HOMES PILING UP????

Not that I can see but:
There was an article last week in the Rocky Mountain News that stated that Denver has the highest number of listings ever. You can read it here: http://tinyurl.com/napu6

When you are reporting statistical information you have to be careful how you handle it.
The article referenced missed 2 important facts...

"Ghost Listings"-those reported in two market areas and appearing as 2 listings account for approximately 5097/28949 as of 5/8/06; a valid marketing tool where properties might be on the border of two or more geographic market areas as defined by Metrolist.

New Homes Listed by builders approximately 1630/28949 as of 5/8/06...these are new homes never lived in before and not "resales".

It appears that there are about 23,852 actual single family and condo/townhome property listings in the Denver market as of this date (05/08/06). Almost a 25% error off what was reported.

Even more interesting was the article on the "news" about the appreciation in the Railyards. I do not think we can have both an appreciating market and a Buyer's market.

A final item that would be an interesting statistical query; How many listings are fixed up from a sale within the last 6 months? I may do that one of these months.

I would define Buyers Market as well over 120 days on the market for the average listing, and the seller receiving 95% of asking price or less. Right now that number is closer to 98% at least personally. Statistically, these are very hard numbers to access, because of the way the MLS stats are developed, and reported.

So ultimately the article should have headlined:
Home Listing Data Inflated by 25%.


Highlands Ranch Colorado real estate broker covers Littleton, Centennial, Englewood, Lone Tree, Parker, Castle Rock and metro Denver, Colorado real estate information is available at www.DenverRelocation.com including searches for properties and homes.