Apr 01, 2014

March 2014 Denver Housing Report

- Originally Posted on March 1, 2014 -

 

Inventory Is Low.  I know, I know, I'm getting tired of saying that, too.  But it's been a reality for awhile, and our number one 'Denver real estate' problem of all last year. 

Home & condo prices are holding steady, without much change during this last couple of months.  The average home price is $302k, and for condos its $202.  January ended with only 7000 active listings.  If you factor in about 4500 homes are under-contract right now, its clear that demand has been strong for the number of homes on the market, but there just hasn't been much available.

Thank goodness for winter distractions.  With months of arctic cold and the Broncos in the Super Bowl (sorry - had to mention), and the Olympics, more wanna-be home buyers haven't come out of hibernation.  But neither have many home sellers, who haven't yet gotten motivated enough to clean house and move.   

Sellers may not see robust price appreciation this Spring, because slower sales right now have stalled the number of 'sold comps' that drive higher appraisals.  January's list-to-sold price ratio was consistent with December, at 98.3% (see graphs, below).

Although the market is off to a humdrum start this year, more positive updates are just around the corner.   Till next month,

 

 

Average Home Price & Solds Graphs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Home Price, Inventory, & Days-On-The-Market Graphs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check Out Today's Interest Rates

Today's Interest Rates

 

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Originally posted at: Average Home Price And Trends Report. Data provided by Metrolist. Graphs copyright© Michael Dagner Group. All information deemed accurate, but cannot be guaranteed. Image attribution - percent - www.sxc.hu