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!

October 2010 Denver Stats: Home Prices Up, Sales Down

Sales of existing homes in the Denver area dropped 28 percent in October, to 2,842 from 3,958 in the same month of 2009, according to Metrolist Inc. data released Wednesday.

But average sold price for such homes was up 9.6 percent for the same period, to $261,750 from $238,807.
Sales of existing homes — which are homes that have sold at least once and also are called resale homes — were higher in October 2009 than last month partly because the federal government’s $8,000 first-time homebuyer tax credit still was in effect last year. The first-time buyer credit, along with a $6,000 credit for existing homeowners wanting to buy a different home added in November 2009, expired April 30 of this year.

Metrolist data includes both standard houses and condominiums. Greenwood Village-based Metrolist is metro Denver’s Multiple Listing Service for homes that are for sale.

Other existing home sale data for October:

• Standard houses alone, also called single-family detached homes, sold for $287,048 on average, up 9.66 percent from $261,771 in October 2009.

• Average days a home stayed on the market for sale rose to 104 from 93 for the same month last year.

• Inventory of existing homes for sale increased 12.75 percent to 21,360 last month from 18,945 year over year.

For this year’s first 10 months, roughly 26,200 existing houses sold for a total of $7.41 billion, according to Metrolist data released by Re/Max Alliance of Arvada. Average sold price for the period was $282,819.
The plains area of Boulder County had the highest average selling price of $650,053, followed by the city of Boulder, with $609,638.

By comparison, some 28,000 existing houses sold in 2009’s first 10 months for a total of $7.38 billion and an average of $263,328.

Nearly 7,000 existing condos sold in 2010’s first 10 months, for a total of $1.1 billion and an average of $160,186.

January through October 2009, nearly 7,500 condos sold for $1.19 billion and $160,382 on average.

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Compiled by the DBJ’s Paula Moore

August Denver-metro home statistics

3,079 home sales closed in the metro area in August 2010


23,615 homes in inventory

6.4 Months of inventory, meaning we are in a buyer's market


- Prices have remained fairly stable. The median price for homes sold in August was $239,900, compared with $240,000 in July and $227,000 in August 2009.


- The median price of condos sold rose to $130,000 in August from $129,000 in July but is down from a median sales price of $144,500 a year ago.
 
Sales have slowed down alot since the tax credit expired, but that is just making seller's more desperate to sell, and giving buyers more leverage to buy, especially at 4% interest rates, which will save you about $25,000 over the life of the loan... much more than $8,000.
 
Click here for more trends!!

Trends

We noticed that the average sales price iS region AUN (Aurora North) and DSW (Southwest Denver) increased in June. After significant declines in 2006 and 2007, prices were generally stable in 2008. Prices are now edging upwards in these distressed areas!