Denver Real Estate; At Least Part of the Market is Selling!

Denver real estate statistics for the first half of the year have been compiled.  It is interesting to see how the lower end of the market is very strong and as the price goes up, the sales weaken.

Also look at how the first part of the year sales under $100k, $200k and $300k were very strong and dropped significantly in March, continuing to drop each subsequent month.  My bet is that part of the market has been soaked up by investors.

I also see how the trend begins to trickle up in price, lower end homeowners selling in order to move up.  Soon we hope to see the trickle up effect the upper end, which right now is very slow.

June2009-DenverRealEstate-price The next chart illustrates Days on Market.  With only a couple exceptions ($50k to $110k)  June has seen less days on the market in every price range.

I venture to guess the problem within that price range is condition.  Homes currently on the market are foreclosures that are in very poor condition.  These naturally stay on the market longer, because first time buyers can’t afford to repair them.

Investors may not be willing to assume the risk, so they sit until the seller decides to price for the market, meaning reducing the price to compensate for the condition.

Sometimes owners (banks too) figure this out, but it takes time.

The market speaks, when a property doesn’t sell, it’s time to reduce the price.


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About Kristal Kraft Denver Realtor

Hi, I'm Kristal Kraft, the resident blogger here, posting real estate and Metro Denver area information since 2003! You will find me writing about things I feel are important in the home buying process. When it comes to buying and selling homes, there's so much to know. I enjoy providing that information to my clients so they can make decisions based on knowledge and actual fact. You'll find I'm more of a teacher than a salesperson. My services include: residential property sales, purchases, 1031 Exchanges, new home purchases, REO, foreclosures, short sales. So if you are in the market to buy or sell Denver real estate, tap into my knowledge, just call me. I welcome your call!