Thousands of new homes for sale came on the market last month in the Denver area. But many sellers saw their homes scooped up at an extraordinary pace.
In all, 4,000 homes were put up for sale in January, marking a 62 percent increase from December. But, surprisingly, that did little to alleviate the historically low inventory of homes. That’s because buyers didn’t let houses sit for very long. In fact, on average, a home was on the market in Denver for 39 days. That was 17 days less than a year earlier.
The velocity of the housing market in Denver is unusual. Long time real estate agents point to a thriving economy, and a booming population. Buyers have also become savvy, monitoring web listings, and swooping in on a home soon after it’s listed for sale.