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September 2011 Metro Denver Monthly Market Trends

October 7, 2011

Halloween is just around the corner.  I hope you have something fun planned.  Below are the September market trends for the Metro Denver Area.  Pretty positive numbers again this month.  Remember, last year we traded business in the early part of the year with the home buyer tax credits, which negatively impacted sales later in the year.  I’m still predicting we’ll see strong numbers over last year until the end of the year.  Sales were up versus September last year by 12.81%.  Not as strong as the August year over year number.  This could be due to inventory levels continuing to drop.  September actives were down 32.11%.  This is the 8th month in a row we have seen actives drop compared to last year.  Under contracts were up as well by 5.54%.  Decreasing inventory levels continue to make it difficult for buyer’s at certain price points to find what they are looking for.  I will continue to monitor this trend to see if it continues.

Where are the opportunities in the current market? I will repeat what I’ve said the last few months.  With inventory levels dropping, I think it is a good time to sell if you want to move up in the current market.  A home that shows well and is properly priced will get you a quick sale and then you can take advantage of current pricing on your move up purchase.  Mortgage rates are still excellent, increasing your buying power.

As always, I’m here to help with your real estate related questions/needs or if you want specific information on your neighborhood don’t hesitate to contact me.  Or, you can visit www.MyMetroDenverHomeValue.com to request your free market analysis.  Your referrals of people you know needing help buying or selling a home keep our business growing and are much appreciated.  They will be treated with exceptional service and support.  Have a great month ahead.

 

 

September 2011

% Change vs. Prior Month

% Change vs. Year Ago

Single Family (Residential + Condo)
Active

15,533

-6.6

-32.11

Pending

1,606

4.76

255.31

Under Contract

3,847

-15.21

5.54

Sold

3,337

-16.01

12.81

     Avg DOM

105

6.06

2.94

     Avg Sold
Price

$254,078

-2.59

-2.63

Residential
Active

12,613

-6.13

-28.44

Pending

1,281

4.49

255.83

Under Contract

3,075

-13.43

4.73

Sold

2,610

-17.85

12.45

     Avg DOM

99

3.13

-1

     Avg Sold
Price

$280,289

-1.33

-3.36

Condominium
Active

2,920

-8.61

-44.43

Pending

325

5.86

253.26

Under Contract

772

-21.62

8.89

Sold

727

-8.67

14.13

     Avg DOM

127

14.41

18.69

     Avg Sold
Price

$159,980

-4.8

3.27

© 1998-2011 Metrolist, Inc. All rights reserved.

 

August 2011 Metro Denver Monthly Market Trends

September 15, 2011

Can you believe it’s September?  Before we know it we’ll be dressing up for Halloween.  Below are the August market trends for the Metro Denver Area.  We’re seeing strong numbers in August just like we did in July.  Remember, last year we traded business in the early part of the year with the home buyer tax credits, which negatively impacted sales later in the year.  My guess is we’ll see strong numbers over last year until the end of the year.  Sales were up versus August last year by 29.04%.  Under contracts were up as well by 14.4%.  Since February of this year we have seen inventory levels dropping each month compared to last year.  In August it was down 28.15%.  The decreases in inventory are making it difficult for some buyers to find what they are looking for.  Don’t believe all the negative news you read.  Many sub markets in the Metro Denver area are experiencing sellers markets, not buyers markets.

Where are the opportunities in the current market? I will repeat what I said last month.  With inventory levels dropping, I think it is a good time to sell if you want to move up in the current market.  A home that shows well and is properly priced will get you a quick sale and then you can take advantage of current pricing on your move up purchase.  Mortgage rates are still unbelievable!  I got an email yesterday quoting rates of 4.125% for a 30 year fixed and 3.375% for a 15 year fixed.  Wow!

As always, I’m here to help with your real estate related questions/needs or if you want specific information on your neighborhood don’t hesitate to contact me.  Or, you can visit www.MyMetroDenverHomeValue.com to request your free market analysis.  Your referrals of people you know needing help buying or selling a home keep our business growing and are much appreciated.  They will be treated with exceptional service and support.  Have a great month ahead.

 

 

August 2011

% Change vs. Prior Month

% Change vs. Year Ago

Single Family (Residential + Condo)
Active

16,631

-5.41

-28.15

Pending

1,533

.86

226.87

Under Contract

4,537

6.75

14.40

Sold

3,973

3.60

29.04

     Avg DOM

99

-1.98

4.21

     Avg Sold
Price

$260,821

-3.42

-2.96

Residential
Active

13,436

-4.12

-24.67

Pending

1,226

.91

221.78

Under Contract

3,552

4.90

11.38

Sold

3,177

3.08

28.42

     Avg DOM

96

-3.03

2.13

     Avg Sold
Price

$284,065

-4.88

-3.87

Condominium
Active

3,195

-10.48

-39.82

Pending

307

.66

248.86

Under Contract

985

14

26.77

Sold

796

5.71

31.57

     Avg DOM

111

1.83

11

     Avg Sold
Price

$168,050

9.79

5.44

© 1998-2011 Metrolist, Inc. All rights reserved.

July 2011 Metro Denver Monthly Market Trends

August 15, 2011

I hope you’re having a great August and this note finds you and your loved ones well.  Below are the July market trends for the Metro Denver Area.  I mentioned last month that the numbers for June could lead to strong July numbers. Well, sales were up versus July last year by 17.67%.  Under contracts were up as well by 11.61%.  Since February of this year we have seen inventory levels dropping each month compared to last year.  In July it was down 25.02%.  This is a pretty significant drop.  There are buyers in the current market who want to buy, but can’t find what they’re looking for.

Where are the opportunities in the current market? Buying and possibly selling depending on your situation.  With all the turmoil in the stock market have you thought about investing in real estate?  There are opportunities to buy rental properties that will offer a cash on cash return of over 20%!  With inventory levels dropping, I think it is a good time to sell if you want to move up in the current market.  A home that shows well and is properly priced will get you a quick sale and then you can take advantage of current pricing on your move up purchase.  By the way, have you noticed the current mortgage rates?  I’m seeing 30 year fixed rates at or below 4.25%.

As always, I’m here to help with your real estate related questions/needs or if you want specific information on your neighborhood don’t hesitate to contact me.  Or, you can visit www.MyMetroDenverHomeValue.com to request your free market analysis.  Your referrals of people you know needing help buying or selling a home keep our business growing and are much appreciated.  They will be treated with exceptional service and support.  Have a great month ahead.

 

 

July 2011

% Change vs. Prior Month

% Change vs. Year Ago

Single Family (Residential + Condo)
Active

17,583

2.46

-25.02

Pending

1,520

-2.17

214.70

Under Contract

4,250

-10.73

11.61

Sold

3,835

-6

17.67

     Avg DOM

101

-2.88

17.44

     Avg Sold
Price

$270,066

1.34

.13

Residential
Active

14,014

-1.41

-22.07

Pending

1,215

-.82

217.23

Under Contract

3,386

-11.55

11.02

Sold

3,082

-6.46

17.10

     Avg DOM

99

0

17.86

     Avg Sold
Price

$298,654

2.20

.48

Condominium
Active

3,569

-6.35

-34.72

Pending

305

-7.29

205

Under Contract

864

-7.40

13.98

Sold

753

-4.08

20.10

     Avg DOM

109

-12.80

17.20

     Avg Sold
Price

$153,058

-3.41

-.75

© 1998-2011 Metrolist, Inc. All rights reserved.

 

June 2011 Metro Denver Monthly Market Trends

July 14, 2011

It’s hard to believe we are half way thru the year.  I hope this note finds you and your loved ones well.  Below are the June market trends for the Metro Denver Area.  Sales were up versus June last year by .84% and under contracts were up 22.55% (both signs that the July numbers could look pretty good).  Average days on market was up once again by 26.83% from last year.

Where are the opportunities in the current market? They haven’t changed….buying.  For the savvy buyer, bargains abound.  There are a lot of distressed sales closing each month.  Investors are enjoying great opportunities for no brainer rentals and flips.  Interest rates are still great.  If you’d like to talk about the opportunities to expand your investment portfolio into real estate let me know.  I think it was Warren Buffett who said be greedy when others are cautious and cautious when others are greedy.  Investors are taking advantage of this while potential buyers sit on the side lines to “wait and see what happens”.

As always, I’m here to help with your real estate related questions/needs or if you want specific information on your neighborhood don’t hesitate to contact me.  Or, you can visit www.MyMetroDenverHomeValue.com to request your free market analysis.  Your referrals of people you know needing help buying or selling a home keep our business growing and are much appreciated.  They will be treated with exceptional service and support.  Have a great month ahead.

 

 

June 2011

% Change vs. Prior Month

% Change vs. Year Ago

Single Family (Residential + Condo)
Active

18,026

.77

-20.55

Pending

1,554

-7.77

182.03

Under Contract

4,761

-.33

22.55

Sold

4,080

9.32

.84

     Avg DOM

104

-4.59

26.83

     Avg Sold
Price

$266,493

3.62

-2.57

Residential
Active

14,215

1.84

-18.01

Pending

1,225

-8.65

174.05

Under Contract

3,828

-.78

21.06

Sold

3,295

8.53

2.11

     Avg DOM

99

-8.33

22.22

     Avg Sold
Price

$292,230

4.58

-2.39

Condominium
Active

3,811

-3.03

-28.79

Pending

329

-4.36

216.35

Under Contract

933

1.52

29.05

Sold

785

12.79

-4.15

     Avg DOM

125

10.62

43.68

     Avg Sold
Price

$158,463

-.99

-7.66

© 1998-2011 Metrolist, Inc. All rights reserved.

 

May 2011 Metro Denver Monthly Market Trends

June 16, 2011

Summer is in full swing!  Below are the May market trends for the Metro Denver Area.  Sales were down versus May last year by 16.54%, however, under contracts were up 23.02%.  The under contracts being up in May could be a good sign for the June numbers if they in fact close.  We’ll see what happens at the end of the month.  Average days on market was up once again by 43.42% from last year.  We continue to see the steep declines (increase in the case of days on market) compared to last year’s numbers because of the home buyer tax credits that were in place this time last year.

Where are the opportunities in the current market? They haven’t changed….buying.  Interest rates continue to be low, even for Jumbo loans over $417K.  The rental market is very strong.  If you have been thinking about buying rental property now is a very good time.  If you’d like to investigate the potential opportunities in depth please let me know.

As always, I’m here to help with your real estate related questions/needs or if you want specific information on your neighborhood don’t hesitate to contact me.  Or, you can visit www.MyMetroDenverHomeValue.com to request your free market analysis.  Your referrals of people you know needing help buying or selling a home keep our business growing and are much appreciated.  They will be treated with exceptional service and support.  Have a great month ahead.

May 2011

% Change vs. Prior Month

% Change vs. Year Ago

Single Family (Residential + Condo)
Active

17,888

.23

-16.54

Pending

1,685

-1.23

189.02

Under Contract

4,777

.59

23.02

Sold

3,732

8.84

-14.50

     Avg DOM

109

-2.68

43.42

     Avg Sold
Price

$257,177

3.29

3.65

Residential
Active

13,958

.61

-14.54

Pending

1,341

-1.69

172.56

Under Contract

3,858

-.52

22.91

Sold

3,036

11.01

-11.12

     Avg DOM

108

-.92

44

     Avg Sold
Price

$279,443

2.75

2.25

Condominium
Active

3,930

-1.08

-22.94

Pending

344

.58

278.02

Under Contract

919

5.51

23.52

Sold

696

.29

-26.66

     Avg DOM

113

-8.13

43.04

     Avg Sold
Price

$160,051

1.02

1.58

© 1998-2011 Metrolist, Inc. All rights reserved.

New Loan Modification Tools for Denver Homeowners

May 31, 2011

I got this info from the Certified Distressed Property Institute last week.  The Treasury Department is offering a free online calculator that helps borrowers estimate whether or not they qualify for the Home Affordable Modification Program ( HAMP).  This is a new tool in addition to what is already available at www.makinghomeaffordable.gov.

The calculator is available at checkmynpv.com.

In the two years since its launch, HAMP has helped more than 270,000 borrowers receive permanent loan modification, thus lowering their monthly mortgage payments. This number falls far short of the millions of homeowners at risk of foreclosure.   It goes without saying that foreclosures are bad for homeowners and bad for the housing market.  There are a number of foreclosures being stalled due to the paperwork delays seen at the banks.  In Denver the foreclosure filings are down about 30% this year, but I expect this to change as the banks get caught up.

That is why HAMP is so important. Every homeowner who modifies a loan and stays in a distressed property adds one less property to an already flooded market.  We’ve got a great loan modification guide available at www.ForeclosurePreventionDenver.com.  Check it out.

April 2011 Metro Denver Monthly Market Trends

May 16, 2011

It’s hard to believe it’s the middle of May.  We will be in summer mode before we know it!  Below are the April market trends for the Metro Denver Area.  Sales were down versus April last year by 18.12% and under contracts were down 28.22%.  Average days on market was up once again by 40% from last year.  We continue to see the steep declines (increase in the case of days on market) compared to last year’s numbers because of the home buyer tax credits that were in place this time last year.  I expect this trend to continue probably thru June.

Where are the opportunities in the current market? In a word….buying.  Interest rates for a 30 year fixed are still around 4.75%.  Jumbo rates (loans over $417K) have dropped significantly in the last month.  They currently sit around 5.5%.  Move up buyers and investors stand to gain the most buying in the current market.  The rental market is very strong.  If you have been thinking about buying rental property now is a very good time.  If you’d like to investigate the potential opportunities in depth please let me know.

As always, I’m here to help with your real estate related questions/needs or if you want specific information on your neighborhood don’t hesitate to contact me.  Or, you can visit www.MyMetroDenverHomeValue.com to request your free market analysis.  As always, your referrals of people you know needing help buying or selling a home are much appreciated.  They will be treated with exceptional service and support.  Have a great month ahead.

April 2011

% Change vs. Prior Month

% Change vs. Year Ago

Single Family (Residential + Condo)
Active

17,847

.79

-14.78

Pending

1,706

9.08

174.28

Under Contract

4,749

32.99

-28.22

Sold

3,429

6.86

-18.12

     Avg DOM

112

-5.88

40

     Avg Sold
Price

$248,991

-.26

-.64

Residential
Active

13,874

1.18

-12.43

Pending

1,364

8

172.26

Under Contract

3,878

34.33

-24.95

Sold

2,735

8.23

-17.32

     Avg DOM

109

-6.84

37.97

     Avg Sold
Price

$271,969

-.70

-.83

Condominium
Active

3,973

-.55

-22.10

Pending

342

13.62

182.64

Under Contract

871

27.34

-39.89

Sold

694

1.76

-21.14

     Avg DOM

123

-1.60

46.43

     Avg Sold
Price

$158,438

-.89

-2.02

© 1998-2011 Metrolist, Inc. All rights reserved.

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