Selling Residential Real Estate in Metropolitan Denver
The REALTOR® Association is making a strong and well thought out effort to understand the future of housing, those consumers that want and need housing, and the role that professional REALTORS® will play in the future. Does the American Dream of home ownership still have merit, or will there be a New American Dream. As [...]
Commentary - The inventory problem is becoming critical. Maybe. While the available published inventory is very low, there are increasing suspicions that many properties are being sold inside brokerages without being made available to the market. This column will not concern itself with that phenomenon, as we are concerned here with the public data. Interest [...]
Properties over $600K are in a buyers market. The market is very aggressive under $400K. 2013 starts out with properties on the market for 25 days less than in Feb. 2012 The tiny green bars on the chart reflect the lowest inventory of homes in 30 years. We continue to sell more than we place [...]
Commentary - There is very little change since February in the Metro Denver Real Estate market. Interest rates decreased ever so slightly since early February, but not so potential home buyers would be affected. 92.6%% of those that want a job have one. While builders increased their starts by over 50% from 2012, building material [...]
For the past 5 years the media, and many people who should know better, have been flapping their gums about a housing crises. Somewhere in the misty past, this column mentioned we did not have a housing crises, but rather a financial crises that affected housing. So, with resale inventory plummeting around the United States, [...]
January 2013 was the strongest Jan. sales month in recent memory. Price ranges below $600K reflect a buyers market. Available resale inventory lowest in 30 years. Strong Jan. sales portends a strong 2013. Average sold prices poised to exceed $350,000 in 2013 Fast sales can be expected all year.
The view looking back at Metro Denver’s real estate market in 2012 is pleasant in almost every respect. A year over year increase in sales of 7,000+ properties provided smiles for participating professionals. Builders maintained a steady increase in starts and finishes, sliding into 2013 in the best shape in 5 years. An increase in [...]
6,000 more SFR were sold in 2012 than in 2011 Prices declined from the high in June, then started an unusual late year comeback. Days on market increased toward years end, but expect 60 days or less by April. Inventory continues to be historically low. Year over year sales increased 10 of 12 months in [...]
Commentary For most of 2012 the commentary has been generally positive, with year over year averages improving in almost every category over 2011 and for the preceding 3 years. The 2013 real estate market outlook remains strong, but, external factors could change the picture. The so-called “Fiscal #%&@#” could affect the real estate market, as [...]
Positive Price Creep-more homes are selling at higher prices! Lack of inventory pushes prices higher. That and low interest rates. The seasonal sales decline isn’t declining much this year! Days on market are increasing as winter arrives, but still a sellers market! Average Sold Prices still very high, a great jump off point for 2013!
Market strength is now reflected into the $500K + categories. Although it is still a buyers market in the upper price ranges, market resiliency is now apparent through the 2 Million range. The lack of inventory is, and will continue to slow sales going into 2013. The Denver market remains strong, with 2012 finishing as [...]
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