Denver Real Estate Market - Metro Area
The Denver Metro Area had a unique month in Real Estate. Though many have varying opinions, to me, this month appears to be at a point of inflection. - Month to month volume stayed the same for the markets sampled, 384 more homes appeared in MetroList
- The 12 month trailing average sales per month stayed static.
- Most bothersome, was that the under contract volume - though higher than the 12 month average solds per month - did drop by 725 or -15.8% which is a dramatic month-to-month drop during the busier Summer Season in Denver Real Estate.
- Though trending stronger overall, a 15.8% drop is statistically notable.
- As a point of reference, in the Denver Metro Area approximately 60% of transactions occur between April and September, 40% occur between October and March. So, Denver is a seasonal market.
- In the opinion of the author, it appears the mortgage crisis is adversely affecting what was a firming up of the local market.
Market Trend Analysis - Denver Metro Selected Towns/Cities | | | | Based on information from Metrolist, Inc. for the period July 3, 2007 until August 3, 2007. | | Single Family Residences Between $100k and $1,000k | | 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 | | | | | | | | | | | | | | | | | | | | | 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 | 705 | 1,474 | 122.8 | 5.7 | Seller's Market | 169 | Seller's Trend | 38% | | Aurora | 2,810 | 4,337 | 361.4 | 7.8 | Buyer's Market | 551 | Seller's Trend | 52% | | Broomfield | 405 | 814 | 67.8 | 6.0 | Seller's Market | 103 | Seller's Trend | 52% | | Castle Rock | 876 | 1,339 | 111.6 | 7.9 | Buyer's Market | 208 | Seller's Trend | 86% | | Centennial | 584 | 1,467 | 122.3 | 4.8 | Seller's Market | 176 | Seller's Trend | 44% | | Denver | 4,593 | 8,264 | 688.7 | 6.7 | Buyer's Market | 1,122 | Seller's Trend | 63% | | Erie | 202 | 289 | 24.1 | 8.4 | Buyer's Market | 44 | Seller's Trend | 83% | | Golden | 504 | 735 | 61.3 | 8.2 | Buyer's Market | 100 | Seller's Trend | 63% | | Highlands Ranch | 219 | 854 | 71.2 | 3.1 | Seller's Market | 101 | Seller's Trend | 42% | | Lafayette | 88 | 215 | 17.9 | 4.9 | Seller's Market | 24 | Seller's Trend | 34% | | Lakewood | 641 | 1,482 | 123.5 | 5.2 | Seller's Market | 170 | Seller's Trend | 38% | | Littleton | 1,231 | 3,134 | 261.2 | 4.7 | Seller's Market | 391 | Seller's Trend | 50% | | Louisville | 38 | 107 | 8.9 | 4.3 | Seller's Market | 22 | Seller's Trend | 147% | | Northglenn | 214 | 449 | 37.4 | 5.7 | Seller's Market | 46 | Seller's Trend | 23% | | Parker | 814 | 1,674 | 139.5 | 5.8 | Seller's Market | 193 | Seller's Trend | 38% | | Superior | 49 | 146 | 12.2 | 4.0 | Seller's Market | 22 | Seller's Trend | 81% | | Thornton | 913 | 1,588 | 132.3 | 6.9 | Buyer's Market | 214 | Seller's Trend | 62% | | Westminster | 697 | 1,336 | 111.3 | 6.3 | Buyer's Market | 150 | Seller's Trend | 35% | | Wheat Ridge | 143 | 335 | 27.9 | 5.1 | Seller's Market | 33 | Seller's Trend | 18% | | | | | | | | | | | | Total of Selected Towns & Locales | 15,726 | 30,039 | 2,503.3 | 6.3 | Buyer's Market | 3,839 | Seller's Trend | 53% | | | | | | | | | | | | 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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Michael Clarkson
RE/MAX Alliance
Erie, CO
Office Phone: (303) 403-2641
Cell Phone: (303) 332-6393
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