Wednesday, October 26, 2011
Tuesday, October 25, 2011
Tuesday, October 18, 2011
GREATER METROPOLITAN DENVER MARKET UPDATE
September historically marks the end of Denver’s prime home selling/buying market with seasonally adjusted transactions when comparing month over month. Of note is the fact that the month end inventory of active listings in total is 15,533 homes at month end. This is a new low for the last thirteen months and numbers that we have not seen since 2003.
Monthly Market Recap:
Active Inventory is 12,613 units at month end
Sold units is 2,610
Average Days on Market is 99
Median Sold Price is $229,804
Average Sold Price is $280,289
Active Inventory is 2,920 units at month end
Sold units is 727
Average Days on Market is 127
Median Sold Price is $128,950
Average Sold Price is $159,980
September Year-to-Date Market Recap (2011 versus 2010):
Active Inventory 12,613 versus 17,625 (↓28%)
Sold Units 23,956 versus 23,933 (↔)
Median Price $229,970 vs $230,000 (↔)
Average Price $281,782 vs $282,416 (↔)
Sales Volume $6.8B versus $6.8B (↓1%)
Days on Market 106 versus 86 (↑23%)
Active Inventory 2,920 versus 5,255 (↓44%)
Sold Units 6,024 versus 6,353 (↓5%)
Median Price $124,900 vs $134,000 (↓7%)
Average Price $158,761 vs $160,280 (↓1%)
Sales Volume $1.0B versus $0.9B (↓6%)
Days on Market 120 versus 91 (↑32%)
With the end of the prime home selling and home buying market for the Greater Metropolitan Denver area, what can one expect for the remaining months of 2011?
The Active Inventory count in units will continue to decrease as well as the monthly number of both under contract and closed transactions. This does not mean that the market has gone away or will go away; but, rather that the market continues in a seasonally adjusted basis.
With the extremely low inventory that we have not seen in years, homes that are on the market through Fall and Winter will have a greatly increased chance to sell!