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Homes in Denver are selling faster in some areas than others- it depends on the neighborhood, the inventory, and supply and demand. It was reported this week in the Denver Post that the inventory of homes in Denver from this year in October compared to last year in October is down over 20%- this helps with sellers being able to sell their homes. As they inventory is dropping, the Days on the Market (DOM) in some areas are also dropping. In some areas of Denver DOM is 86 days where other areas are 197 DOM. (data by Your Castle Realty map)
Part of this is determined by whether it is a $200,000 home or $1M plus home. The market of a $200,000 home is moving faster than the other areas.
So as inventory is dropping we should move closer to a seller’s market. But it also comes down to the home showing well, being staged, priced right and having a realtor that is going to work hard to get it sold.