At the end of October, Denver had a record low of homes and condos available for sale, approximately 6,312. The Denver Metro Association of Realtors said this shortage is causing home prices to rise and a slowdown in the pace of sales.
Typically for this time of year, the number of listings drops 4.7 percent between September and October. The Denver Post reports that this year's seasonal decrease was 16.8 percent.
Although those kind of price increases may suggest a hot market, agents in the metro area report more sellers are willing to come down from their listing prices to close a deal. And listings are taking longer to sell. The number of days a single-family home spent on the market in October versus September jumped 20 percent to 36.
