Number of Active Jeffco Listings on MLS Remains Low Despite Record Number of New Listings

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.

Author: Golden Real Estate, Inc.

Golden Real Estate is a prominent member of the Denver/Jefferson County real estate scene. Based in Golden, we service both Denver and Jeffco, representing both buyers and sellers. We're well known for Broker Jim Smith's weekly "Real Estate Today" column published in the Denver and Jeffco editions of the Denver Post's YourHub section each Thursday. The column also appears in several weekly newspapers and is archived at www.JimSmithColumns.com. We have nine agents, all of whom are Realtors and EcoBrokers. Our office is Net Zero Energy since December 2017, and several of us drive electrics cars. Known for our sustainable practices, we accept polystyrene (aka "Styrofoam") for recycling, keeping 200 cubic yards per year out of area landfills.

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