If Denver sold all the houses available right now, with the normal pace of sales, it would take only about 1.7 months to sell them, according to the Denver Metro Association of Realtors.
That’s not great — a balanced market is one with about four to six months of housing available for sale. So when you go below that, it’s a seller’s market. But the imbalance of Denver has nothing on Greenwich, where there’s 33 months of inventory, according to Bloomberg.
That’s earned it the distinction of worst housing market in the county, at least according to the CNBC Institutional Investor Delivering Alpha Conference.
To add insult to injury, the area was once a “bastion of wealth.” And now, you “can’t give away” one of those $1.4 million median valued homes, one investor said recently.