Sunday, March 15, 2009

Denver home inventory down to 60 days

  • VERY interesting real estate trend here:
    Residential listings 100k-250k in metro Denver Colorado
    AREA active/under contract
  • South Suburban Central (Centennial Englewood Littleton) 197/91
    South Suburban East (Centennial Englewood Greenwood Village) 48/21
    Douglas Highlands Ranch (includes Lone Tree) 86/48
    Douglas Elbert Parker (Parker Elizabeth Kiowa) 160/89
    Douglas County West (Castle Rock Larkspur) 198/59
    Denver South East (City Limits SE) 173/64
    Denver South West (City Limits SW) 322/152
    Jefferson County South (Un-incorporated Jefferson County 132/87

  • FROM MY PERSPECTIVE, this appears to be a 60 day inventory pretty much across the board in south Denver, if you assume an average of 30 days per closing for each property under contract. I know each area has their own characteristics and I only did this search quite by accident when counseling some first time buyers. Today, I went a little deeper and found that what I am seeing while showing homes is in fact true! So this report comes from 2 levels...gut as in I am seeing this and raw stats from the local MLS feed.

MY CONCLUSION: If you want to make a "deal" do it fast! The inventory of homes available is shrinking. This price point will facilitate buyers moving into higher price points and will be a trickle UP effect! More price point reports later!

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