Strong Demand Causes Home Inventory Shortage Across Colorado

Despite a nearly 30 percent increase in new single-family and townhome/condominium listings from January to February 2017, Colorado’s housing market continues to battle record low inventory, according to the latest statewide housing report from the Colorado Association of REALTORS® (CAR).
The addition of 7,099 single-family listings and 2,228 new townhome/condominium listings, of which more than half were in the Denver-metro region, was matched by consistent statewide sales resulting in an 8 percent dip in the total inventory of active listings from January to February 2017. El Paso County has just a 1.1 month supply of available single family homes, pushing the average home price up over $25,000 to over $302,000. Local townhome prices have jumped an average of $23,000 to $192,199.