Denver Real Estate Market Statistics
Looking for Denver real estate market statistics? Please click here to view Denver housing market statistics, which were compiled by our partner, Land Title.
As always, please let us know if you have any questions on the ever-changing Denver real estate market. We are here to help you with all of your real estate needs!
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver Real Estate Update – August 2009
The Denver real estate market heated up in July, according to Metrolist’s latest statistics. The number of resales of single-family and condos, which increased a whopping 6.1 percent from May to June, was the highest of the year, although it was still lower than last summer.
Price range continues to be a major factor in the Denver real estate market – homes above the $300,000 mark are moving a bit slower than lower priced homes. This breaking point is often determined by the maximum FHA loan limit, which is $417,000 and under.
While the Metrolist statistics show slight year-to year and month-to-month decreases, the most recent S&P/Case-Shiller Home Prices Index reveal that Denver home prices rose 1.3 percent from April to May, which is an increase for the third consecutive month. It also reported that Denver home prices had the second-lowest year-over-year price decline of the 20 cities included in the report.
It is obvious to us that the Denver real estate market bottomed months ago. If you are a Denver homebuyer, don’t miss your opportunity to take advantage of the strongest buyer’s market in decades – it won’t last long!
For information on the state of the Denver housing market, please contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own
Price Range is Currently a Major Factor in the Denver Real Estate Market
How is the Denver real estate market faring this summer? It really depends on the price range that you are looking at – the lower end is much more robust than the higher end. We are optimistic about the Denver housing market, especially for homes priced to receive offers at the maximum FHA loan limit of $417K and under. This conclusion is not only based on what we are observing, but on the many articles published in the paper supporting that this price range has bottomed out.
The market is still sluggish for homes requiring conventional loans over the FHA loan limit of $417K, but we hope that it will open up as the overall market improves. The inventory of homes falling into this category (400s and up) is much higher than lower-priced homes.
In the current market, homes must be well-presented, and be correctly priced to be competitive. This trend will continue into the fall and winter months. Looking ahead to 2010, we anticipate the market to pick up, and for home appreciation to occur in certain price ranges, as housing inventory continues to decline.
For information on the Denver real estate market, please contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060.
Denver Real Estate Update – May 2009
Spring is finally in the air – the flowers are blooming and the graduation music is wafting through the air. So, has this spring brought good news to the Denver real estate market? While recent numbers from Metrolist present a mixed message, there are signs of hope on the horizon.
The bad news is that Denver-area home sales have decreased significantly from last year (around 20 percent), and that the average sales price of a Denver-area home has decreased by just over five percent from last year.
There is good news this spring, too, including that the number of homes on the market has decreased by 20 percent from last year. Statistically, things are looking better from last month with the number of homes under contract increasing by 7.4 percent, and the number of homes sold increasing by 5.7 percent. Houses are also taking a shorter time to sell – 2.64 fewer days (on average) than last year, and 2.25 fewer days (on average) than last month.
The other piece of good news for the Denver real estate market is that foreclosures decreased 46 percent in the first quarter of 2009 from last year. This is crucial to a Denver housing market recovery.
These are all good signs that the Denver housing market may have bottomed out during the winter, and is already on the path to recovery. If you are a prospective Denver homebuyer, do not wait to jump into the Denver real estate market – historically low interest rates and a vibrant seller’s market makes this an once-in-a-lifetime opportunity to purchase a home in Denver.
Farewell to the Rocky Mountain News
Denver received the sad news yesterday that our 150-year-old newspaper, the Rocky Mountain News, is shutting its doors. The last edition will be printed today. Although the paper’s closure has been widely anticipated since December, it is still disheartening. As a Denver real estate agent, I have always appreciated the positive spin that The Rocky puts on everything. In particular, its optimism on the Denver housing market has been greatly appreciated during a difficult time. John Rebchook has done a fantastic job covering the Denver real estate market over the past 24 years.
Be sure and pick up a copy of today’s Rocky Mountain News to have as a keepsake. Farewell, Rocky Mountain News – Denver has truly lost a great friend!
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver Housing Market Outperforming Rest of the Country
Good news for the Denver real estate market! The Rocky Mountain News reported today that at the end of last year, the Denver-area housing market was outperforming 19 of the largest markets in the country. According to the S&P/Case-Shiller Home Price Indices released on Tuesday morning, Denver home prices declined only 4 percent from the fourth quarter of 2008. From November to December of 2008, the metro Denver housing market declined 1.5 percent. Boston had the only real estate market that performed better with a decline of 1.3 percent.
For more information on Denver-area home prices, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Looking for Denver Real Estate Market Statistics?
Looking for statistics on the Denver housing market? TeamCox has compiled statistics for you on our website. Please click here to visit our Denver real estate statistics and click here to view Highlands Ranch real estate market statistics. We will be updating these numbers on a regular basis, so please check back often. As always, please let us know if you have any questions on the ever-changing Denver real estate market. We are here to help you with all of your real estate needs!
Denver Real Estate Market Update (January 2009)
I don’t know anyone who did not breathe a sigh of relief when the calendar turned from 2008 to 2009 a few weeks ago. The fourth quarter of 2008 was a bit of a train wreck, bringing financial news that was so grim that we could not peel our eyes away from the reports.With the new year comes the question of what to expect in the Denver real estate market in 2009? TeamCox Realtors has several reasons to believe that things will improve this year:· The funds will start flowing again! The Denver area has weathered the national economic downturn quite well, and should lead the charge in its recovery. The Denver real estate market faced a major obstacle during the last half of 2008 – a lack of mortgage financing available to buyers. The Feds announced in November that they would buy approximately $500 billion in mortgage-backed securities. Once this happens, funds should start flowing again, and the Denver metro housing market should be in a better position than most of the rest of the country.
· It is not risky to buy a home in Denver! The Denver housing market is holding its value well. Just last week, the PMI Mortgage Insurance Co. released a national report, revealing that home prices in the Denver-Aurora metropolitan area have a less than 1 percent chance of declining in value over the next two years. That’s pretty good odds even in Vegas! The Denver real estate market ranks among the least risky markets in the country.
· Denver homes are affordable! PMI’s report also revealed that Denver homes in the third quarter of 2008 were 15 percent more affordable than they were in 1995. Affordability is based on several factors, including income, housing prices, and mortgage rates.· Interest rates are LOW! The other piece of good news is that interest rates continue to fall, settling just below the five percent mark last week.The Denver real estate market will come alive, as the weather warms up, so don’t miss an opportunity of a lifetime to purchase your dream home. For more information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
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Denver Real Estate Update (November 2008)
The Denver real estate market was not nearly as scary as other cities’ housing markets in October. Metrolist released its monthly numbers this week, and there were many promising signs that the Denver real estate market is on its way to recovery.
· Decreasing Inventory: Denver-area housing inventory plunged for a third straight month in October to a three-year low. There were 20 percent fewer homes for sale than there was in October of last year. Homeowners, who do not need to sell right now, are simply waiting to put their homes on the market. As we’ve been reporting for months, lower inventory will put pressure on Denver home prices to increase.
· Increasing Sales: Home sales in the Denver real estate market continued to increase last month, rising 11.28 percent to 4,282. While the average Denver home price declined from last year, the increase in home sales is obviously great news that suggests that we may have already hit the bottom.
· Positive Outlook: The Denver real estate market was recently named among Urban Land Institute’s “Top 10 real estate markets to watch next year.” The report, which is based on opinions of nationwide real estate experts, cited the reasons for its optimistic outlook were Denver’s diverse industry base and mass transit system
If you are prospective homebuyer, don’t miss your opportunity to purchase your dream home while the market is recovering. The market is likely to come alive during the spring selling season. If you are a home seller, consider listing your home for sale while the competition is minimal. For more information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
The Denver real estate market was not nearly as scary as other cities’ housing markets in October. Metrolist released its monthly numbers this week, and there were many promising signs that the Denver real estate market is on its way to recovery.Denver Real Estate Update (October 2008)
It seems that we have all been looking down quite a bit lately – everyone is looking for the bottom of the stock market, and for the bottom of the Denver real estate market. While I’m still looking for the bottom of the stock market (hopefully, it is almost here!), it certainly seems that we have already hit the bottom of the Denver real estate market. Metrolist released its monthly sales figures yesterday, which revealed that Denver home sales continue to increase, while inventory continues to decrease. The statistics indicated that there was a 14.1 percent increase in Denver home sales from September 2007 to September 2008. Inventory plummeted 21.1 percent from last year. The only blip was that the median Denver median home price of $216,150 is a 12 percent decrease from last year.
For more information on the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
