Data. It's what we need, but don't always listen to.
For the past 6 months, I have been feeling like a bit of steroetypical used car sales man, telling clients that the data I was seeing indicated a stronger. I was seeing movements in the reduction of days on market, reductions in home inventory, and the very subjective metric: multiple offers on foreclosed (bank owned homes). Now, the National Association of Realtors® has put together some data, that indicates Denver is one of the top five most probable for appreciation in 2008.
The data shown below would tend to indicate that, too. Many more markets in which I focus are now moving from Buyer's Markets to Neutral to Seller's Markets. This is great news for the beleaguered metro area.
You can see the study by going to http://www.MileHighHomeHunter.com and clicking on Nat'l Assoc of Realtors - Denver Study in the top left of the navigation bar. Or you can click here: http://www.milehighhomehunter.com/Denver_20_Housing_20_Market_20_Overview.html to be transported directly. The study is password protected, so choose the "Read Only" option when opening it.
Welcome to Denver, Home of "2008 Sure Looks Great!"
If you know of anyone looking to buy or sell a home in the Denver area, I am never too busy for your referrals.
Kind regards,
Michael Clarkson
For the past 6 months, I have been feeling like a bit of steroetypical used car sales man, telling clients that the data I was seeing indicated a stronger. I was seeing movements in the reduction of days on market, reductions in home inventory, and the very subjective metric: multiple offers on foreclosed (bank owned homes). Now, the National Association of Realtors® has put together some data, that indicates Denver is one of the top five most probable for appreciation in 2008.
The data shown below would tend to indicate that, too. Many more markets in which I focus are now moving from Buyer's Markets to Neutral to Seller's Markets. This is great news for the beleaguered metro area.
You can see the study by going to http://www.MileHighHomeHunter.com and clicking on Nat'l Assoc of Realtors - Denver Study in the top left of the navigation bar. Or you can click here: http://www.milehighhomehunter.com/Denver_20_Housing_20_Market_20_Overview.html to be transported directly. The study is password protected, so choose the "Read Only" option when opening it.
Welcome to Denver, Home of "2008 Sure Looks Great!"
If you know of anyone looking to buy or sell a home in the Denver area, I am never too busy for your referrals.
Kind regards,
Michael Clarkson
| Market Trend Analysis - Denver Metro Selected Towns/Cities | |||||||||||||||||||
| Based on information from Metrolist, Inc. for the period August 28, 2007 until Sepetember 28, 2007. | |||||||||||||||||||
| Single Family Residences Between $100k and $1,000k | |||||||||||||||||||
| 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 | |||||||||||||||||||
| 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 | 617 | 1,455 | 121.3 | 5.1 | Seller's Market | 135 | Seller's Trend | 11% | | ||||||||||
| Broomfield | 330 | 825 | 68.8 | 4.8 | Seller's Market | 66 | Buyer's Trend | -4% | | ||||||||||
| Castle Rock | 796 | 1,319 | 109.9 | 7.2 | Buyer's Market | 151 | Seller's Trend | 37% | | ||||||||||
| Denver | 4,491 | 7,931 | 660.9 | 6.8 | Buyer's Market | 859 | Seller's Trend | 30% | | ||||||||||
| Erie | 196 | 301 | 25.1 | 7.8 | Buyer's Market | 38 | Seller's Trend | 51% | | ||||||||||
| Golden | 473 | 703 | 58.6 | 8.1 | Buyer's Market | 70 | Seller's Trend | 19% | | ||||||||||
| Highlands Ranch | 330 | 902 | 75.2 | 4.4 | Seller's Market | 74 | Buyer's Trend | -2% | | ||||||||||
| Lafayette | 95 | 226 | 18.8 | 5.0 | Seller's Market | 14 | Buyer's Trend | -26% | | ||||||||||
| Lakewood | 616 | 1,430 | 119.2 | 5.2 | Seller's Market | 139 | Seller's Trend | 17% | | ||||||||||
| Littleton | 1,039 | 3,093 | 257.8 | 4.0 | Seller's Market | 234 | Buyer's Trend | -9% | | ||||||||||
| Louisville | 30 | 105 | 8.8 | 3.4 | Seller's Market | 11 | Seller's Trend | 26% | | ||||||||||
| Northglenn | 208 | 438 | 36.5 | 5.7 | Neutral Market | 48 | Seller's Trend | 32% | | ||||||||||
| Parker | 770 | 1,651 | 137.6 | 5.6 | Neutral Market | 126 | Buyer's Trend | -8% | | ||||||||||
| Superior | 37 | 138 | 11.5 | 3.2 | Seller's Market | 8 | Buyer's Trend | -30% | | ||||||||||
| Thornton | 831 | 1,596 | 133.0 | 6.2 | Neutral Market | 179 | Seller's Trend | 35% | | ||||||||||
| Westminster | 647 | 1,273 | 106.1 | 6.1 | Neutral Market | 125 | Seller's Trend | 18% | | ||||||||||
| Wheat Ridge | 147 | 303 | 25.3 | 5.8 | Neutral Market | 32 | Seller's Trend | 27% | | ||||||||||
| | | | | | | | | ||||||||||||
| Total of Selected Towns & Locales | 11,653 | 23,689 | 1,974.1 | 5.9 | Neutral Market | 2,309 | Seller's Trend | 17% | | ||||||||||
| | | | | | |||||||||||||||
| Total MetroList* | 21,947 | 33,672 | 3,367.2 | 6.5 | Buyer's Market | 3,677 | Seller's Trend | 9% | |||||||||||
| * Single Family Residences Only | |||||||||||||||||||
| http://www.MileHighHomeHunter.com | |||||||||||||||||||
| http://www.MileHighForeclosure.com | |||||||||||||||||||
| http://www.CashPathRealEstate.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. |
Posts
