The Denver Metro Area had a unique month in Real Estate. Though many have varying opinions, to me, this month appears to be at a point of inflection.
Month to month volume stayed the same for the markets sampled, 384 more homes appeared in MetroList
The 12 month trailing average sales per month stayed static.
Most bothersome, was that the under contract volume - though higher than the 12 month average solds per month - did drop by 725 or -15.8% which is a dramatic month-to-month drop during the busier Summer Season in Denver Real Estate.
Though trending stronger overall, a 15.8% drop is statistically notable.
As a point of reference, in the Denver Metro Area approximately 60% of transactions occur between April and September, 40% occur between October and March. So, Denver is a seasonal market.
In the opinion of the author, it appears the mortgage crisis is adversely affecting what was a firming up of the local market.
Market Trend Analysis - Denver Metro Selected Towns/Cities
Based on information from Metrolist, Inc. for the period July 3, 2007 until August 3, 2007.
Single Family Residences Between $100k and $1,000k
Excludes Housing Not Listed in MetroList
Note: Six Months of Inventory Tends to Indicate Neutral Market, Over 6 Months a Buyer's Market, Under 6 Months a Seller's Market
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 Clarkson is one of Denver's highest profile brokers. He’s been featured in Realtor® Magazine three separate times, Denver Post, Denver Business Journal, KOA Radio, KHOW Radio, and the Colorado Radio Network. Michael is a licensed Managing Broker in Colorado and a GRI (Graduate Realtor® Institute). He is also a partner in the firm, Cash Path Real Estate LLC. Michael has an MBA in International Business from Regis University in Denver.
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