Denver's tight housing market has morphed into a version of "The Hunger Games," with buyers scrounging for whatever weapons they can find to remain the last bidder standing. "Everything is flying off the shelf," said Chad Ochsner, a broker with Re/Max Alliance in Arvada. "We are used to a market where the buyer has a house to sell. It is now a market where a seller does not have a house to buy."
The National Association of Realtors considers a six-month supply of homes available for sale a "balanced" market and the national average is at about 4.6 months.
Metro Denver's supply, by contrast, is now under a month. And for homes under $400,000, it can be measured in days.
"Denver is an extreme case," said Danielle Hale, director of housing statistics with the National Association of Realtors in Washington, D.C.
How extreme? About half of homes getting listed sell within seven days, said Heather Heuer, managing broker with PorchLight Real Estate Group in Denver. Read More
