According to a new study from Zillow, nearly three-quarters of homes that hit the market in Denver in April lasted less than a week before they were scooped up. The study found 74% of homes in Denver sold within a week in April, and 91% sold within a month. Denver was neck-and-neck with Columbus, Ohio, and Salt Lake City to be the U.S. market with the fastest home sales, with all three seeing more than 70% of homes off the market within a week.

Nationwide in April, 47% of U.S. homes were on the market for less than a week before going pending, and 76% were on the market for less than a month. Overall, 27 of the nation's 50 largest metro markets were seeing most homes under contract in less than a week, and homes going pending in less than two weeks increased in 49 out of the 50 markets.

All-cash offers tend to get the most attention but aren’t feasible for most buyers. Instead, house hunters might consider offering a higher down payment, more earnest money, submitting an offer before the review data or offering leaseback terms, Zillow said.

Lack of inventory was a big driver for the quickness of the market. In Denver, inventory was down 44.5% in April from a year ago, with 7,210 homes going on the market, according to Zillow data. But 69% of economists and experts surveyed said they expect inventory to begin growing again later this year or early in 2022, which would hopefully provide some much needed relief to the real estate market.

If you’re interested in becoming a homeowner in 2021, Metrowest can help. It’s a competitive market, but landing a house is possible. Whether you’re looking for downtown living or spreading out in the suburbs, give us a shout today – we’d love to help you start the process!