Folks:
This was a very interesting month in the Denver Real Estate Market.
Overall, the Months of Inventory crept up slightly, from 5.36 Months of Inventory to 5.73 Months of Inventory. However, this still implies that the Denver market is turning to being a slight Seller's Market.
The column "Current Month vs. Annual Sold per Month" indicates that the "Under Contract" activity for the current month exceeds the trailing 12 month average, in all locales but Platteville. This is a positive trend. Though the "Chg in Month-to-Month (MOI in Months)" indicates softening in most markets , only Castle Rock and Platteville experienced greater than a month's increase. As an FYI, negative numbers indicates a drop in the Months of Home Inventory, which is good.
It is likely, though I have not done the specific analysis, that the adverse weather that hit in April softened sales activity. (Castle Rock has gotten more snow this year due to its higher altitude.) So, this change may not be material to the overall condition of that market. We will keep an eye out next month to see what trend evolves.
Please enjoy the information. If you have questions, call me at 303.403.2641.
Don't forget, I am always here to assist you or your referrals buy and sell real estate.
Kind regards,
Michael Clarkson
RE/MAX Alliance - Westminster
http://www.milehighhomehunter.com/
Market Trend Analysis - Denver Metro Selected Towns/Cities | |
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Based on information from Metrolist, Inc. for the period April 2, 2007 until May 2, 2007. | |
Excludes New Housing Not Listed in MetroList | |
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Note: Six Months of Inventory Tends to Indicate Neutral Market, Over 6 Months a Buyer's Market, Under 6 Months a Seller's Market | |
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Locale | Active | Sold per Month (Avg) | Months of Home Inventory (MOI) | Current Market Condition | Under Contract This Month | Current Month Vs. Annual Sold per Month | Chg in Month-to-Month (MOI in Months) | |
Arvada | 575 | 119.17 | 4.83 | Seller's Market | 204 | Seller's Trend | (0.22) | |
Aurora | 2,372 | 353.92 | 6.70 | Buyer's Market | 622 | Seller's Trend | 0.28 | |
Broomfield | 405 | 64.08 | 6.32 | Buyer's Market | 102 | Seller's Trend | 0.72 | |
Castle Rock | 922 | 112.83 | 8.17 | Buyer's Market | 194 | Seller's Trend | 1.27 | |
Centennial | 530 | 121.58 | 4.36 | Seller's Market | 161 | Seller's Trend | 0.91 | |
Denver | 3,877 | 651.42 | 5.95 | Seller's Market | 1,114 | Seller's Trend | 0.34 | |
Erie | 192 | 21.00 | 9.14 | Buyer's Market | 41 | Seller's Trend | 0.85 | |
Golden | 409 | 61.92 | 6.61 | Buyer's Market | 93 | Seller's Trend | 0.53 | |
Highlands Ranch | 220 | 64.25 | 3.42 | Seller's Market | 113 | Seller's Trend | 0.37 | |
Lafayette | 85 | 15.58 | 5.45 | Seller's Market | 32 | Seller's Trend | 0.11 | |
Lakewood | 523 | 111.58 | 4.69 | Seller's Market | 197 | Seller's Trend | 0.25 | |
Littleton | 1,093 | 267.33 | 4.09 | Seller's Market | 430 | Seller's Trend | 0.62 | |
Louisville | 24 | 9.17 | 2.62 | Seller's Market | 24 | Seller's Trend | 0.26 | |
Northglenn | 168 | 34.67 | 4.85 | Seller's Market | 51 | Seller's Trend | 0.30 | |
Parker | 840 | 138.75 | 6.05 | Buyer's Market | 240 | Seller's Trend | 0.55 | |
Platteville | 23 | 2.08 | 11.04 | Buyer's Market | 2 | Buyer's Trend | 1.94 | |
Superior | 46 | 12.42 | 3.70 | Seller's Market | 20 | Seller's Trend | 0.88 | |
Thornton | 837 | 123.58 | 6.77 | Buyer's Market | 223 | Seller's Trend | 0.05 | |
Westminster | 631 | 108.67 | 5.81 | Seller's Market | 173 | Seller's Trend | 0.01 | |
Wheat Ridge | 113 | 28.08 | 4.02 | Seller's Market | 34 | Seller's Trend | (0.09) | |
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Total of Selected Towns & Locales | 13,885 | 2,422.08 | 5.73 | Seller's Market | 4,070 | Seller's Trend | 0.38 | |
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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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Thanks for the updated stats. I am licensed Mortgage Broker in Colorado and I agree with the stats our volume has definitely increased in Littleton and Parker areas for purchase loans.