Inventory Update for the week of April 24th 2023

A look at Unsold Homes with an MLS status of Active.

There are 4,326 Denver area homes available for sale this week, up 1.91% from last week. 37.6% of those for sale have reduced prices and have spent an average of 93 days in the MLS compared to 42 days from homes without.

The number of price reductions has been dropping since November 2^nd. 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 too. At the start of 2023

, the average days in MLS peaked at 83 days. This week that number is 62 days. The trends are positive.