Real Estate By the Numbers by Steve Danyliw

Share this post

Inventory Update for the Week of May 10th 2023.

stevedanyliw.substack.com

Discover more from Real Estate By the Numbers by Steve Danyliw

Locally focused housing trends and market insights for the greater Denver Colorado area.
Continue reading
Sign in

Inventory Update for the Week of May 10th 2023.

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

Steve Danyliw
May 10, 2023
Share this post

Inventory Update for the Week of May 10th 2023.

stevedanyliw.substack.com
Share

There are 4,610 Denver area homes available for sale this week, up 5.52 percent from last week. 39.7 percent of those for sale have reduced price and have spent an average of 87 days in the MLS compared to 41 days from homes without.

The percentage of listings with a price reduction increased to 39.7 percent from 37.3 percent last week. For some added context, the week of November 9th, 2022, 58.4 percent of the active inventory had a price reduction, and the percentage has been slowly dropping. Prior to the market downturn and about the same time last year only 19.6 percent of the inventory had a price reduction.    

Days in MLS have been dropping too. At the start of 2023 the average days in MLS, for the active inventory, peaked at 83 days. This week that number is 59 days. The trend is positive, but we still have a way to go to match last year’s 29 days.  

Leave a comment

Share

 

Share this post

Inventory Update for the Week of May 10th 2023.

stevedanyliw.substack.com
Share
Comments
Top
New

No posts

Ready for more?

© 2023 Steven D. Danyliw
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing