A Closer Look at Inventory
1. The supply of homes has fallen from 35,000 to 5,000 since February 2011. That’s about an 85% drop.
2. The rate of inventory decline is dependent on the price. The lower the price the greater decline in inventory.
3. The number of available homes for sale in the luxury market is about the same as it was last year, but the number of homes under $400,000 is down 54%.
Make no mistake, the Denver real estate market is strong at all price points. It’s worth noting, however, that your negotiating power is dependent on the market in which you are buying or selling.
If you or anyone you know is considering purchasing or selling a home, we would be delighted to be of service.