Westwood RE Trends: Market Improving?

Real Estate Agent with Your Castle Real Estate

Take a look at the first page, for AUN (Aurora North).  Note these positive market trends this year:
-          number of active listings steadily declining
-          average list price pretty stable (finally!)
-          U/C up dramatically
-          Number of sales / month up (partially seasonality)
-          DOM dropping
-          Stability in average sold prices and sold price as % of list
-          Sold price as % original price UP a lot - banks are getting better at pricing
-          Number of expired listings down
Every indicator is improving this year in AUN.  You will see the same trends in DSW (southwest Denver  County), but not as marked an improvement as AUN.
By contrast look at DSE (southeast Denver County).  
-          listings are up (they should be - seasonality)
-          Note the average list price ($758,000) is a lot higher than the average sold price ($418,000).  Lots of expensive listings brining  up the average ask price, but apparently they are not selling
-          DOM (Days on Market) declining as it normally would due to seasonality
-          Average price declining rather rapidly.  Probably a mix issue - smaller, cheaper homes are probably selling better.
Since these homes in DSE are pricier, it has more of an effect on the "average" sales price on metro Denver.  Oddly, we could see improvement led by the cheapo neighborhoods, with the lux neighborhoods falling behind for a while. It will be interesting to watch.    

(C) Copyright 2008 Your Castle Real Estate


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Todd Houghton

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