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Metro Denver Real Estate Market Report ~ September 2011

Real Estate Agent with Novella Real Estate

October 20, 2011 10:21 AM

Denver Real Estate Market Report

The Berkshire Group REALTORS® are delighted to present the latest real estate market statistics for the month of September, 2011. These easy to read band charts will give you a real estate market update for the various quadrants of the Metro Denver market. If you are thinking of buying or selling a home, please call us for a more in-depth market report for your neighborhood. Knowledge is power, knowing what the market is doing is the first step. The easily read band graphs provide the following information:

Number of Sold Properties in each MLS region
Number of Active Listings
Number of weeks of inventory
Average Sold Price
Average Days on Market (DOM)

Note the color coded band that indicates what type of market each area is typically considered to be in. High inventory means an extreme BUYER’s market. A low inventory of homes available for sale indicates an Extreme Seller’s Market.

Northeast Region ~ Metro Denver Real Estate trends

The Northeast Region encompasses Aurora North, Brighton/Fort Lupton, Denver Northeast, East Suburban North, N Northeast Suburban, North Suburban Central and North /Suburban East, we are in a “normal Seller’s Market” with the exception of the N Northeast Suburban area which is experiencing a "balanced market".

Northeast Denver Real Estate Statistics Trends

Denver Real Estate Statistics Key Absorption Rate

East Suburban North offers the best buy in the Northeast Region for buyers. At the present time all the other areas are leaning toward a seller's market. Aurora North still has the least expensive average sold price. Homes in North Suburban Central are selling with the least amount of Days of Market.

Southeast Region ~ Metro Denver Real Estate Trends

This band chart covers Aurora South, Denver Southeast, Douglas/Elbert/Parker, Douglas/Highlands Ranch/Lone Tree, East Suburban South, South Suburban Central, South Suburban East.

Southeast Denver Real Estate Statistics Market Trends

The Southeast area is doing very good overall. The area is experiencing a very short absorption rate with average days on market lower than in any other Metro Denver area. Aurora South has the highest appreciation in the Southeast Denver market. It also has the lowest average price. There's something to be said for an area that has good prices and good schools. Homes are selling at an average of 89 days!

Southwest Region ~ Metro Denver Real Estate Trends

The band chart of Southwest Metro Denver encompasses both close -in suburbs, the foothills and Mountain communities of Denver Southwest, Douglas County West, Jefferson South, Jefferson South Central, Mountain Conifer Pine, Mtn Evergreen North, Mountain Evergreen South and Mountain Jeffco Central.

Southwest Denver Real Estate Statistics Market Trends

Average Days for sale on market Metro Denver Real Estate

Metro Denver Southwest area has seen improvement since last month. The mountain areas (with the exception of Mtn. Evergreen North and Mountain Jeffco Central) are all rising out of that red zone. More homes sold, but at a lower average price than last month. Typical of a soft market the sellers who must sell are making adjustments in price. The weeks of inventory is dropping, as is the average days on market.

Northwest Region ~ Metro Denver Real Estate Trends

This large quadrant covers the communities in Broomfield, Denver Northwest, Downtown Denver, Jefferson Central, Jefferson North, Jefferson North Central, Jefferson West/Golden, Lafayette, Louisville, Mountain Jefferson North, N Northwest Suburban, North Suburban West and Superior.

Northwest Denver Real Estate Statistics Market Trends

Trends for Denver Real Estate Average Price

Northwest Metro Denver trends show an increase in Days on Market over last month 82 to 100. Mountain Jefferson North only had six sales for the month with an inventory of 57, which is an increase over 2 sales last month. Mountain Gilpin made the chart this month with four sales averaging 80 days on market. Congrats to them as they were absent last month from the chart.

Overall Area Winners

Denver Southeast has both the most inventory and the most sales with 1077 listings and 199 sold for the month of September 2011 Mountain Gilpin has the 104 weeks of inventory, which is the highest for the region. (good deals will be found here buyers!) Evergreen North comes in second with 62.98 weeks of inventory. Following third is Mountain Jeffco at 51.13 weeks of inventory. The areas with the least amount of inventory are Aurora North with 12.25 and Aurora South with 12.80 weeks of inventory. These areas are affordable thus the rush to purchase. If you are a home owner in Aurora who is considering selling your time is now! Price your home right, make it pretty and it will get snapped up quickly!

Questions about your neighborhood? Need more specific data on your home for either purchase or to sell? Feel free to call for more in depth reporting. Kristal Kraft 720-279-4599 I welcome your call.

Based on information from Metrolist, Inc. for the period of July 2011. NOTE: this representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist does not guarantee nor is in any way responsible for its accuracy. Data maintained by Metrolist may not reflect all real estate activity in the market content.