Discover more from Real Estate By the Numbers by Steve Danyliw
Inventory Update for the Week of March 15th
A look at Unsold homes with an MLS status of Active.
There are 4,107 Denver area homes available for sale this week, up 5.61% from last week. 35.7% of those for sale have reduced prices and have spent an average of 108 days in the MLS compared to 42 days from homes without. #dmarstats #housing #denver #realtors #colorado #realty
The number of price reductions has been dropping since November 2nd. At that point, we were at 58.4%. This demonstrates that the market is adjusting to the changing economic conditions.
Additionally, days in MLS have been dropping. At the start of 2023, the average days in MLS peaked at 83 days. This week that number is 65 days. The trends are positive.
Let’s add a little context. At this point last year only 15.5% of the Active inventory had a price reduction and the average Days in MLS were 28 days.