Tuesday, May 19, 2009

Denver Real Estate Market is SHRINKING! Fewer Deals!

Over the last 6 months I have been surprised that the market has been much more competitive than in the past 2 years, especially when representing BUYERS in the purchase of their new home. Most Buyers have been required to make offers on more than one home as you will see below. I researched data from each of the south geographic areas of town as defined by the local Denver Multiple Listing Service, Metrolist:

100k-250k Area active/u/c = month's supply (previous month)
(AUS) Aurora South 508/415 1.2 (1.4)
(DNW)Denver Northwest* 125/93=1.3 (2.5);
(DSE)Denver Southeast 257/128=2.0(2.2)
(DSW)Denver Southwest 446/309=1.4(1.85)
(DEP)Douglas County Parker Elbert County 143/94=1.5(1.7)
(DCW)Douglas County Castle Rock West 201/96 =2.1(2.8)
(DHL)Douglas County Highlands Ranch Lone Tree 58/55=1.1(1.2)
(JFS)Jefferson County South 143/108=1.3(1.2)
(SSC)South Suburban Central 171/140=1.2(2.0)
(SSE)South Suburban East 34/24=1.4(3.3)

250.1k -350k active/u/c = month's supply (previous month)
Aurora South 180/72=2.5(4.3)
Denver Northwest* 127/55=2.3(3.3) (not really south);
Denver Southeast 362/147=2.5(3.4)
Denver Southwest 127/33=3.8(4.3)
Douglas County Parker Elbert County 265/95=2.8(3.0)
Douglas County Castle Rock West 239/61=3.9(3.8)
Douglas County Highlands Ranch Lone Tree 236/96=2.5(2.2)
Jefferson County South 193/58=3.3(3.8)
South Suburban Central 137/42=3.3(4.3)
South Suburban East 129/46=2.8(4.0)

As you can see from the previous month's data the inventory of homes available to buy in south Denver continues to shrink. My continued comment is the Denver market is shrinking and there are very few “deals” left. If you want to take advantage of the tax credit, or just make a move, please do not wait. The bottom of the Denver market is behind us.

To see the previous 2 months reports click here for April and here for March.

For "NEW LISTING" statistics by month and year for Denver click here

Click to see Denver Property Sales Data by month and year

Since 1985 I have been working for you and your friends, getting ready to help you learn about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Parker, Denver, Elizabeth, Larkspur, Franktown, Kiowa, or Englewood, Colorado. We offer real estate advice, properties for sale, Buyer Agency, multiple listing service, Seller property listings, mls, all available at www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

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