Denver CO Real Estate Market Trends: June 2010Let’s take a look at the Denver real estate numbers through June and the surrounding metro areas for Residential and Denver Condo Units combined as of June 30, 2010.

(Source: Metrolist. Figures deemed reliable but not guaranteed)

So is our market in good shape? Let’s see.  For June, we can see that the Denver housing market is still most robust in the price range below $300,000.  The average list price is just above $400,000 yet average sold prices reflect the more active price ranges. Comparing the active listing inventory to the number of sold homes in June, we have an absorption rate of just over 5 1/2 months of inventory.  Pretty balanced real estate market in general.  Sellers will average about 80 days or so to sell and they’re negotiating around 7% off their original list price.

Of course, each neighborhood and property type is affected differently and these figures account for all of them.  Homes at the higher end price range in the metro Denver real estate market still struggle a bit in this market with fewer buyers qualified for those purchases and loans tougher to come by at those levels.

Where are we heading? After the deadline for the tax credit at the end of April, under contract listings have dropped off by roughly a third compared to April.  This wasn’t too unexpected, yet the market remains balanced as of the end of June with a big part of this being contributed by the lower price ranges. Sellers need to remain mindful of pricing competitively, condition and effective marketing.  There is a potential for the increase of distressed inventory into the market from the so called “shadow inventory”, which are homes with delinquent mortgages that many lenders have chosen to let ride so far.

So lets be cautiously optimistic for the Denver real estate market. Statistically the numbers aren’t that bad. If your home is struggling or your area is struggling, then pay attention to the numbers and adjust appropriately. Most Denver home sellers are discovering that it is still not an easy market in any way to sell.  If you may be considering a sale, please call me I can help.