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)
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 Trend Graph
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 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 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 Metro Denver Real Estate Statistics Aug 2011
Real Estate Statistics for Metro Denver

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

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 Metro Denver Real Estate Statistics for August 2011Average 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 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

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.
Trends for Denver Real Estate Average Price

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.