Typically, the Denver metro market sees a slowdown as fall approaches, but as with so many things in 2020, this season has proved to be anything but normal.

According to the most recent report from the Denver Metro Association of Realtors (DMAR), 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.

The impact, it seems, is primarily targeting single-family homes as more and more buyers are looking for space to spread out. According DMAR’s market trends report, there were 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.

Condos, on the other hand, weren’t in as short supply with 2,260 listings available, which is still down 18.2% from a year earlier, but up 3.15% from August. Buyers closed on 5,850 homes and condos in September, down 10.76% from August and up 16.5% from September of last year.

While listings are flying off the shelves, sellers aren’t keeping pace with demand, but they haven’t disappeared entirely. According to DMAR, sellers listed 6,456 homes and condos in September, up 6.7% from the 6,050 listed a year earlier. That actually represents a record for September, but it wasn’t enough to keep up.

It may seem like options in the metro area are running out, but with the right team on your side there are still deals to be found. If you’re considering becoming a homeowner this fall, contact Metrowest – we’d love to help you start the process.