In the residential real estate industry, inventory is typically measured in months.
For example, the definition of a “sellers’ market” is when there is less than 4 months of inventory on the market. Meaning, at the current pace of sales, it would take less than four months to sell all the homes currently for sale.
Today it makes more sense to measure inventory in days instead of months.
Here is the number of residential properties currently listed for sale in each market:
- Larimer County = 255
- Weld County = 261
- Metro Denver = 1,645
Here is the current pace of sales in each market:
- Larimer County = 10/day
- Weld County = 10/day
- Metro Denver = 112/day
So, at the current pace of sales, this is how long it would take to sell all the residential properties currently for sale in each market:
- Larimer County = 26 days
- Weld County = 27 days
Metro Denver = 15 days