To Receive Valuable Denver Real Estate Information Like This Article Monthly - Simply Sign-up Below!

GREATER METROPOLITAN DENVER MARKET UPDATE

JANUARY, 2012

Market Metrics:

Active Listings inventory continues to decline, 13% month over month and 40% year over year. Under Contract activity and Closed transactions activity remained seasonal with a continual decline month over month. The New Year starts with renewed hope that 2012 will be better than 2011. Wishing you and yours a Happy and Prosperous New Year.

Monthly Market Recap:

Single Family:                                                            Condos:
Active Inventory is 8,854 units at month end                        Active Inventory is 2,139 units at month end

Sold units is 2,531                                                      Sold units is 625

Average Days on Market is 107                                 Average Days on Market is 106

Median Sold Price is $230,000                                   Median Sold Price is $120,700

Average Sold Price is $275,610                                  Average Sold Price is $166,420

December Year-to-Date Market Recap (2011 versus 2010):

Single Family:                                                            Condos:

Active Inventory 8,854 versus 13,941 (↓36%)           Active Inventory 2,139 versus 4,316 (↓50%)

Sold Units 31,437 versus 30,777 (↑2%)                     Sold Units 7,950 versus 8,041 (↓1%)

Median Price $230,000 vs $235,000 (↓2%)                Median Price $124,900 vs $136,000 (↓8%)

Average Price $279,858 vs $282,080 (↓1%)             Average Price $159,141 vs $161,005 (↓1%)

Sales Volume $8.8B versus $8.7B (↑1%)                   Sales Volume $1.2B versus $1.3B (↓2%)

Days on Market 105 versus 90 (↑17%)                       Days on Market 116 versus 98 (↑18%)

Days on Market:

By definition, Days on Market is calculated as the number of elapsed days from the original listing date to the status change date. Therefore if a home is listed for sale on January 2^nd and the seller(s) accept an offer on January 22^nd, the Days on Market for this property is 21 days at this point in time.

Days on Market is one of several metrics that are used to follow the market trends.

Real estate is local. While the above is a representation of the Denver market as a whole, please contact a RE/MAX Professional to better understand your specific real estate market.

Advice to Sellers:

Welcome to 2012. What changes can one expect in 2012? 

The year will start with the lowest inventory of unsold homes in a decade plus.

New home builders will have new models emphasizing efficiency, lifestyle, and a smaller footprint. For some sellers, this will be competition that has not been seen for several years.

External influences will continue to impact the market; such as, employment, economy, and consumer confidence.

As a home seller, one must keep in mind that with the beginning of 2012:

Housing will be on the minds of many, because lots of people will be seeking housing.

Rising rental rates will cause more to look at home ownership.

Low rental vacancy rates will cause more to look at home ownership.

Historically low mortgage rates will cause more to look at home ownership.

Overall, affordable housing prices will cause more to look at home ownership.

Is it a good time for your home to be on the market? Contact your RE/MAX Professional to discuss the options available to sell your home during 2012.

CALL YOUR RE/MAX PROFESSIONAL TODAY!

Advice to Buyers:

The number of active listings, those homes available for sale, continues to be the lowest it has been in years. Prioritize your needs and wants and look at what is available in the market. 

Rents continue to rise in the Denver market and home prices continue to stabilize.

Talk to your RE/MAX Professional today about your Lifestyle preferences, the benefits of home ownership, and home affordability.

CALL YOUR RE/MAX PROFESSIONAL TODAY!

©2012 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed