Still Spring Break
Several school districts around Metro Denver were still on Spring Break last week slowing pending and showing activity. Overall this week we had approximately 3,690 units for sale heading into last weekend, down -0.8% WOW and pending units were also down -0.4% WOW with 1014 units going under contract. Months supply of inventory remained tight at 0.8 months. The odds of selling dropped to 64%, down from it's peak 66.3% in the first week in March. With 14,238 showings set last week active listings averaged 3.9 showings and it was approximately 14 showings to go under contract. Median DOM held at 8, and has consistently stayed here for the last 3 weeks. Of the units that went under contract last week 25.2% reduced their price for an average of -4.9% from the original price or $35,409.
