The new year has arrived and people are curious about what is going to happen to the Denver real estate market in 2021. To predict what might happen in the coming 12 months, we took a look at the November snapshot from the Denver Metro Association of Realtors.
You can see the number of active listings right now at the end of November was 3,415. This was down about 50% from where it was this time last year. If you take a look at the last 20-30 years or so, the normal amount of inventory is around about 14,000 homes. This means we are running on a very small number of homes and condos being available for sale. There is a sense of scarcity because of this, which in turn, is causing prices to go up.