Search All Denver Homes
We Give You The Easiest Ways To Search Denver Homes And Find The Perfect Home!
Denver's housing 'inventory' declined again last month, but not dramatically. The upper-price ranges for single-family homes showed the most dramatic swing, but since the bulk of the housing stock resides in lower-priced homes, the actual decline wasn't that great.
In the condo and multi-family market inventory is rising. Earlier this year the lowest price ranges were hot as a pistol, but the market has cooled and those inventories appear to be recovering.
One unexpected surprise was last month's surge in sales for more expensive condos, lofts, and townhomes over $600,000. All but one price bracket dropped by a large percentage, which is great news for high-end condo sellers who've had a hard year with the oversupply in their market.
It'll be pretty interesting to see if inventory levels move dramatically upward in January. If I were to make a bet, a large number of homes and condos will probably return to the market after many sellers return from holiday mode.
Stay tuned for next month's market inventory report.
SINGLE FAMILY HOMES
Active Listing Inventory - Declining For Most Price Ranges
CONDOS, TOWNHOMES, LOFTS
Active Listing Inventory - Becoming Scarce Under $300,000
HOUSING INVENTORY - DENVER CO
Homes And Condos Combined At Lowest Level 5 Years Running
The charts above are based upon "averages." Some homes will sell more quickly, and others may take much longer. The actual results you experience is determined by 1) your price; 2) your location; 3) your appeal; 4) the marketing program of your real estate agent.
RULE OF THUMB BY PRICE RANGE:
SEARCH ALL DENVER HOMES HERE
Statistical data sampled on December 27, 2011. Data provided by Metrolist.
Updated - October 2011
For properties under $200,000, the time it takes to sell a home - IS GETTING SHORTER (on average)
For all other
The last column in the chart below, represents the "month's supply" of homes currently on the market, by price range. In real estate talk, this column is called the "absorption rate", and it's arrived at simply by dividing the number of homes for sale, by the number of homes sold over the last 30 days.
A recap of the numbers shown in this table tells us that the market for single-family homes priced under $200,000 is the most active for sales, and that there's approximately a 4-month supply available. Its less than 3 months, below $100,000. In the $200,000 to $400,000 price ranges, homes are in moderate demand and are taking anywhere from 5 to 7 months to sell. Homes priced above $400,000 may require much longer time-frames to sell. Overall, the number of days required to sell a home is declining.
SINGLE FAMILY HOMES - DAYS-ON-MARKET - BY PRICE RANGE
...PRICE RANGE ... | ...ACTIVE LISTINGS... | ...HOMES SOLD... | ...MONTH'S SUPPLY... |
UNDER $100,000 | 1011 | 311 | 2.7 |
$100k - 200k | 5485 | 1338 | 4.1 |
$200k - 300k | 6002 | 1132 | 5.3 |
$300k - 400k | 3838 | 588 | 6.5 |
$400k - 500k | 2197 | 260 | 8.5 |
$500k - 600k | 1343 | 128 | 10.5 |
$600k - 700k | 910 | 50 | 18.2 |
$700k - 800k | 625 | 40 | 15.6 |
$800k - 900k | 450 | 19 | 23.7 |
$900k - 1 MILL | 295 | 13 | 22.7 |
OVER $1,000,000 | 1321 | 46 | 28.7 |
CONDO, TOWNHOME, LOFTS
...PRICE RANGE ... | ...ACTIVE LISTINGS... | ...HOMES SOLD.... | ...MONTH'S SUPPLY... |
UNDER $100,000 | 736 | 308 | 2.4 |
$100k - 200k | 2087 | 427 | 4.9 |
$200k - 300k | 1072 | 176 | 6.1 |
$300k - 400k | 472 | 48 | 9.8 |
$400k - 500k | 228 | 22 | 10.4 |
$500k - 600k | 133 | 7 | 19.0 |
$600k - 700k | 84 | 8 | 10.5 |
$700k - 800k | 50 | 3 | 16.7 |
$800k - 900k | 50 | 2 | 25.0 |
$900k - 1 MILL | 31 | 1 | 31.0 |
OVER $1,000,000 | 110 | 4 | 27.5 |
When average home sales occur in under 4 months, we refer to that as a Seller's Market. Sales averaging 4 and 7 months are considered to be in a Balanced Market. Sales averaging over 7 months are referred to as a Buyer's Market. In the month of September 2011, we see all three in play, depending on the price range of the property you're shopping for.
DISCLAIMER: The charts above are based upon "averages." Some homes will sell more quickly, and others may take quite awhile. The actual results you experience will be a function of your price compared to other comparable homes in your area; your neighborhood and location; how well your home shows and appeals to buyers; and, the marketing program your real estate agent will use to expose the property to buyers.
More updates soon,
Statistical data sampled on September 12, 2011. Data provided by Metrolist.
Originally posted at: How Long Does A Home Sale Take - Denver CO
(303) 514-4000
What Our Clients Say
Buy A Home | Sell A Home | New Homes | Foreclosure Help | First-Time Buyers |
Copyright © 2011, Michael Dagner and and www.DenverHomesOnline.com. All rights reserved.
Call me today, and let's talk about your plans (303) 514-4000!
The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
5 Minutes From The Denver Tech Center - Near Tamarac Square, 9-Mile Station, & Cherry Creek Reservoir
(303) 514-4000
Copyright © 2010-2011, the Michael Dagner Group. All rights reserved. Sitemap | Terms Of Use | Our Commitment To Your Privacy