Denver Metro Area Market Stats for March 2009

It has been a little while since I wrote my last blog. Since the March 2009 Denver Metro Area Market Intelligence has been released by Metrolist. I saw it as a great opportunity to keep you all informed as to how things are going in this market. The numbers tell the truth!

Here is an overall snapshot of what happened in the residential real estate market in March 2009 in the Denver Metro area:

Residential (excluding condos)

There were 15,584 Active listings in the MLS (Multiple Listing Service) for the month of March 2009. That number is up 2.34% from February ‘09, yet down -20.12% from a year ago – March ’08.

3,907 were Under Contract, which is up 16.56% from February ‘09, yet down -17.75% down from a year ago – March ’08.

There were 2,590 Sold properties. That number is up 28.98% from February ‘09, yet still down -12.23% from a year ago.

What does this all mean? It means that more and more properties are being put on the market, are going under contract, and are selling from February ’09, yet market activity is still down overall from this time in 2008.

The Avg DOM (average number of Days on the Market) was 106 days. This number is down -0.93% from February ’09 and -2.75% from a year ago. This means that properties are spending less time sitting on the market. This also means that on average, it is taking nearly 4 months, from initial listing to Under Contract status.

Finally, the Avg Sold Price was $251,583, which is an increase of 6.19% from a month ago in February ’09, yet is down -8.41% from a year ago. It seems that the market is still losing value. We may not be at the bottom yet!

Keep in mind this is for the entire Denver Metro Area. If you would like more information about a specific neighborhood, please contact me by email with the area you are interested in! Thanks!

All data was compiled from Metrolist, Inc on April 9, 2009

Andrew Cepeda

Realtor® and EcoBroker®

720.216.7617

andrewcepeda@gmail.com