Along the Front Range we have gone from two weeks of inventory to three weeks.
For much of the Spring, there was only two weeks of inventory on the market in most areas. Meaning, it would only take 14 days to sell all of the homes currently for sale.
Now, because the pace of sales has slightly slowed down and there is a bit more inventory, there is roughly three weeks.
We can actually measure inventory in number of days based on the pace of sales in July so far:
- Metro Denver = 23 Days
- Larimer County = 22 Days
- Weld County = 22 Days
This is obviously good news for buyers as they have better selection and slightly less competition.