Sep 30, 2011

Which Price Range Got The Most Sales Last Month?

A week ago I prepared a chart of Denver Area home sales that showed how lower-priced homes were in (much) shorter supply, than homes in higher price brackets.  That was a nice snapshot of the market, but it did not reveal everything we'd like to know.

To get a better sense of what direction the market is heading, and where the hot spots are, it's helpful to look across various price ranges.  My latest graphs, below, show the lowest price range is actually not the most active.  Rather, the most active price range for single-family homes around Denver was $150,000 to $200,000.   For condos, townhomes, and lofts, the most active was $100,000 to $150,000.

More revealing are the numbers when we combine the top 3 price brackets for single-family homes. In that spread from $100,000 to $250,000, you will find 50% of all homes sold throughout the entire Denver Metro market. For condos, everything under $250,000 represents 75% of all sales.

SINGLE FAMILY HOME SALES BY PRICE RANGE - METRO DENVER

CONDO, TOWNHOME, LOFTS SALES - METRO DENVER

These charts can give a better understanding of the local market dynamics, and perhaps, how you may need to prepare when buying or selling a home in the Denver Metro Area. Regardless of the price range though, every home transaction is unique and can result in vastly different results depending on the property, its condition and location, and the marketing exposure by the real estate professional.

More updates soon,

Statistical data sampled on September 12, 2011.
Data provided by Metrolist.

 

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