Denver Market Continues to Tighten - Median Price Housing Shortage Looms?

Is Denver facing a housing shortage?  Well, maybe not a comprehensive shortage, but one where it counts – right in the market sweet spot, the median priced home.

Over the past few months Denver has been acting counter cyclically to the national market. If you read my monthly blog, accessible from my site, www.MileHighHomeHunter.com , you know that I have been saying the local market is tightening in the sub-$300k price point.

Inventories this month are tight again:

·         Up to $100k – 2.8 months of inventory

·         $100k to $200k – 4.2 months of inventory

·         $200k to $300k – 5.1 months of inventory

·         All are improvements over last month AND all are inventories that are 1/5 to ½ of the national months of inventory, depending on the price point viewed.

For more information, go to my blog at MileHighHomeHunter.com.

Denver – A Mile High and Never Coming Down!

Michael Clarkson

The Mile High Home Hunter

 

 

Market Trend Analysis - Denver Metro Selected Towns/Cities
Based on information from MetroList, Inc. for period July 10, 2008 to August 7, 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
(How Calculated)		A		B	C = B/12	D = A/C		E		F = A/E
Price Range		Active	% of Market	Sold in Past 12 Months	Sold Per Month	Months of Inventory	Current Activity Status	Curr Month Under Contract	Near Term Sales Trend	Months of Inventory if Current Month Activity Level Continues
$             -	$   100,000	885	4.30%	3,764	314	2.8	Seller's Market	872	Seller's Trend	1.0
$   100,001	$   200,000	3,920	19.03%	11,251	938	4.2	Seller's Market	1,929	Seller's Trend	2.0
$   200,001	$   300,000	4,662	22.63%	10,868	906	5.1	Seller's Market	1,420	Seller's Trend	3.3
$   300,001	$   400,000	3,206	15.56%	5,450	454	7.1	Buyer's Market	694	Seller's Trend	4.6
$   400,001	$   500,000	2,152	10.45%	2,502	209	10.3	Buyer's Market	377	Seller's Trend	5.7
$   500,001	$   600,000	1,318	6.40%	1,302	109	12.1	Buyer's Market	196	Seller's Trend	6.7
$   600,001	$   700,000	957	4.65%	716	60	16.0	Buyer's Market	97	Seller's Trend	9.9
$   700,001	$   800,000	751	3.65%	436	36	20.7	Buyer's Market	61	Seller's Trend	12.3
$   800,001	$   900,000	522	2.53%	327	27	19.2	Buyer's Market	38	Seller's Trend	13.7
$   900,001	$1,000,000	449	2.18%	188	16	28.7	Buyer's Market	24	Seller's Trend	18.7
$1,000,001	No Upper Boundary	1,776	8.62%	662	55	32.2	Buyer's Market	86	Seller's Trend	20.7
Total (Seasonally Adjusted)*		20,598	100.00%	37,466	3,122	6.6	Buyer's Market	5,794	Seller's Trend	3.6
Total (NOT Seasonally Adjusted)**		19,788	xx	xx	4,154	4.8	Seller's Market	4,764	Seller's Trend	4.2
http://www.MileHighHomeHunter.com
http://www.MileHighForeclosure.com
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.
* Uses 12-trailing months' average to smooth out the effects of Denver's purchase season (60% Apr - Sep; 40% Oct - Mar).
** Uses raw data to show the impact of current levels of purchases on current levels of supply.  This causes substantial seasonal swings in months of inventory. MetroList cutoff date may likely differ from date of data shown above.