Normally by September, metro Denver’s housing market has cooled off and started buttoning down for the off-season. But nothing is normal about this year.
The region broke September records for the most homes put under contract, most homes sold, shortest time on the market, lowest inventory and highest median home price, according to a report Monday from the Denver Metro Association of Realtors.
“This translates into the toughest market to buy a house in Denver Metro’s history,” Andrew Abrams, chairman of the DMAR Market Trends Committee and a Denver real estate agent said in comments accompanying the monthly Market Trends Report.
Supply was especially tight for single-family homes, with only 3,041 active listings on the market at the end of September. That is 53.4% lower than the inventory available a year ago and 8% lower than in August. September’s previous record low inventory was 5,693.
Condo and townhome supply wasn’t