Is Denver facing a housing shortage? Well, maybe not a comprehensive shortage, but one where it counts - right in the market sweet spot, the median priced home.
Over the past few months Denver has been acting countercyclically to the national market. If you read my monthly blog, accessible from my site, www.MileHighHomeHunter.com , you know that I have been saying the local market is tightening in the sub-$300k price point.
Inventories this month are tight again:
•· Up to $100k - 2.8 months of inventory
•· $100k to $200k - 4.2 months of inventory
•· $200k to $300k - 5.1 months of inventory
•· All are improvements over last month AND all are inventories that are 1/5 to ½ of the national months of inventory, depending on the price point viewed.
For more information, go to my blog at MileHighHomeHunter.com.
Denver - A Mile High and Never Coming Down!
Michael Clarkson
The Mile High Home Hunter
| Market Trend Analysis - Denver Metro Selected Towns/Cities |
| Based on information from Metrolist, Inc. for period July 10, 2008 to August 7, 2008. |
| Single Family Residences - All Price Levels |
| Excludes Housing Not Listed in MetroList |
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| 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 |
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| (How Calculated) |
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B |
C = B/12 |
D = A/C |
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F = A/E |
| Price Range |
Active |
% of Market |
Sold in Past 12 Months |
Sold Per Month |
Months of Inventory |
Current Activity Status |
Curr Month Under Contract |
Near Term Sales Trend |
Months of Inventory if Current Month Activity Level Continues |
| $ - |
$ 100,000 |
885 |
4.30% |
3,764 |
314 |
2.8 |
Seller's Market |
872 |
Seller's Trend |
1.0 |
| $ 100,001 |
$ 200,000 |
3,920 |
19.03% |
11,251 |
938 |
4.2 |
Seller's Market |
1,929 |
Seller's Trend |
2.0 |
| $ 200,001 |
$ 300,000 |
4,662 |
22.63% |
10,868 |
906 |
5.1 |
Seller's Market |
1,420 |
Seller's Trend |
3.3 |
| $ 300,001 |
$ 400,000 |
3,206 |
15.56% |
5,450 |
454 |
7.1 |
Buyer's Market |
694 |
Seller's Trend |
4.6 |
| $ 400,001 |
$ 500,000 |
2,152 |
10.45% |
2,502 |
209 |
10.3 |
Buyer's Market |
377 |
Seller's Trend |
5.7 |
| $ 500,001 |
$ 600,000 |
1,318 |
6.40% |
1,302 |
109 |
12.1 |
Buyer's Market |
196 |
Seller's Trend |
6.7 |
| $ 600,001 |
$ 700,000 |
957 |
4.65% |
716 |
60 |
16.0 |
Buyer's Market |
97 |
Seller's Trend |
9.9 |
| $ 700,001 |
$ 800,000 |
751 |
3.65% |
436 |
36 |
20.7 |
Buyer's Market |
61 |
Seller's Trend |
12.3 |
| $ 800,001 |
$ 900,000 |
522 |
2.53% |
327 |
27 |
19.2 |
Buyer's Market |
38 |
Seller's Trend |
13.7 |
| $ 900,001 |
$1,000,000 |
449 |
2.18% |
188 |
16 |
28.7 |
Buyer's Market |
24 |
Seller's Trend |
18.7 |
| $1,000,001 |
No Upper Boundary |
1,776 |
8.62% |
662 |
55 |
32.2 |
Buyer's Market |
86 |
Seller's Trend |
20.7 |
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| Total (Seasonally Adjusted)* |
20,598 |
100.00% |
37,466 |
3,122 |
6.6 |
Buyer's Market |
5,794 |
Seller's Trend |
3.6 |
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| Total (NOT Seasonally Adjusted)** |
19,788 |
xx |
xx |
4,154 |
4.8 |
Seller's Market |
4,764 |
Seller's Trend |
4.2 |
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| http://www.MileHighHomeHunter.com |
| http://www.MileHighForeclosure.com |
| http://www.MileHighMLS.com |
| http://www.CashPathRealEstate.com |
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| 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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| * Uses 12-trailing months' average to smooth out the effects of Denver's purchase season (60% Apr - Sep; 40% Oct - Mar). |
| ** Uses raw data to show the impact of current levels of purchases on current levels of supply. This causes substantial seasonal swings in months of inventory. MetroList cutoff date may likely differ from date of data shown above. |
;)
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