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Denver Metro Cities - State of the Market

By Michael Clarkson

Real Estate Agent with Snow Coast Real Estate

November 10, 2007 08:31 AM

Data. It's what we need, but don't always listen to. For the past 6 months, I have been feeling like a bit of steroetypical used car salesman, telling clients that the data I was seeing indicated a stronger. I was seeing movements in the reduction of days on market, reductions in home inventory, and the very subjective metric: multiple offers on foreclosed (bank owned homes). Now, the National Association of Realtors® has put together some data, that indicates Denver is one of the top five most probable for appreciation in 2008. The data shown below would tend to indicate that, too. Many more markets in which I focus are now moving from Buyer's Markets to Neutral to Seller's Markets. This is great news for the beleaguered metro area. You can see the study by going to http://www.MileHighHomeHunter.com and clicking on Nat'l Assoc of Realtors - Denver Study in the top left of the navigation bar. Or you can click here: http://www.milehighhomehunter.com/Denver_20_Housing_20_Market_20_Overview.html to be transported directly. The study is password protected, so choose the "Read Only" option when opening it. Welcome to Denver, Home of "2008 Sure Looks Great!" If you know of anyone looking to buy or sell a home in the Denver area, I am never too busy for your referrals. Kind regards, Michael Clarkson More entries on my blog at http://www.MileHighMLS.com Market Trend Analysis - Denver Metro Selected Towns/Cities
Based on information from Metrolist, Inc. for the period October 10, 2007 until November 10, 2007.
Single Family Residences Between $100k and $1,000k
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
Locale	Active Listings	Prior 12 Months Sold	Sold per Month (Avg)	Months of Home Inventory (MOI)	Current Market Condition	Under Contract This Month	Current Month Vs. Annual Sold per Month	Under Contract vs. 12 Mo. Sold
Arvada	617	1,455	121.3	5.1	Seller's Market	135	Seller's Trend	11%
Broomfield	330	825	68.8	4.8	Seller's Market	66	Buyer's Trend	-4%
Castle Rock	796	1,319	109.9	7.2	Buyer's Market	151	Seller's Trend	37%
Denver	4,491	7,931	660.9	6.8	Buyer's Market	859	Seller's Trend	30%
Erie	196	301	25.1	7.8	Buyer's Market	38	Seller's Trend	51%
Golden	473	703	58.6	8.1	Buyer's Market	70	Seller's Trend	19%
Highlands Ranch	330	902	75.2	4.4	Seller's Market	74	Buyer's Trend	-2%
Lafayette	95	226	18.8	5.0	Seller's Market	14	Buyer's Trend	-26%
Lakewood	616	1,430	119.2	5.2	Seller's Market	139	Seller's Trend	17%
Littleton	1,039	3,093	257.8	4.0	Seller's Market	234	Buyer's Trend	-9%
Louisville	30	105	8.8	3.4	Seller's Market	11	Seller's Trend	26%
Northglenn	208	438	36.5	5.7	Neutral Market	48	Seller's Trend	32%
Parker	770	1,651	137.6	5.6	Neutral Market	126	Buyer's Trend	-8%
Superior	37	138	11.5	3.2	Seller's Market	8	Buyer's Trend	-30%
Thornton	831	1,596	133.0	6.2	Neutral Market	179	Seller's Trend	35%
Westminster	647	1,273	106.1	6.1	Neutral Market	125	Seller's Trend	18%
Wheat Ridge	147	303	25.3	5.8	Neutral Market	32	Seller's Trend	27%
Total of Selected Towns & Locales	11,653	23,689	1,974.1	5.9	Neutral Market	2,309	Seller's Trend	17%
Total MetroList*	21,947	33,672	3,367.2	6.5	Buyer's Market	3,677	Seller's Trend	9%
* Single Family Residences Only
http://www.milehighhomehunter.com/
http://www.milehighforeclosure.com/
http://www.cashpathrealestate.com/
http://www.HomesInColorado.com/mclarkson http://www.milehighmls.com
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.