Denver Market Improved In 2011
January 5, 2012 in advice, Buying, Colorado, Days on the Market, Denver Metro Market, Home Buying Tips, Home Owners, Home Prices, home values, Housing Market, Joan Rogliano, Listings, market trends, Median Prices, Pirmary Residence, real estate, Rogliano Real Estate, Selling, Showing Homes, Sold Prices
Inventory has gone down again, but all in all the market improved slightly for 2011. As always, please let me know if you have any questions or would like additional information about your personal real estate investments.
GREATER METROPOLITAN DENVER HOME MARKET
Active Listings inventory continues to decline, 12% month over month and 34% year over year.
Under contract activity and closed transactions activity remains seasonal with a continual decline month over month.
On a Monthly basis, comparison of month over month and year over year:
Single Family takeaways:
The inventory of unsold homes is at 12,531 units, down 12% with November ‘11 level and down 34% from December ‘10.
2,832 units were placed under contract in December, down 16% with November ‘11 and up 5% from December ‘10.
3,156 units sold in December ‘11, up 3% from November ‘11 and up 4% from December ‘10.
Single Family average prices, $253,986 for December ‘11, increased 1% for month over month and even year over year.
Residential and Condo takeaways:
Residential average price, $275,610 for December ‘11, remained relatively even month over month and year over year.
Condo average price, $166,420 for December ‘11, increased 8% month over month and even year over year.
Condo median price, $120,700 in December ’11, decreased 3% month over month and decreased 14% year over year.
Residential median price remained stable at $230,000 in December ‘11 when compared to November ‘11 and increased 2% when compared to December ‘10.
On a Year to Date basis, comparison of YTD 12/2011 to YTD 12/2010:
Sales units 31,437 vs 30,777 (-2%)
Median Price $230,000 vs $235,000 (-2%)
Average Price $279,858 vs $282,080 (-1%)
Sales Volume $10.1B vs $10.0B (+1%)
Days on Market 105 vs 90 (+17%)
Sales units 7,950 vs 8,041 (-1%)
Median Price $124,900 vs $136,000 (-8%)
Average Price $159,141 vs $161,005 (-1%)
Sales Volume $1.2B vs $1.3B (-2%)
Days on Market 116 vs 98 (+18%)
The above representation may or may not reflect all real estate activity in the market.
By definition, Single Family equals Residential plus Condo.
Source: Metrolist, Inc.©2012 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not