Greg Smith

Rock Creek CO Home Sales Report

Superior Co homes sales are tied to Rock Creek Homes. The recent statistics are the strongest numbers we have seen in Rock Creek and Superior CO for the last two years. The Rock Creek Subdivision currently has 3.5 month of inventory on the market compared to 6.1 months of inventory in October 2008 and 4.7 months of Inventory in October 2007.

We are also beginning to see the median price of the properties sold is equal the current inventory on the market, which tends to indicate that Buyers and Seller have similar expectations in the market.

The next indicator to look at is the Average Days on market has jumped to 170 Days. This is a similar pattern that I saw when looking at the Louisville CO market a couple of days ago. This is a nice movement, since it says Buyers are beginning look at the stagnant inventory and determining it now makes sense. This of course can be the result of Sellers expectations becoming more realistic.

Between October 2007 and October 2008 we saw the median price of Homes in Superior and Rock Creek fall. The October 2008 to October 2009 shows nice trending upward in the last half of the year.

Overall Rock Creek is showing foundation for a strong market moving forward. When we combine this with the expanded Home Buyer Tax Credit through April of $6,500 and the fact that the employment rate in Boulder County has been strengthening Rock Creek is one of my best bets for appreciation in 2010.

Rock Creek Homes for Sale.

Louisville CO Homes and Market Update

Louisville Co is again beginning to see a drop in Supply and a increase in Demand. According to above charts we are showing only 3.5 months of inventory on the market. An interesting Trend is the Average days on market have risen from 60 days to 110. I know what you're saying "Greg this does not make sense if the market is getting stronger." Actually it does, when a market begins to turn. What we are seeing is Buyers are no longer waiting for the perfect new homes to come on the market. They are beginning to reach into the stagnant inventory and say "hey that house that did not make sense yesterday makes sense today." Soon we will see the lagging inventory also begin to diminish and Louisville, CO looks like it is in for a strong first quarter of 2010.

For a list of homes for sale in Louisville, CO just select the link.

RE/MAX Alliance Ads Four Great Agents.

Truly the greatest blessing beyond my family, is the opportunity I have to work with the best agents in the industry. Daily I have an opportunity to learn from group of agents that truly put the needs of their clients first. This month our RE/MAX Alliance Boulderoffice has the privilege to welcome four agents that exemplify what it means to be a Realtor and who I think will be true assets to our office for years to come. The four agents are Duane Caraballo, Roger Walker, Donald Cicchillo, and Charlie Tucker.

It is very exciting to watch the office grow both in the quality of agents, but also in market share. October just closed and our under contract number increased by 117% from October of last year. Truly incredible numbers. 2010 here we come!!

Median Price

Supply and Demand

Superior Housing market has shown upward trending for units closed and the median price for homes currently under contract is moving in a positive direction. Normally this time of year we would begin to see downward trending, but as is the case across Boulder County we are actually seeing numbers more in line with mid summer.

Allot of the activity is the result of the tax credit, but we also have to keep in mind Superior supports a higher average price and is not as effected by first time home buyers. The Superior numbers may help to support that the First Time Home Buyer Credit is allowing folks to move up into the next phase of housing. Superior's numbers are more indicitive to strength across the market as a whole.

Denver CO Housing and Economic Market Finishes Top 40

Denver, Colorado and its surrounding areas such as Broomfield, Aurora, Westminster, Boulder contributed to the area being one of the top 40 most stable areas in the Country according to Business Weeks most recent assessment. The combination of great outdoor activities over 300 days of sun a year and a diverse, but robust employer base has allowed the Denver Co Housing market to actually show a 2% increase over last year and the unemployment rate is over 20% better than the nation as a whole.

This echoes what RE/MAX Alliance is seeing as a company. September and October are showing extremely strong showing and under contract numbers compared to last year. In some markets we are seeing increases of over 50%.

Job growth (since peak) rank: 61
Gross Metro Product (since peak) rank: 52
Unemployment change (year over year) rank: 21
Home price change (year over year) rank: 22