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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

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