Denver Real Estate Market Report
After my introduction of Band Graphs to the Denver real estate market last month, we decided to continue to report Metro area real estate statistics this way. So many people contacted me to say they really enjoy how easy it is to read them; all of a sudden all the numbers make sense!
I agree. We have way too many numbers in our lives and anything that can be done to simplify this report is a good thing! Most buyers want to know they are doing the right thing when negotiating for a home. Armed with the proper information they can feel so much better about making the right offer.
On the other side of the transaction, home sellers want to know why their home isn’t selling as fast as they like and if they are priced in the market.
Knowledge is power, knowing what the market is doing is the first step.
As a word of caution, these statistics are for entire areas, which means they may or may not address the correct values on your street. For that you need more detailed information, so use these numbers as a guide.
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)
Northeast Region ~ Metro Denver Real Estate trends
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 has the least expensive average sold price. Homes in North Suburban Central are selling with the least amount of Days of Market, this is true for the ENTIRE Metro Denver market!
Southeast Region ~ Metro Denver Real Estate Trends
This 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 90 days!
Southwest Region ~ Metro Denver Real Estate Trends
Metro Denver Southwest area has seen improvement since last month. The mountain areas (with the exception of Mtn. Evergreen South) 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
Northwest Metro Denver trends show a drop in Days on Market over last month 96 to 82. Mountain Jefferson North only had two sales for the month with an inventory of 65, yikes! Funny, the two that sold averaged 35 Days on the Market. I bet they are wise and happy home sellers!
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.
About the Author
Kristal has been helping buyers and sellers in Colorado since 1984. She enjoys sharing her knowledge of the Metro Denver Real Estate market via blogging and in person while driving around the beautiful Rocky Mountain town of Denver! For fun, Kristal enjoys shooting things with a Canon. Visit Denver Photo Blog