Real Estate Market Reports for May 2007
Douglas County, Colorado - STATISTICS FOR HOME SALES IN THE AREA
This report includes all areas of the MLS known as DHL : Douglas County - Highlands Ranch, Lone Tree, and Littleton (Douglas County)
Residential - Single Family Homes
ACTIVE LISTINGS
- Total Active: 707
- Average Price: $458,891
- New Listings: 551
SOLD LISTINGS
- Total Sold: 232
- Average Price of Sold: $373,292
- Sold at % of List Price: 98%
- Average Days on Market (DOM): 57
OFF MARKET
- Under Contract: 277
- Expired: 32
- Withdrawn/Other: 268
Residential Condos/Town Homes
ACTIVE LISTINGS
- Total Active: 143
- Average Price: $237,730
- New Listings: 65
SOLD LISTINGS
- Total Sold: 24
- Average Price of Sold: $239,560
- Sold at % of List Price: 98%
- Average Days on Market (DOM): 88
OFF MARKET
- Under Contract: 23
- Expired: 10
- Withdrawn/Other: 42
So what does all this mean?
An important number to look at is the absorption ratein an area. This is the number of months of inventory available in the market. The best way to calculate is to take the number of active listings and divide by the number of under contract listings over the last month. A typical method is to divide active's by sold's. I don't think it is as accurate since many of the sold's may have gone under contract 60 days ago or longer, not reflecting the present situation.
This would indicate that there is roughly 2.5 months supply of homes in this area (Highlands Ranch/Lone Tree/Littleton-Doug Co). Pretty good compared to around 4.25 months supply for the entire MLS reporting areas.
If you don't want to wait 2.5 months to sell, then typically another 30 to 45 days to close, then price and condition are crucial.
*Statistics from MLS deemed accurate but not guaranteed.
*These numbers may not include FSBO and New Construction.
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