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. About half of homes getting listed sell within seven days. "If a property is on a market for three weekends in this market at any price point under $400,000, then it is overpriced," she said. A balanced market would call for 7,332 detached homes available for sale in the $200,000-$399,000 price range in the metro Denver area, PorchLight estimates. But at the end of February, there were only 723 available in a seven-county area that includes Elbert County but excludes Boulder County. In the under-$199,000 market for attached homes, primarily condos and townhomes, metro Denver had 181 listings for sale in February versus the 2,652 that a "balanced" market would dictate.
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