Denver Zip Code Real Estate Market Report

The Denver Metro real estate market statistics, are compiled each month. As typical in any real estate market statistics are best looked at when they are "local" meaning by neighborhood to neighborhood. The easiest way for us to track the Denver real estate market is by using a variety of methods to track the market. We consider the number of units, average price, average days on market, list to sold price ratio, number of weeks of inventory. All these figures aid us in determining if the market is improving, declining or staying the same. We also use these same forecasting tools to price your home. As in any market, it is the buyer and the seller who really determine the true value of a home sale. We use this data to predict what that value is most likely to be. Currently the Denver real estate market is dealing with the issue of inventory. Our inventory is 40% less than it was last year, and even last year that was low. Looking at the color coding on the band graphs below, You can easily see how each neighborhood is doing. Of course even this one must be careful not to jump to conclusions. One month's data is not enough to make a good decision for pricing your home. Remember Green is good, red is not so good. Unless of course you are a buyer and not a homeowner. Buyers will find better deals in the zip codes that are in the red zone. This of course is making the assumption that one is dealing with a motivated seller. Buyers, do not dispair over the lack of red zoned/buyer market zip codes in metro Denver. You have other things going for you, for instance interest rates are the lowest they have been since your Grand-father (or maybe great-grandfather) purchased a home. Buying at these rates is something to take advantage of right now. Waiting until later you may lose your buying power. Yes, rates and prices will go up. Our lack of inventory is the scarcity that makes the demand that increases the prices. An increase in price will cost you more too.

City and County of Denver Real Estate Market Report by Zip Code

Northeast Region ~ Metro Denver Real Estate Zip Code trends

 

Southeast Region ~ Metro Denver Real Estate Zip Code Trends

 

Southwest Region ~ Metro Denver Real Estate Zip Code Trends

 

Northwest Region ~ Metro Denver Real Estate Zip Code Trends

 

Denver Real Estate Market Report

The Denver Metro real estate market statistics are in and the news continues to get better. Inventory of homes on the market is at the lowest since we can recall. Officially we have 36.36% less homes on the market than at the same time last year. The average sale price is down 1.96% from the same time last year. Considering how hard hit other parts of the country have been, this is good news for Metro Denver. We are selling homes, in fact depending upon which area we are selling at a rate of 20-26% of the inventory each month. Not all areas are experiencing this rate of sales. The mountain properties in Conifer, Bailey, Pine and Mountain Jefferson County continue to see 49+ weeks of inventory, making those areas an extreme buyer's market. Knowledge is power, knowing what the market is doing is the first step. The easily read band graphs provide the following information:

• Number of Sold Properties in each MLS region
• Number of Active Listings
• Number of weeks of inventory
• Average Sold Price
• Average Days on Market (DOM)

Northeast Region ~ Metro Denver Real Estate trends

Northeast Region of Suburban Denver continues to lead the areas in the highest ratio of solds per listings at 26%. This area also has the lowest average price of all the regions at $185.803. Buyers looking for a good value in their home purchase are finding deals here.

Southeast Region ~ Metro Denver Real Estate Trends

The Southeast area is doing very good overall. The area is experiencing strong sales and holds the record for the highest average price in the region at $332,279. In November 21% of the available listings sold, 714 in all!

Southwest Region ~ Metro Denver Real Estate Trends

Metro Denver Southwest area has seen improvement since last month. The mountain areas (with the exception of Mtn. Conifer, Pine and Mountain Jeffco Central) are all rising out of that red zone. More homes sold, but at a lower average price than last month. Typical of a soft market the sellers who must sell are making adjustments in price. The weeks of inventory is dropping, as is the average days on market (121 DOM). In November Southwest Metro Denver Region sold 20% of listings on the market at 448 units.

Northwest Region ~ Metro Denver Real Estate Trends

 

In nearby Silverthorne, Colorado there is a Castle under-construction for the  next few months.  Many people are working on it day and night even though it is temporary.  Right now when the temperature is cold the Castle grows, but in a few months when the warm wind blows the Castle will melt away.

What a wonderful sight this Castle is.  Children and adults smile in appreciation  of its wonder.  The entire Castle is made only of ice.  Ice and ice alone transforms into the shape of a magnificent site.

The Ice Castle is open daily.  For more information please visit the Ice Castles Website.  It's only 90 minutes from Metro Denver just off I-70 in Silverthorne.  What a great place to visit this holiday season!

In the meantime, enjoy some of my photos taken last week.

Brian is associated with the Ice Castles. He demonstrated how the climb to the top.  They wear spikes on their shoes, in fact he offered me the opportunity to use the spikes, but I declined. 

They grow their own icicles on frames at ground level.  Carefully the icicles are broken off and transported to the upper reaches of the castle.  These icicles are then used as "rebar" to give a foundation to the growth of ice to come.

At night, lights are placed inside the tunnels of the castle.  The light turns to a soft glow.  The Twilight colors of the sunset also provide some wonderful colors against the ice.

Here you can see the beginnings of a wall.  The process of adding the icicles to the level below, builds a new level.  to the Castle.  The process will continue through the winter months.  By February the Castle should be 50-60 feet tall.

 

The star is actually a street light, shining through the Castle.  By using F-22 on my camera, it formed a star.

There has never been a better time to purchase a home. First time buyers are finding with the low interest rates and relatively low home prices, they can afford a much nicer home than they could in the past. If you are insure of the process, watch this tutorial on Buying Your First Home. It will answer your questions and perhaps encourage you to investigate the possibility of becoming a home owner.

Denver Real Estate Market Report

The Berkshire Group REALTORS®  present the latest real estate market statistics for the month of October, 2011.  These easy to read band charts will give you a real estate market update for the various quadrants of the Metro Denver market.  If you are thinking of buying or selling a home, please call us for a more in-depth market report for your neighborhood. Knowledge is power, knowing what the market is doing is the first step. The easily read band graphs provide the following information:

• Number of Sold Properties in each MLS region
• Number of Active Listings
• Number of weeks of inventory
• Average Sold Price
• Average Days on Market (DOM)

Inventory at a Low Level

Low Inventory, Season Not the Reason!

Northeast Region ~ Metro Denver Real Estate trends

Northeast Suburban took all the records in the Denver Metro area last month.  This area has the most affordable housing (average $161,115), with the  least days on market (DOM 89) sold the highest percent of the listings at 26%. Buyers have obviously found the prices and the area to be very attractive and they are buying homes in Northeast Suburban of Metro Denver!

Southeast Region ~ Metro Denver Real Estate Trends

The Southeast area continues to lead the Denver Metro region in Average Sale Price ($306,161).  The DOM - Days on Market is 97, the area sold 21% of the listings last month.  Good schools, close proximity to Downtown Denver, Denver Tech Center and Inverness Business Park make this area highly desirable.

Southwest Region ~ Metro Denver Real Estate Trends

Metro Denver Southwest area continues to see improvement.  The area sold 18% of the listings (lowest in the area, but for the area an improvement) and the DOM - days on market is right at 100.  The area has the second highest average price in the area at $295,455.

Northwest Region ~ Metro Denver Real Estate Trends

Denver Real Estate Market Report

The Berkshire Group REALTORS® are delighted to present the latest real estate market statistics for the month of September, 2011.  These easy to read band charts will give you a real estate market update for the various quadrants of the Metro Denver market.  If you are thinking of buying or selling a home, please call us for a more in-depth market report for your neighborhood. Knowledge is power, knowing what the market is doing is the first step. The easily read band graphs provide the following information:

• Number of Sold Properties in each MLS region
• Number of Active Listings
• Number of weeks of inventory
• Average Sold Price
• Average Days on Market (DOM)

Northeast Region ~ Metro Denver Real Estate trends

East Suburban North offers the best buy in the Northeast Region for buyers.  At the present time all the other areas are leaning toward a seller's market.  Aurora North still has the least expensive average sold price.  Homes in North Suburban Central are selling with the least amount of Days of Market.

Southeast Region ~ Metro Denver Real Estate Trends

The Southeast area is doing very good overall.  The area is experiencing a very short absorption rate with average days on market lower than in any other Metro Denver area. Aurora South has the highest appreciation in the Southeast Denver market.  It also has the lowest average price.  There's something to be said for an area that has good prices and good schools.  Homes are selling at an average of 89 days!

Southwest Region ~ Metro Denver Real Estate Trends

Metro Denver Southwest area has seen improvement since last month.  The mountain areas (with the exception of Mtn. Evergreen North and Mountain Jeffco Central) are all rising out of that red zone.  More homes sold, but at a lower average price than last month.  Typical of a soft market the sellers who must sell are making adjustments in price.  The weeks of inventory is dropping, as is the average days on market.

Northwest Region ~ Metro Denver Real Estate Trends

Living in Colorado comes with many benefits, one of my favorites is the access we have to the most beautiful scenery in the world!  A short drive into the mountains one can find spectacular views in any direction.  In the fall my favorite place is on the western slope of Colorado in the San Juan Mountains.

This year I took an extended weekend trip with 3 other ladies.  We call ourselves The Pixel Chicks, because we share a passion for photography.  It was an amazing 4 days of photo talk and finding the perfect shot.

We left Denver and headed west via Highway 285 to Buena Vista then caught Highway 50 to Gunnnison.  Shortly there after we went south to Lake City.  It was the first time I'd ever been to Lake City, what a great little town!

Our visit to Fall Creek was the first destination where I gingerly climbed jagged rocks while fully loaded with camera, tripod and gear. I stood at the edge to capture the best shot of the Falls.  It wasn't an easy position to get to.  There was a young man helping me navigate to a large flat rock nearest the edge.  He had such a delightful accent, I asked  him where he was from.

He said, "Ghanna."

I said, "you are a long way from home."  "Yes" he replied, "8000  miles!"

"Welcome to Colorado" I said warmly.

"Thank you, there is a God." was his emotional reply.

Wow. How could I top that?

A few minutes later one of my secret wishes came true.  Two cowboys were moving a herd of cattle across the range to a new location.  I stopped to photograph them until they were finished. My favorite image was of them riding home with the yellow Aspen Trees in the back.

From Lake City we drove over Cinnamon Pass.  To the uninformed this might seem like a "normal" route, but let me tell you it's not for the weak of heart!  Cinnamon Pass is a 4-wheel drive road, made for high clearance vehicles only.  I just bought a new car last month that qualified, well kind of it's all-wheel drive with high clearance.  I was ready to test out my new car, because frankly I purchased this vehicle to do exactly what I was doing (in addition to showing homes to clients that is).

The rough road of Cinnamon Pass is 21 miles from Lake City to Ouray, how bad could it be?  It was bad, but passable.  The rocky road was described by my passenger Arina as being a "butt pucker!"  She was a trouper, luckily for me because when the road got rough Arina jumped out to guide me over the boulders.  Many times I couldn't see over the hood of the car, but she guided me well.

Cinnamon Pass treated us to wildlife.  We saw Mountain Goats and Moose.  While Mountain Goats are fairly common, Moose are not.  Moose tend to live up high along streams.  They are North America's largest animal and have no natural enemies. 

Sadly my favorite zoom lens broke between the Cowboys and the Moose, so the only images I have of Bullwinkle are not all that close.

We reached the summit right at sundown.  It was a good/bad thing because as we marveled in the beauty of the sunset, we worried about the trip down in the dark.

It was a long, treacherous ride but we were very careful.  I missed a turn and didn't discover it until long past.  I turned on my GPS and she kept telling us to "make a legal u-turn!"  Since the road continued to improve, there wasn't a chance I would turn around to retrace our route, I knew what was behind me.  Plowing forward was the better of two options.

Eventually we ended up in Silverton instead of Ouray.  It's about 24 miles south of our destination, but once again we were on a paved highway!

I drove the paved road, also known as The Million Dollar Highway in the darkness.  I knew the road well, it hugs the mountain on one side while the other side drops off to a seeminly bottomless pit, there are no guard rails, no street lights, just curves and darkness. I didn't mention this to my passenger nor to my friends following behind.  I figured we would come back in the daytime to enjoy the marvelous Colorado scenery.

Day one of our trip was 16 hours of travel.  We arrived at our hotel 9 p.m. in time to grab dinner and tuck in.  The following three days we found more and more wonderful sights to photograph.  I only took 1025 images over three days.  It will be awhile before they are all processed, but in the meantime, enjoy the few in the slideshow!

Denver Real Estate Market Report

After my introduction of Band Graphs to the Denver real estate market last month, we decided to  continue to report Metro area real estate statistics this way.  So many people contacted me to say they really enjoy how easy it is to read them;  all of a sudden all the numbers make sense! I agree.  We have way too many numbers in our lives and anything that can be done to simplify this report is a good thing!  Most buyers want to know they are doing the right thing when negotiating for a home.  Armed with the proper information they can feel so much better about making the right offer. On the other side of the transaction, home sellers want to know why their home isn't selling as fast as they like and if they are priced in the market.

Knowledge is power, knowing what the market is doing is the first step.

As a word of caution, these statistics are for entire areas, which means they may or may not address the correct values on your street.  For that you need more detailed information, so use these numbers as a guide. The easily read band graphs provide the following information:

• Number of Sold Properties in each MLS region
• Number of Active Listings
• Number of weeks of inventory
• Average Sold Price
• Average Days on Market (DOM)

Northeast Region ~ Metro Denver Real Estate trends

East Suburban North offers the best buy in the Northeast Region for buyers.  At the present time all the other areas are leaning toward a seller's market.  Aurora North has the least expensive average sold price.  Homes in North Suburban Central are selling with the least amount of Days of Market, this is true for the ENTIRE Metro Denver market!

Southeast Region ~ Metro Denver Real Estate Trends

This area is doing very good overall.  The area is experiencing a very short absorption rate with average days on market lower than in any other Metro Denver area. Aurora South has the highest appreciation in the Southeast Denver market.  It also has the lowest average price.  There's something to be said for an area that has good prices and good schools.  Homes are selling at an average of 90 days!

Southwest Region ~ Metro Denver Real Estate Trends

Metro Denver Southwest area has seen improvement since last month.  The mountain areas (with the exception of Mtn. Evergreen South) are all rising out of that red zone.  More homes sold, but at a lower average price than last month.  Typical of a soft market the sellers who must sell are making adjustments in price.  The weeks of inventory is dropping, as is the average days on market.

Northwest Region ~ Metro Denver Real Estate Trends

The popularity of wind energy around the world is not new news.  In Colorado we can see evidence of this as the tall turbines that dot the landscape of our high plains!

This morning I had a fun experience as we were out and about early to see turbine parts being transported by train.

Each blade took up TWO flatbed cars. The train must have been a mile long, for all I could see was turbine blade after blade!

It was amazing!

I don't often think of "how did this get there" when I see the turbine towers across the state.  I do  marvel at their size and really love the idea of using wind for energy.  But now that I've witnessed these parts in transit, I have a new-found appreciation for how much this industry and science is impacting our country.

Enjoy my images, taken from the passenger seat of a almost speeding car!

In conjunction with Active Rain's week of Meetups across the country, we in Metro Denver gathered at Cool River on Thursday night.  It was fun to meet new and old friends in real life.  

We enjoyed catching up on news and discussing shop.  Funny put more than two Realtors in a room and the conversation never stops!

We send our best wishes to Donna Foerster as she recovers in the hospital.  Her husband Rich is working double time to keep business going and helping Donna on the road to good health again!

Other members in attendance were, Joan Cox (who really worked hard to get the word out! THANKS!), Belinda Spillman, Will Hamm, Karin Lundeen, Kerry Klun, Mike & Rebecca Henderson, Chris and Patty Clark.

We all agreed, we need to do this more often!  Any takers?