BACK to Basics Real Estate
Yesterday I posted a note about something I had not done in quite a while. I wanted to see what was happening in my clients lives that bought homes in 2004...so I did some mini market evaluations on 15 homes. What I found really surprised me.
Most of the neighborhoods had more properties under contract or pending sale (30 day data) than they had recent sales (6 months of data). Say what? More houses had gone under contract in the last 30 days than had sold in the last 6 months! WOW!
Next, most neighborhoods had more properties under contract than ACTIVE listings, those that are currently for sale. That indicates the inventory is being absorbed. Another WOW!
Well those are great numbers, but not really quantitative. So yesterday I looked at the MLS data for March 2008 for NEW single family listings coming on the market compared with last year (5377 in 2008 versus 6426 in 2007) indicating that inventory is shrinking.
As a matter of fact looking back a few years in March of 2003 it was 6820, 2004: 6948; 2005: 6649; and in 2006: 6936. That really makes the 5377 in March 2008 look like an anomaly.
And lets take it another direction...what it is like out in the market, seeing homes for sale. They are not, as a whole ready. They need to be staged, or cleaned or painted, or priced to their current condition.
I am extremely excited about the Denver Real Estate market.
So, if this kind analysis could be valuable to you or your friends, put my years of experience to work for you! 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 www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com
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