Denver Zip Code Real Estate Market Report
The Denver Metro real estate market statistics, are compiled each month. As typical in any real estate market statistics are best looked at when they are “local” meaning by neighborhood to neighborhood. The easiest way for us to track the Denver real estate market is by using a variety of methods to track the market. We consider the number of units, average price, average days on market, list to sold price ratio, number of weeks of inventory.
All these figures aid us in determining if the market is improving, declining or staying the same. We also use these same forecasting tools to price your home. As in any market, it is the buyer and the seller who really determine the true value of a home sale. We use this data to predict what that value is most likely to be.
Currently the Denver real estate market is dealing with the issue of inventory. Our inventory is 40% less than it was last year, and even last year that was low. Looking at the color coding on the band graphs below, You can easily see how each neighborhood is doing. Of course even this one must be careful not to jump to conclusions. One month’s data is not enough to make a good decision for pricing your home.
Remember Green is good, red is not so good. Unless of course you are a buyer and not a homeowner. Buyers will find better deals in the zip codes that are in the red zone. This of course is making the assumption that one is dealing with a motivated seller.
Buyers, do not dispair over the lack of red zoned/buyer market zip codes in metro Denver. You have other things going for you, for instance interest rates are the lowest they have been since your Grand-father (or maybe great-grandfather) purchased a home. Buying at these rates is something to take advantage of right now. Waiting until later you may lose your buying power. Yes, rates and prices will go up. Our lack of inventory is the scarcity that makes the demand that increases the prices. An increase in price will cost you more too.
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.
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”.
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.
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.
The Northwest Denver Region 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.
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 December 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.