2011 Denver Metro Trends

As a quick recap, last month (January 2011) total combined MLS Residential Statistics in the metro area (from the mountains to Aurora, and Fort Lupton to Lone Tree) had the following changes compared to January of 2010:

• Decrease in the Number of Closed Sales to 1,724 (down 6.4%)
• Average Days on Market increased to 120 days
• Number of Active Listings increased 5.2% to 13,714
• Absorption Rate increased to 8.1 months (up 21.4%)
• Average Sold Price increased (up 6.7 % from $260,530 to $277,922)

Beware though, that each price range differs dramatically. Here are the Months of Inventory stats (months of inventory are the number of months it would take for all the properties on sale right now to be sold at the current rate they're selling at right now). Below 6 months is considered a "Seller's market", and we're seeing that houses are selling at almost lightning speeds under $210,000, and average up to $315,000. Colorado is different than the rest of the nation! 

$0-$85,000            1 month of inventory

$85k-$135k          2.4 month of inventory

$135-$210           2.6 month of inventory

$210-$315           6 month of inventory

$315-$460           6.9 month of inventory

$460,000+           15 month of inventory

And if you take short sales (which are very long sales) out of the mix, the month of inventory are even LESS. 

Click here to see each city or area you're interested in!

Denver Market Stats: June 2010 vs. June 2009

As a quick recap, June 2010 combined MLS Residential Statistics had the following changes compared to June of 2009.

• Slight decrease in the Number of Closed Sales to 3,227 (down 3%)
• Average Days on Market reduced 19.8% to 81 days
• Number of Active Listings increased 9.8% to 17,337
• Absorption Rate increased to 5.1 months (up 7.5%%)
• Average Sold Price remains strong (up 5.7% from $283,312 to $299,375) compared to June, 2009.

TOTAL MLS Stats June

May 2010 MLS Stats vs. 2009

Here is a quick high-level recap of the May 2010 combined MLS Residential Statistics compared to May of 2009. Even after the expiration of the tax credit, the Denver area market is showing excellent signs:

• Increase in the Number of Closed Sales to 3,416 (up 19.6% for the month)
• Average Days on Market reduced 27.9% to 75 days
• Number of Active Listings increased 4.2% to 16,333
• Absorption Rate dropped to 4.6 months (down 15.3%)
• Average Sold Price remains strong (up 4.3% from $262,066 to $273,285) compared to May, 2009.

These are all very good signs for the market in the Metro Denver area and surrounding cities.

See ALL Metrolist areas

April 2010 vs. April 2009 Residential Stats

While individual areas vary, April 2010 combined MLS Residential Statistics had a number of positive indicators compared to April of 2009.

• Increase in the Number of Closed Sales to 3,308 (up 22.2% for the month)
• Average Days on Market reduced 22.5% to 79 days
• Number of Active Listings increased 1.3% to 15,843
• Absorption Rate dropped to 4.5 months (down 21.3%)
• Average Sold Price remains strong (up 7.8% from $254,442 to $274,253) compared to April 2009.

April 2010 stats are affected by the tax credit, however April 2009 was also during the tax credit.

See TOTAL MLS Stats

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Updated Denver Neighborhood Price Change Map!

If you would like to see other maps - Lakewood, Golden, Centennial, Arvada, Aurora, Littleton, Broomfield, Castle Rock, Thornton, Westminster, or Parker, send me an email at JonathanGhaly@TheDenverHouseGuy.com

January 2010 Denver Market Statistics

Prices in January of 2010 vs. 2009 continue to show the trend upwards, as they did in December. Average sold price out of the 1,841 single-family home closings in January 2010 was $260,530, $30,000 higher than the average sold price in January of '09, which was $230,878. This is a great trend for Denver and continues to show that prices are giong up all over the board (exceptions are Broomfield, Douglas, Lafayette, and snippets of Jefferson County North Central).

Total MLS Stats
All MLS Stats

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