Folks:
This month marked a sea change in the Denver market, the overall market moved to a Buyer's Market. Though trending overall to a Seller's Market, it appears that an increase of 1,457 listings swung the market from 5.7 months of inventory to 6.1 months of inventory. You will note that the 12-month moving average homes sold increased this month by 4%, which is an encouraging sign.
As I have shared with clients, the market appears to have mildly swung to a Buyer's Market; a lot of folks, it appears discouraged from years of a sluggish market, are once again putting their homes on the market. Unfortunately, it is at a faster pace than the market can absorb right now. That market absorption being reduced as a result of the sharply rising interest rates.
For more information about your market, please contact me at mj@milehighhomehunter.com
Michael Clarkson
RE/MAX Alliance - Westminster
This month marked a sea change in the Denver market, the overall market moved to a Buyer's Market. Though trending overall to a Seller's Market, it appears that an increase of 1,457 listings swung the market from 5.7 months of inventory to 6.1 months of inventory. You will note that the 12-month moving average homes sold increased this month by 4%, which is an encouraging sign.
As I have shared with clients, the market appears to have mildly swung to a Buyer's Market; a lot of folks, it appears discouraged from years of a sluggish market, are once again putting their homes on the market. Unfortunately, it is at a faster pace than the market can absorb right now. That market absorption being reduced as a result of the sharply rising interest rates.
For more information about your market, please contact me at mj@milehighhomehunter.com
Michael Clarkson
RE/MAX Alliance - Westminster
| Market Trend Analysis - Denver Metro Selected Towns/Cities | |||||||||||
| Based on information from Metrolist, Inc. for the period May 13, 2007 until June 13, 2007. | |||||||||||
| Excludes Housing Not Listed in MetroList | |||||||||||
| Note: Six Months of Inventory Tends to Indicate Neutral Market, Over 6 Months a Buyer's Market, Under 6 Months a Seller's Market | |||||||||||
| 6 | |||||||||||
| 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 | 657 | 1,480 | 123.3 | 5.3 | Seller's Market | 216 | Seller's Trend | 75% | | | |
| Aurora | 2,763 | 4,384 | 365.3 | 7.6 | Buyer's Market | 636 | Seller's Trend | 74% | | | |
| Broomfield | 420 | 793 | 66.1 | 6.4 | Buyer's Market | 142 | Seller's Trend | 115% | | | |
| Castle Rock | 885 | 1,305 | 108.8 | 8.1 | Buyer's Market | 241 | Seller's Trend | 122% | | | |
| Centennial | 563 | 1,456 | 121.3 | 4.6 | Seller's Market | 218 | Seller's Trend | 80% | | | |
| Denver | 4,415 | 8,330 | 694.2 | 6.4 | Buyer's Market | 1,351 | Seller's Trend | 95% | | | |
| Erie | 220 | 296 | 24.7 | 8.9 | Buyer's Market | 44 | Seller's Trend | 78% | | | |
| Golden | 454 | 746 | 62.2 | 7.3 | Buyer's Market | 107 | Seller's Trend | 72% | | | |
| Highlands Ranch | 238 | 796 | 66.3 | 3.6 | Seller's Market | 132 | Seller's Trend | 99% | | | |
| Lafayette | 82 | 218 | 18.2 | 4.5 | Seller's Market | 28 | Seller's Trend | 54% | | | |
| Lakewood | 605 | 1,467 | 122.3 | 4.9 | Seller's Market | 207 | Seller's Trend | 69% | | | |
| Littleton | 1,214 | 3,196 | 266.3 | 4.6 | Seller's Market | 467 | Seller's Trend | 75% | | | |
| Louisville | 38 | 117 | 9.8 | 3.9 | Seller's Market | 14 | Seller's Trend | 44% | | | |
| Northglenn | 207 | 465 | 38.8 | 5.3 | Seller's Market | 54 | Seller's Trend | 39% | | | |
| Parker | 822 | 1,676 | 139.7 | 5.9 | Seller's Market | 228 | Seller's Trend | 63% | | | |
| Superior | 51 | 145 | 12.1 | 4.2 | Seller's Market | 25 | Seller's Trend | 107% | | | |
| Thornton | 897 | 1,587 | 132.3 | 6.8 | Buyer's Market | 237 | Seller's Trend | 79% | | | |
| Westminster | 672 | 1,340 | 111.7 | 6.0 | Buyer's Market | 173 | Seller's Trend | 55% | | | |
| Wheat Ridge | 139 | 338 | 28.2 | 4.9 | Seller's Market | 44 | Seller's Trend | 56% | | | |
| | | | | | | | | ||||
| Total of Selected Towns & Locales | 15,342 | 30,135 | 2,511.3 | 6.1 | Buyer's Market | 4,564 | Seller's Trend | 82% | |||
| http://www.MileHighHomeHunter.com | |||||||||||
| http://www.MileHighForeclosure.com | |||||||||||
| http://www.HomesInColorado.com/mclarkson | |||||||||||
| 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. | |||||||||||
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