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Report: Denver tied with Seattle for fewest available homes for sale

Posted at 12:15 PM, Mar 20, 2018
and last updated 2018-03-20 14:16:32-04

DENVER — The Mile High City continues to have one of the most competitive housing markets in the country with some of the lowest housing inventory.

According to the latest real estate market report from RE/MAX, Denver had about 4,200 active home listings in February. That amounts to about a month's worth of inventory, tying with Seattle for the smallest supply of available homes. San Francisco was close behind at 1.1 months' worth of supply.

As inventory dwindles, prices continue to rise - the median home price hit $399,000 last month, according to RE/MAX.

For comparison, the Denver Metro Association of Realtors put the median home price at $400,000 last month and the number of active listings at nearly 4,100.

RELATED: Metro Denver's median home price hits $400K in February; housing inventory on the rise

The inventory problem isn't unique to Denver or other hot real estate markets — RE/MAX said that active listings were down nearly 14 percent, on average, across the 52 markets it examined.