The Home Hunter Blog - TheHomeHunterBlog.com: The Daily Dirt - March 2008 - Real Estate News Update from Michael Clarkson

Issue 08-03.03

March 2008

Denver Market Conditions March 2008

Dear Mile,

I apologize for sending such a high volume of emails this past few weeks, but SO MUCH is happening in our local market. I know you are busy with your lives, so in my effort to provide you the best information, I wanted to forward my lastest market condition report to you.

Denver Market Conditions as of March 2, 2008

For more information, please click to www.MileHighMLS.com

Well, it looks like warm weather (warmer than last year), lowered interest rates and increased showing activity brought people into the market, by the MEGATON!!!

Here are some of the highlights:

The overall market swung wildly from 5.7 months of inventory to 7.0 months of inventory. WOW!
HOWEVER, ALL markets surveyed below showed a Seller's Trend (which is based on the change in the current month vs. the 12 trailing months' historical average).

Overall, the Under Contract volume was up 62% compared to the 12 months' trailing monthly average.

Total Active Listings - UP 31.6%

February - 16,997
March - 22,382

The overall market composite shifted in the following manner:

	*Sellers'*	*Neutral*	*Buyers'*	*Total*
Feb-08	12	6	1	19
Mar-08	8	4	7	19
Chg	(4)	(2)	6	0

There were too many notable swings to be meaningful in such a short summary. However, here is a sample of the largest listing inventory changes:

Castle Rock - From 760 active listings in February to 1,070 in March
Denver - From 3,796 active listings in February to 5,062 in March
Golden - From 383 active listings in February to 608 in March
Greenwood Village - From 53 active listings in February to 162 in March
Highlands Ranch - From 334 active listings in February to 464 in March
Lakewood - From 508 active listings in February to 646 in March
Littleton - From 746 active listings in February to 1,011 in March
Parker - From 630 active listings in February to 877 in March
Westminster - From 557 active listings in February to 705 in March

Those are some HUGE changes!

For more information about your specific area, please contact me here.

*Market Trend Analysis - Denver Metro Selected Towns/Cities*

Based on information from Metrolist, Inc. for period February 2, 2008 until March 2, 2008.
Single Family Residences - All Price Levels
Excludes Housing Not Listed in MetroList

*Note: Six (5.5 to 6.5) Months of Inventory Tends to Indicate Neutral Market, Over 6.5 Months a Buyer's Market, Under 5.5 Months a Seller's Market*

					6
*Locale*	*Active Listings*	*12 Months Sold*	*Sold per Month (Avg)*	*Months Inventory (MOI)*	*Current* *Mkt State*	*Under Contract*	*Sales Trend*	*Sales Trend Chg.%*
Arvada	615	1,428	119.0	5.2	*Seller's Market*	172	*Seller's Trend*	*45%*
Aurora	2,514	4,709	392.4	6.4	*Neutral Market*	732	*Seller's Trend*	*87%*
Boulder	103	290	24.2	4.3	*Seller's Market*	38	*Seller's Trend*	*57%*
Broomfield	350	802	66.8	5.2	*Seller's Market*	89	*Seller's Trend*	*33%*
Castle Rock	1,070	1,399	116.6	9.2	*Buyer's Market*	157	*Seller's Trend*	*35%*
Denver	5,062	8,813	734.4	6.9	*Buyer's Market*	1,343	*Seller's Trend*	*83%*
Erie	209	307	25.6	8.2	*Buyer's Market*	47	*Seller's Trend*	*84%*
Golden	608	704	58.7	10.4	*Buyer's Market*	78	*Seller's Trend*	*33%*
Greenwood Village	162	160	13.3	12.2	*Buyer's Market*	14	*Seller's Trend*	5%
Highlands Ranch	464	969	80.8	5.7	*Neutral Market*	133	*Seller's Trend*	*65%*
Lafayette	77	197	16.4	4.7	*Seller's Market*	24	*Seller's Trend*	*46%*
Lakewood	646	1,414	117.8	5.5	*Seller's Market*	149	*Seller's Trend*	*26%*
Littleton	1,011	2,960	246.7	4.1	*Seller's Market*	250	*Seller's Trend*	1%
Louisville	22	100	8.3	2.6	*Seller's Market*	19	*Seller's Trend*	*128%*
Northglenn	200	406	33.8	5.9	*Neutral Market*	62	*Seller's Trend*	*83%*
Parker	877	1,645	137.1	6.4	*Neutral Market*	194	*Seller's Trend*	*42%*
Superior	31	127	10.6	2.9	*Seller's Market*	11	*Seller's Trend*	4%
Thornton	812	1,666	138.8	5.8	*Neutral Market*	272	*Seller's Trend*	*96%*
West-minster	705	1,280	106.7	6.6	*Buyer's Market*	173	*Seller's Trend*	*62%*
Wheat Ridge	168	294	24.5	6.9	*Buyer's Market*	41	*Seller's Trend*	*67%*

*Total of Selected Towns & Locales*	*15,706*	*29,670*	*2,472.5*	*6.4*	*Neutral Market*	*3,998*	*Seller's Trend*	*62%*

Total MetroList*	22,382	38,126	3,177.2	7.0	*Buyer's Market*	5,152	*Seller's Trend*	*62%*
* Single Family Residences Only

http://www.MileHighHomeHunter.com
http://www.MileHighForeclosure.com
http://www.HomesInColorado.com/mclarkson
http://www.MileHighMLS.com
http://www.CashPathRealEstate.com




Note: This representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by Metrolist, Inc. may not reflect all real estate activity in the market.