Jul 31, 2012

Boy, our Denver housing market inventory sure has 'flattened-out' this past 6 months. Back in December, we were looking at 7-10 months for single-family homes, and about 15 months for condos, on average. 

 

To put the two graphs (below) in perspective, a healthy real estate market is one that has 4-7 months of inventory, on average. What this tightening-up of the market means for most home buyers, is that you'll have to be ready to jump when new listings hit the market.  Being "pre-approved" for financing is an absolute must!  Not being too picky, and being very patient, is also going to make home shopping all the more memorable.  At least for condo buyers above the $400k mark, there's more selection to choose from.

Sellers should not confuse the lack of inventory though, with an idea that anything will sell.  It won't!  The Denver market is still experiencing a majority of distress sales (foreclosures, and short sales), so pricing and valuations remain weak.  Houses that are not reasonably priced, or that don't 'show well', just won't sell anytime soon.  

Stay tuned for my next market 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:

• Sellers Market = less than 4 months supply of homes

• Balanced Market = 4 to 7 months supply of homes

• Buyers Market = over 7 months supply of homes

 

SEARCH ALL DENVER HOMES HERE

 

 

Statistical data sampled on July 23, 2012. Data provided by Metrolist.

 

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