Tuesday, May 24, 2011

Denver housing statistics...what to look at

I have been tracking the multiple listing service data here in Denver for about 11 years.

It seems to me there are 2 key indicators that indicate the health of the Denver real estate market.

(See a month to month comparison here). See the annual trends here and the way NEW Listings have declined here

ONE: The number of sales each month compared to the same month the year before: an increase is good a decrease is bad.

TWO: The number of new listings coming on the market each month: Fewer means fewer folks "testing" the market and a lower supply: GOOD. More means more folks "hoping" to get their price: BAD. I guess the optimism factor has to be looked at too, however that could mess up my neat little way of looking at things.

What I do know is that for the first time in a long time, as a Buyer's Agent the buyers I am representing are in a situation where they could be, and were facing competing offers. Good for the Seller, not so for the Buyer. This happened in the City of Denver and in Highlands Ranch. Simply, I have to know the feel of the market. You do not want to be surprised by loosing a home due to another offer, nor do you want them to over pay for that same home. In the late 1990's we used to say "The best deal we can get for you is to get you there first". That time could be very close.

Here is the unabashed sales pitch...you need an experienced Realtor to represent your interests when you buy a home in metro Denver Colorado, or anywhere else.
A Full Time Licensed real estate broker since 1985 I go to work everyday for you & your friends, learning about our home town! It could be Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado. Talk to me for real estate advice, properties for sale, multiple listing service, all available at www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

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