Tuesday, January 19, 2010

December '09 Sold Prices Sky-Rocket over Dec '08 in Denver

Houses sold just last month sold at an average price of 17% higher than prices last December of '08 (from $240,900 to $281,700). This is yet more evidence that Denver, unlike other cities in the nation, is way passed bottom.
Some neighborhoods did even better than this, such as Denver Northeast and Southeast. Denver Northeast sold at 33% higher December of '09 than December of '08! And Denver Southeast sold at 22.4% higher. Denver Southwest was even higher at 24.7%!

These are significant numbers. That 22% in Denver Southeast actually means houses are selling for $80,000 MORE this December than last December! And thats 175 sales in Dec '09 vs 168 in Dec '08, so if anything Dec '09 is a more precise average with the more number of sales. Who says prices are still going down in Denver? These numbers are all across the board except for Broomfield(down 9% Dec '09 vs Dec '08) and Brighton(-2.8%).

Click here for MLS All Area Stats for December '09

2010 Denver Price Change Map!!

Here is the 4th Quarter '09 Denver neighborhood price change map. Not only does it show you average home price changes from the most recent 12 months to the previous 12 months (per neighborhood), along with the average days on market per neighborhood, it also shows you the number of solds, number of active short sales(which can significantly drive down average sold prices), and months of inventory per neighborhood. A good measure for months of inventory is 6 months: below 6 months usually means seller's have the advantage (less inventory, more competition), and above 6 months usually means a buyer's market (more inventory, more leverage for the buyer). Notice that many of the neighborhoods are below 6 months of inventory, meaning a SELLER'S, not buyer's, market.

Give me a call if you'd like to see different area maps! 720.987.8998