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September resulted in 'toughest market to buy a house in Denver metro's history'

Low inventory and high competition are now staples of the Denver-area housing market.

DENVER — Low inventory and high competition have been staples of the Denver-area housing market since it rebounded in early summer.

The market continued to break records in those categories last month, when the number of active listings dipped to its lowest point for any September on record by more than 2,000 properties, according to the latest monthly report from the Denver Metro Association of Realtors.

"This translates into the toughest market to buy a house in Denver metro's history," said Andrew Abrams, chair of the DMAR Market Trends Committee and owner of brokerage firm A-Squared Real Estate.

There were just 3,041 detached single-family homes available for sale in the 11-county metro at the end of the month, shattering the previous low of 5,693 on record for September.

Single-family detached homes spent a median of just six days in the MLS, a decrease of three days from the previous low for September.

Continue reading at the Denver Business Journal.

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