The subprime fallout has hurt the market, but not as much as one would expect.
This month, three markets surveyed showed Buyer's trends: Highlands Ranch, Lafayette and Superior. In all three instances, the current month under contract fell below the twelve month trailing average sales per month. However, all three of those markets were still relatively strong. Highlands Ranch has only 3.9 months of inventory, the lowest of the towns surveyed. Superior was just slightly behind with 4.0 months of inventory. Lafayette was just slightly below the 6 month mark, at 5.8 months of inventory. It has enjoyed a strong market in the preceeding month.
Overall, the Denver market seems to be firming up. Click on the following link to hear RE/MAX CEO Margaret Kelly speak about our market on CNBC on September 21, 2007. http://www.cnbc.com/id/20624975/site/14081545 The months of inventory tends to be stable to shrinking over the past several months. Denver, itself, is trending stronger, with a 38% increase in "Current Month Under Contract" homes vs. the 12-month trailing average.
For more information about Denver, visit http://www.MileHighHomeHunter.com
Kind regards,
Michael Clarkson
REALTOR®
RE/MAX Alliance - Westminster
Locale | Active Listings | Prior 12 Months Sold | Sold per Month (Avg) | Months of Home Inventory (MOI) | Current Market Condition | Under Contract This Month | Current Month Vs. Annual Sold per Month | Under Contract vs. 12 Mo. Sold |
Arvada | 688 | 1,456 | 121.3 | 5.7 | Neutral Market | 154 | Seller's Trend | 27% |
Broomfield | 375 | 815 | 67.9 | 5.5 | Neutral Market | 92 | Seller's Trend | 35% |
Castle Rock | 843 | 1,355 | 112.9 | 7.5 | Buyer's Market | 138 | Seller's Trend | 22% |
Denver | 4,748 | 8,169 | 680.8 | 7.0 | Buyer's Market | 942 | Seller's Trend | 38% |
Erie | 196 | 311 | 25.9 | 7.6 | Buyer's Market | 35 | Seller's Trend | 35% |
Golden | 534 | 733 | 61.1 | 8.7 | Buyer's Market | 79 | Seller's Trend | 29% |
Highlands Ranch | 290 | 885 | 73.8 | 3.9 | Seller's Market | 66 | Buyer's Trend | -11% |
Lafayette | 109 | 224 | 18.7 | 5.8 | Neutral Market | 14 | Buyer's Trend | -25% |
Lakewood | 635 | 1,464 | 122.0 | 5.2 | Seller's Market | 172 | Seller's Trend | 41% |
Littleton | 1,185 | 3,128 | 260.7 | 4.5 | Seller's Market | 315 | Seller's Trend | 21% |
Louisville | 30 | 111 | 9.3 | 3.2 | Seller's Market | 16 | Seller's Trend | 73% |
Northglenn | 219 | 444 | 37.0 | 5.9 | Neutral Market | 45 | Seller's Trend | 22% |
Parker | 841 | 1,689 | 140.8 | 6.0 | Neutral Market | 154 | Seller's Trend | 9% |
Superior | 46 | 137 | 11.4 | 4.0 | Seller's Market | 11 | Buyer's Trend | -4% |
Thornton | 847 | 1,612 | 134.3 | 6.3 | Neutral Market | 210 | Seller's Trend | 56% |
Westminster | 677 | 1,305 | 108.8 | 6.2 | Neutral Market | 133 | Seller's Trend | 22% |
Wheat Ridge | 158 | 307 | 25.6 | 6.2 | Neutral Market | 33 | Seller's Trend | 29% |
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Total of Selected Towns & Locales | 12,421 | 24,145 | 2,012.1 | 6.2 | Neutral Market | 2,609 | Seller's Trend | 30% |
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Total MetroList | 21,683 | 36,903 | 3,075.3 | 7.1 | Buyer's Market | 4,055 | Seller's Trend | 32% |
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