up for the recent increase in interest rates. Overall, although inventory is low, buyers and sellers can still make deals in the current market.

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