The Denver Metro Association of Realtors (DMAR) released its May 2021 report, and while it is an extreme seller’s market in the Metro Denver area, closings are still happening, up 18.78 percent, despite active listings being down 4.11 percent year-to-date from 2020. At the same time, the report showed that closings are up 18.78 percent, an extreme statistic that shows how the pandemic shutdown impacted the real estate industry last year at this time and also supports the concept of increased buyer demand.

For most of the year, we’ve seen less demand for attached housing, with most buyers opting for detached, single-family homes. That all changed in May as buyers took notice and moved on a relative opportunity in the attached market creating the lowest month-end active inventory on record, with only 739 properties available to sell.

The report also showed how the transition in month-end active inventory from April to May has been consistent for the past 13 years. Each report always concludes that month-end active inventory goes up, even if it is as few as 41 properties in 2011 to as many as 1,879 in 2019. In 2021, each month’s data indicates it is not the case. Month-end active inventory not only went down last month, but it went down 20.01 percent. This stat can be explained by two things: overall listings are down, and buyer demand is up. With competition continuing across all price ranges and static inventory scarce, it is likely records will continue to be broken in this hot market.

Though competition is fierce, becoming a homeowner in Denver is an attainable goal. The first thing you want is an experienced pro on your side who can help you find your way. Give Metrowest a shout today – we’d love to help you start the process!