Denver housing market: 'Incredibly limited selection,' fewer homes for sale

seeing allot of the same that is shared in this bizjournals.com article...

If you're looking to buy a home in the Denver market these days, you know that pickings are slim right now.

How slim? The number of Denver-area homes for sale is down to its lowest level in over 30 years, according to Seattle online real estate company Redfin, adding there are 30 percent fewer homes for sale now than there were a year ago.

That means buyers are frustrated. “The Denver metro is seeing incredibly limited selection," said one Redfin broker, who added that it's "rare" for a house priced under $300,000 not to be purchased with all cash.

"You have a lot of pressure on the market, with multiple offers basically an expectation, particularly for those single-family homes in price ranges below $500,000. ... Homes in higher price points are also seeing strong competition, and even some $1 million and $2 million dollar homes in Boulder are seeing multiple offers. Competition at that price point used to be rare here, which shows just how hot the market is," said broker Corey Keach, in a statement.

How hot is the market? Yesterday the Denver Business Journal reported that homes in Denver are selling so fast after they hit the market, one real estate valuation company says they're "flying off the shelves."

Colorado-based Re/Max Holdings Inc. (NYSE: RMAX) reported earlier this month that the average days on market for homes sold in February in Denver was 38, trailing only San Francisco at 32 and Omaha, Nebraska at 34.