Monday, August 27, 2007

Highlands Ranch and Parker Remain strong:

Sometimes statistics help us understand the true picture. Here are some from July 2007 that tell us that real estate is based upon localized markets, not national news.

Even though I could not do the stats before I now have an interactive map at just below the 2 pictures.
Click the link next to the word statistics to see ALL of Denver's MLS statistics.

Unfortunately I cannot format this properly so please make 3 columns marked:
July 2006, July 2007, Percent change, and then assemble the numbers below under them.
Sorry for the inconvenience.

Douglas Elbert Parker

# of Sales Closed -YTD
1,297 1,345 3.6%
Avg Days on Market
100 87 -14.9%
# of Active Listings
1,388 1,324 -4.8%

Douglas Highlands Ranch

# of Sales Closed -YTD
1,416 1,403 -0.9%
Avg Days on Market
57 54 -5.6%
# of Active Listings
744 652 -14.1%

What this tells us is that Highlands Ranch and Parker are still doing better than the metro market as a whole. Days on Market and number of active listings are key to what will be a strong Seller's market in short order. HOWEVER: Advantage BUYER as the press continues to hound and beat the Denver Area seller.

We got this e-mail from our showing service last week:
It’s hard to be optimistic when every news report seems to start with doom and gloom about the housing market nationwide. And, after reading the Denver Business Journals report on Metro Housing it doesn’t get any easier.

“The Genesis Group real estate research firm graded metro Denver’s single family housing market a “D” in its mid-year 2007 report card. Home foreclosures continue to plague metro Denver with initial foreclosure filings up 40% to 13,412 in this year’s first half from 9,574 for the same period of 2006. Denver county had the biggest increase at 62% to 1,548 foreclosures. Foreclosure rates continue to increase as mortgage rates rise, the resale home market slows…and home appreciation remains flat”.

Slightly happier news shows Colorado’s foreclosure rate slipped to the 5th highest in the nation in July. This is the lowest spot the state has held in more than a year. A total of 5,920 foreclosure filings were made in Colorado in July (1 for every 347 households). This lower ranking continues the trend started in June when we dropped to third down from second place February-May, 2007. This shows a dramatic improvement from 2006 when Colorado ranked #1 for eight months beginning in March.

Metro List shows a decrease of 5.37% in numbers of active listings from last year. DOM also has dropped to 95. Unfortunately Average Sold Prices have also dropped almost 3½% from this same time a year ago.

RERCs showing numbers have remained more or less unchanged from this time last year. Weekdays we are averaging showings on about 9% of all listings down only slightly from 2006. Saturdays remain strong with about 12% of listings being shown down from 14% in June of this year. For more than a year Sunday showings have languished at less than 8%. Our current client inventory reflects 47.75% of all listings are vacant! WOW…sadly this probably mirrors the huge number of foreclosures statewide.

As our market is mostly in the south metro area, we continue to have a good year.
We will always have time for you or friends of yours that mention your name.
As you learn the Denver real estate market, you will find that most of the information reported has a national slant. Real estate markets are localized. "Denver" with over 2mm people could be "in the tank" per the press and yet local markets within the metro area are thriving.

If this kind of information could be valuable to you or your friends, put my 22 years of experience to work for you, learning about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado, we offer real estate advice, properties for sale, multiple listing service, property listings, mls, all available at Drop me a note to

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