Real Estate

Buying a home in Denver: 'Truly a seller's market'

Katie Iacovella, CNBC producer

Denver is home to eight Fortune 500 companies, including Molson Coors, DaVita HealthCare and Chipotle. All those workers need to live somewhere.

Snapshot of Denver real estate

CNBC's "Power House" spoke to Larry Hotz, broker with The Kentwood Company, for his perspective on the Denver housing market.

"It's a difficult time for buyers right now. It's truly a seller's market in Denver. We have declining inventory and increasing sales," Hotz said.

Swapan Jha | Moment Open | Getty Images

According to Metrolist, a listing service for the state of Colorado, the average number of days on the market for a Denver metro listing in May was 28, with the number of homes for sale just over 6,000.

In this video, Hotz shines his spotlight on the Denver suburb of Lakewood, where listings range from $685,000 to $1,450,000.

—By CNBC's Katie Iacovella