Market Trend Analysis - Denver Metro Selected Towns/Cities | |||||||||
Based on information from Metrolist, Inc. for period April 4, 2008 to May 2, 2008. | |||||||||
Single Family Residences - All Price Levels | |||||||||
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 | |||||||||
6 | |||||||||
Locale | Active Listings | 12 Months Sold | Sold per Month (Avg) | Months Inventory (MOI) | MOI Chg from Prior Month | Current Mkt State | Under Contract | Sales Trend | Sales Trend Chg.% |
Arvada | 523 | 1,405 | 117.1 | 4.5 | 0.1 | Seller's Market | 202 | Seller's Trend | 73% |
Aurora | 2,227 | 4,769 | 397.4 | 5.6 | (0.2) | Neutral Market | 891 | Seller's Trend | 124% |
Boulder | 141 | 302 | 25.2 | 5.6 | 0.7 | Neutral Market | 32 | Seller's Trend | 27% |
Broomfield | 372 | 815 | 67.9 | 5.5 | 0.7 | Seller's Market | 91 | Seller's Trend | 34% |
Castle Rock | 1,112 | 1,359 | 113.3 | 9.8 | 0.9 | Buyer's Market | 165 | Seller's Trend | 46% |
Centennial | 529 | 1,307 | 108.9 | 4.9 | (1.8) | Seller's Market | 177 | Seller's Trend | 63% |
Denver | 4,868 | 8,766 | 730.5 | 6.7 | 0.1 | Buyer's Market | 1,744 | Seller's Trend | 139% |
Erie | 194 | 314 | 26.2 | 7.4 | 0.7 | Buyer's Market | 44 | Seller's Trend | 68% |
Golden | 466 | 676 | 56.3 | 8.3 | 0.6 | Buyer's Market | 108 | Seller's Trend | 92% |
Greenwood Village | 142 | 151 | 12.6 | 11.3 | 1.4 | Buyer's Market | 18 | Seller's Trend | 43% |
Highlands Ranch | 540 | 1,051 | 87.6 | 6.2 | 0.3 | Neutral Market | 202 | Seller's Trend | 131% |
Lafayette | 93 | 176 | 14.7 | 6.3 | 0.7 | Neutral Market | 29 | Seller's Trend | 98% |
Lakewood | 565 | 1,373 | 114.4 | 4.9 | 0.1 | Seller's Market | 185 | Seller's Trend | 62% |
Littleton | 943 | 2,750 | 229.2 | 4.1 | 0.4 | Seller's Market | 303 | Seller's Trend | 32% |
Louisville | 27 | 113 | 9.4 | 2.9 | 0.3 | Seller's Market | 14 | Seller's Trend | 49% |
Northglenn | 179 | 403 | 33.6 | 5.3 | 0.1 | Seller's Market | 82 | Seller's Trend | 144% |
Parker | 895 | 1,563 | 130.3 | 6.9 | 0.4 | Buyer's Market | 216 | Seller's Trend | 66% |
Superior | 50 | 124 | 10.3 | 4.8 | 1.2 | Seller's Market | 14 | Seller's Trend | 35% |
Thornton | 735 | 1,706 | 142.2 | 5.2 | (0.2) | Seller's Market | 277 | Seller's Trend | 95% |
Westminster | 622 | 1,265 | 105.4 | 5.9 | 0.2 | Neutral Market | 196 | Seller's Trend | 86% |
Wheat Ridge | 133 | 283 | 23.6 | 5.6 | 0.4 | Neutral Market | 68 | Seller's Trend | 188% |
Total of Selected Towns & Locales | 15,356 | 30,671 | 2,555.9 | 6.0 | 0.1 | Neutral Market | 5,058 | Seller's Trend | 98% |
Total MetroList* | 21,004 | 37,717 | 3,143.1 | 6.7 | 0.2 | Buyer's Market | 6,299 | Seller's Trend | 100% |
* Single Family Residences Only |
|
|
|
|
| ||||
Chg from Prior Month | 438 | (524) | (44) | 0.2 |
| Buyer's Trend | 473 | Seller's Trend |
|
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. | |||||||||
What's the temperature of the market?
Well, not too unlike someone recovering from the flu, the Metro Denver Market is looking better everyday. However, just like someone recovering from the flu, ya' wished you felt better. Nevertheless, you're glad you're on the mend, as opposed to being on the downhill slide. Denver is on the mend and continues to gain strength.
Denver slid back every so slightly from 6.5 months of inventory to 6.7 months of inventory between March and April. However, that's NOT the bad news it seems at first glance.
First, let me review what happened, then I will review why it's not as bad as one would initially think.
This month saw continued strength in the two lowest price points:
At other price levels, months of inventory moved materially only on the high end. However, the current month under contract was 6,256 compared to the trailing 12-month average of 3,146 homes sold. That means, NEARLY A 100% INCREASE IN UNDER CONTRACT ACTIVITY!!! That increase is well-balanced at all price points, though some weakness at the $800k-$900k was noted. So, new inventory is being absorbed as quickly as it is being generated.
That's phenomenal!!!
Why? Well, because a great number of studies I have read indicate the typical buyer moves up by 50% in value between purchases! So, if you sell at $200k, chances are you will buy up to $300k. Think about your own history: Does that statistic track? I look back on my own history and it sure seems to be the case.
Now, the "why" that is positive. Well, the greater action in the lower markets is a signal that people are getting the ability to get loans and move up to the higher price bands. And even though the months of inventory grew slightly, that was a result of the normal increase in listings during the summertime. Current month under contract activity continues to grow at all levels of the market. As a result, this is an indication that normal market behaviors are occurring in the marketplace. In short, there doesn't appear to be a logjam in buying, which would indicate credit issues or unemployment issues at certain income levels constraining activity.
Overall, the market is firming up and is exhibiting predictable behaviors associated with a growing market.
Market Trend Analysis - Denver Metro Selected Towns/Cities | |||||||||
Based on information from Metrolist, Inc. for period April 4, 2008, until May 2, 2008. | |||||||||
Single Family Residences - All Price Levels | |||||||||
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 | |||||||||
Price Range | Active | % of Market | Sold in Past 12 Months | Sold Per Month | Months of Inventory | Current Activity Status | Curr Month Under Contract | Near Term Sales Trend | |
$ - | $ 100,000 | 1,088 | 5.18% | 2,756 | 230 | 4.7 | Seller's Market | 834 | Seller's Trend |
$ 100,001 | $ 200,000 | 4,531 | 21.57% | 10,903 | 909 | 5.0 | Seller's Market | 2,093 | Seller's Trend |
$ 200,001 | $ 300,000 | 4,884 | 23.25% | 11,467 | 956 | 5.1 | Seller's Market | 1,565 | Seller's Trend |
$ 300,001 | $ 400,000 | 3,158 | 15.03% | 5,883 | 490 | 6.4 | Neutral Market | 770 | Seller's Trend |
$ 400,001 | $ 500,000 | 1,998 | 9.51% | 2,710 | 226 | 8.8 | Buyer's Market | 364 | Seller's Trend |
$ 500,001 | $ 600,000 | 1,267 | 6.03% | 1,461 | 122 | 10.4 | Buyer's Market | 227 | Seller's Trend |
$ 600,001 | $ 700,000 | 884 | 4.21% | 796 | 66 | 13.3 | Buyer's Market | 116 | Seller's Trend |
$ 700,001 | $ 800,000 | 681 | 3.24% | 488 | 41 | 16.7 | Buyer's Market | 84 | Seller's Trend |
$ 800,001 | $ 900,000 | 481 | 2.29% | 373 | 31 | 15.5 | Buyer's Market | 42 | Seller's Trend |
$ 900,001 | $ 1,000,000 | 363 | 1.73% | 199 | 17 | 21.9 | Buyer's Market | 37 | Seller's Trend |
$ 1,000,001 | No Upper Boundary | 1,670 | 7.95% | 720 | 60 | 27.8 | Buyer's Market | 124 | Seller's Trend |
Total | 21,005 | 100.00% | 37,756 | 3,146 | 6.7 | Buyer's Market | 6,256 | Seller's Trend | |
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. | |||||||||
Did you miss Michael on the Mike Rosen Show?THENYou need to listen to the "Rosen Replay" on the 850KOA website. See below to listen. |
| Dear Readers, |
| Michael Clarkson's guest appearance on 850KOA | |
I wanted to take this opportunity to offer my personal thanks to Mike Rosen of 850 KOA. Mike is one of our nation's most articulate radio hosts, due to his deep and broad background in Corporate Finance. Mike slays hype and hyperbole; Mike appreciates facts and dispassionate discussion. So, thanks to Mike for offering two hours to have that factual, dispassionate discussion. Listen to the "Rosen Replay".
These segments are downloadable to your iPod! |
As always, whenever YOU are ready, I am here Bringing The World Home To YouTM And, if you know of someone that is looking to buy or sell, I am NEVER too busy for any of your referrals. Kind regards and happy "Home Hunting", On the web: |
Michael Clarkson invited to be a guest onMike Rosen Show on 850 KOA
April 29, 2008 from 10 am - 11 am(Listen Live at http://www.850KOA.com)
|
Dear Michael,
|
Michael Clarkson to be a guest on 850 KOA speaking about local real estate market conditions
| |
As my loyal readers and valued clients will attest, I have been talking about how underrated our local market is. I have been writing about it for about a year and continue to be optimistic about our local market. Well, my blogs have come to the attention of Mike Rosen, popular radio host on Denver's #1 radio station, 850 KOA. Mike's invited me to discuss the local market conditions on his show from 10 AM to 11 AM on Tuesday, April 29, 2008. Please feel free to listen at 850 on your AM dial, or live on the internet at http://www.850KOA.com . I would love have you listen or call in. |
As always, whenever YOU are ready, I am here Bringing The World Home To YouTM
And, if you know of someone that is looking to buy or sell, I am NEVER too busy for any of your referrals.
Kind regards and happy "Home Hunting",
On the web: wwww.MileHighMLS.com
|
| Market Trend Analysis - Denver Metro Selected Towns/Cities | |||||||||
| Based on information from Metrolist, Inc. for period March 4, 2008 until April 4, 2008. | |||||||||
| Single Family Residences - All Price Levels | |||||||||
| 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 | |||||||||
| Price Range | Active | % of Market | Sold in Past 12 Months | Sold Per Month | Months of Inventory | Current Activity Status | Curr Month Under Contract | Near Term Sales Trend | |
| $ - | $ 100,000 | 1,161 | 5.64% | 2,556 | 213 | 5.5 | Seller's Market | 716 | Seller's Trend |
| $ 100,001 | $ 200,000 | 4,750 | 23.09% | 10,950 | 913 | 5.2 | Seller's Market | 1,956 | Seller's Trend |
| $ 200,001 | $ 300,000 | 4,848 | 23.56% | 11,799 | 983 | 4.9 | Seller's Market | 1,475 | Seller's Trend |
| $ 300,001 | $ 400,000 | 3,027 | 14.71% | 5,990 | 499 | 6.1 | Neutral Market | 727 | Seller's Trend |
| $ 400,001 | $ 500,000 | 1,823 | 8.86% | 2,749 | 229 | 8.0 | Buyer's Market | 363 | Seller's Trend |
| $ 500,001 | $ 600,000 | 1,129 | 5.49% | 1,512 | 126 | 9.0 | Buyer's Market | 202 | Seller's Trend |
| $ 600,001 | $ 700,000 | 830 | 4.03% | 829 | 69 | 12.0 | Buyer's Market | 130 | Seller's Trend |
| $ 700,001 | $ 800,000 | 642 | 3.12% | 508 | 42 | 15.2 | Buyer's Market | 78 | Seller's Trend |
| $ 800,001 | $ 900,000 | 449 | 2.18% | 386 | 32 | 14.0 | Buyer's Market | 37 | Seller's Trend |
| $ 900,001 | $ 1,000,000 | 344 | 1.67% | 204 | 17 | 20.2 | Buyer's Market | 26 | Seller's Trend |
| $ 1,000,001 | No Upper Boundary | 1,572 | 7.64% | 762 | 64 | 24.8 | Buyer's Market | 113 | Seller's Trend |
| Total | 20,575 | 100.00% | 38,245 | 3,187 | 6.5 | Neutral Market | 5,823 | Seller's Trend | |
| 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. | |||||||||
Michael J Clarkson is your real estate professional for buying, selling or investing, serving:Castle Rock, Parker, Littleton, Lakewood, Golden and Greenwood Village.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
