The record low “inventory” continues in Jefferson County, as it does elsewhere in the metro area and much of the country. Most analysts will tell you that it’s because sellers are keeping their homes off the market for one reason or another, but that’s not the truth.
The truth is that there are a record number of new listings each month, but they sell so quickly that the number of active listings doesn’t have the opportunity to increase. Here are Jeffco’s October’s stats compared to prior years:
I like to look at weekly statistics. As of this past Sunday, there were 524 active listings in Jeffco of single family homes, condos and townhomes. There were 189 new listings in the 7 days ending on Oct. 8th, but there were 195 closings, 132 of which had gone under contract in 7 days or less. In real estate parlance, that computes to under 3 weeks of inventory — 524 ÷ 195.
As of Sunday, there were 1,088 Jeffco homes under contract, more than twice the number of active listings, and 55% of them went under contract in 7 days or less.
About those 189 new listings between Oct. 2 and Oct. 8, 137 of them were under contract by Oct. 8th. That’s what I was saying — homes are coming on the market, but they sell right away.