At the end of March, there were approximately 5,200 active listings on REcolorado.com, Denver’s MLS. (We won’t have the exact count until next week.) That is the lowest figure in the last five years, as shown in this chart:
However, that’s not the full story. Each month for most of the last 2 years, the number of homes sold — 3,233 in Feb. 2015 — has been higher than the same month in previous years going back to 2010.
The number of new listings for this past February (4,566) was higher than the previous February, but new listings can’t keep up with the number of sales.
The National Association of Realtors says that the bidding wars we are seeing will not end soon.