DENVER (KDVR) — The amount of homes for sale across the Front Range remains at record lows.
The situation is so dire, there are currently more realtors working in Colorado than there are homes for sale.
In the seven county metro area, which includes the cities of Boulder, Broomfield and Denver, the inventory of active listings is down nearly 80% compare to this same time last year.
While on the flip side, there are roughly 22,000 realtors working in our state.
“Typically a new realtor tends to deal with more buyers than they do sellers. And working with buyers right now is incredibly challenging and it’s heartbreaking because it is so hard to find them a home and then when you finally do you’re one of many, many offers,” explained Kelly Moye, a spokesperson with the Colorado Association of Realtors.
There are only 2,000 homes available for sale along Colorado’s Front Range as of mid-April.
In March of 2020, there were nearly 10,000 homes available for sale, according to the Colorado Association of Realtors.
Even with the average sales price of homes in the metro-area up about 20% to roughly $653,000, plenty of folks are choosing not to sell, despite knowing they can make a huge profit.
“Last year we were lamenting about how we didn’t have the inventory and couldn’t think it could possibly get lower, but it certainly did!” Moye said.