| 2008 | 2009 | |||||||||||||||||||||||||
| Mar-08 | Apr-08 | May-08 | Jun-08 | Jul-08 | Aug-08 | Sep-08 | Oct-08 | Nov-08 | Dec-08 | Jan-09 | Feb-09 | Mar-09 | Apr-09 | May-09 | Jun-09 | Jul-09 | Aug-09 | Sep-09 | Oct-09 | 9-Nov | Dec-09 | Jan-10 | Feb-10 | Mar-10 | Apr-10 | |
| Total Sales | 1214 | 1288 | 1453 | 1444 | 1500 | 1377 | 1460 | 1362 | 1118 | 1177 | 934 | 950 | 1135 | 1145 | 1166 | 1218 | 1211 | 1082 | 1042 | 1059 | 900 | 749 | 648 | 726 | 1002 | 1147 |
| Average Days On Market | 94 | 94 | 96 | 89 | 88 | 87 | 84 | 76 | 79 | 77 | 85 | 86 | 87 | 83 | 88 | 83 | 77 | 72 | 75 | 63 | 57 | 59 | 63 | 63 | 68 | 65 |
| Average Sold Price | $140,539.00 | $138,668.00 | $136,034.00 | $136,178.00 | $135,182.00 | $136,510.00 | $136,933.00 | $131,047.00 | $132,691.00 | $130,443.00 | $127,713.00 | $132,898.00 | $132,715.00 | $134,310.00 | $139,964.00 | $143,536.00 | $144,584.00 | $144,667.00 | $147,069.00 | $149,505.00 | $150,804.00 | $141,871.00 | $140,696.00 | $144,449.00 | $147,474.00 | $152,513.00 |
| Average Net Sold Price | $137,946.00 | $135,675.00 | $133,508.00 | $133,543.00 | $132,736.00 | $133,730.00 | $133,765.00 | $129,062.00 | $130,731.00 | $128,526.00 | $125,564.00 | $130,974.00 | $130,089.00 | $132,232.00 | $137,460.00 | $141,042.00 | $142,023.00 | $142,146.00 | $144,382.00 | $147,155.00 | $147,857.00 | $139,411.00 | $138,793.00 | $142,098.00 | $144,885.00 | $149,752.00 |
| Average Price per Sq. Ft | $111.00 | $111.00 | $109.00 | $251.00 | $222.00 | $109.00 | $110.00 | $106.00 | $106.00 | $103.00 | $99.00 | $103.00 | $103.00 | $106.00 | $112.00 | $116.00 | $116.00 | $117.00 | $119.00 | $121.00 | $122.00 | $113.00 | $118.00 | $121.00 | $123.00 | |
| Average Price per finished SQ FT. | $95.00 | $96.00 | $93.00 | $94.00 | $153.00 | $92.00 | $93.00 | $90.00 | $90.00 | $87.00 | $86.00 | $88.00 | $86.00 | $90.00 | $95.00 | $98.00 | $99.00 | $99.00 | $101.00 | $103.00 | $104.00 | $101.00 | $97.00 | $99.00 | $101.00 | $103.00 |
Source: Metrolist. Data retrieved on 5/26/2010.
DATA INTERPRETATION: Seasonal adjustments are likely responsible for the significant decline in values between November and December dates. The first four months of 2010 showed steady increases in both the number of homes sold each month and the price per square foot. With the expiration of the tax credit, buyers will now anxiously await to see how the market fairs withouth the government incentives. May and June sales should continue to be strong because of the lag between he expiration of the tax credit and the required closing date. We will await to see what happens in July. There are currenty 4.11 months of inventory of properties on the market in this price range. This means the market is relatively balanced and does not necessarily benefit either buyer or seller.
| Denver Metro Housing - Detached Single Family Homes that sold between 210 and 400k (March to October 2009) |
|||||||||
| Mar-09 | Apr-09 | May-09 | Jun-09 | Jul-09 | Aug-09 | Sep-09 | Oct-09 | Nov -09 | |
| Total Sales | 784 | 901 | 1014 | 1238 | 1256 | 1063 | 972 | 987 |
805 |
| Average Days On Market | 103 | 90 | 89 | 85 | 86 | 87 | 79 | 85 |
67 |
| Average Sold Price | $280,430.00 | $281,634.00 | $283,109.00 | $284,797.00 | $284,064.00 | $282,520.00 | $280,203.00 | $277,001.00 | $277,021.00 |
| Average Net Sold Price | $277,467.00 | $277,249.00 | $279,820.00 | $281,683.00 | $280,923.00 | $279,193.00 | $276,877.00 | $273,408.00 | $273,031.00 |
| Average Price per Sq. Ft | $155.00 | not available |
$158.00 | $163.00 | $162.00 | $158.00 | not available |
$164.00 | $161.00 |
| Average Price per finished SQ FT. | $129.00 | not available |
$129.00 | $132.00 | $135.00 | $132.00 | not available |
$133.00 | $130.00 |
Source: Metrolist. 10/21/2009. October data retrieved on 11/9/2009. November data retrieved on 12/7/09.
DATA INTERPRETATION: This section of the market encompassing homes priced between 210k and 400k has been relatively flat through the year. November saw another overall decline in home values in this price range. With the extension and expansion of the first time homebuyer tax credit, values in this section of the market may increase. Step-up buyers should now be entering the market and this is the price point where many will be.
For buyers, there may be some opportunity to negotiate a little bit, but this is a relatively balanced market. Huge discounts off the asking price are probably not reasonable, but a small discount and closing cost assistance should be relatively attainable.
Written by:
Ben Grisinger5280 HomesManaging Broker / Owner720-936-4449 (direct)720-457-3890 ext 1 (office)ben@my5280homes.comData is included from the following Metrolist search areas: AUN, AUS, DEP, DHL DNE, DNW, DSE, DSW, DTD, ESN, ESS, JFC, JFN, JFS, JFW, JNC, JSC, NNE, NNW, NSC, NSE, NSW, SSC, SSE
