Denver Metro Market Snapshot for March 2010
Market data for the month of March was published by MetroList last Wednesday. The data for residential and condos is outlined below. Here are a few key points to consider about the data
Historically speaking, there are not a lot of homes on the market to sell. This is particularly true under $250K. If you were thinking about selling your home this spring and it’ll sell for under $250, the market is red-hot. Homes priced between $250-$350K is healthy for sellers, too.
Buyers are competing vigorously for the homes that are available. The number of under contract listings is +19% from this time last year, even though inventory is unchanged! We attribute most of the activity to the tax incentives.
Some of the volume increase is due to the fact that buyers were very inactive in January and February. YTD (Year to date) Denver sales volume for DSF is dead-even with 2009.
Many believe interest rates will rise during the course of the year. If mortgage rates go up 1% (could be more than that), your purchasing power will decline significantly.
The average DSF price in March ’10 was +9% from March ’09. This was a mix issue; since there are not many low end homes to sell, we’re selling more Cadillacs and fewer Chevy’s. Well, at least we’re selling Buicks.
The actual market data is summarized below:
- Inventory was 20,574 listings at the end of Mar 10
- Compared with prior month, available inventory is up 6%
- Even with same month, year ago
- Under contract listings were at 5,907 units
- Up 34% compared with prior month
- Up 22% compared with Mar 09
- Sales volume (units) totaled 3,602
- Up 48% compared to last month
- Up 12% compared to Mar 09
- Year to Date (YTD) Sales volume (units) totaled 8,391 compared to 8,159 units sold YTD 2009, an increase of 3%
- Average sales price was $248,905, even with prior month
- 7% increase from Mar 09, $232,395 avg price
Click Here to View Denver Energy Star Certified Homes For Sale
Contact Me Today For More Information
Or Call Me At 720-771-5594
Click Here to Search More Denver and Boulder County Homes For Sale
If you or someone you know is interested in buying or selling a home in Boulder County or anywhere in Denver Metro please call me. I can help you learn more about the area, and I can assist with all types of real estate transactions. I am also a Certified EcoBroker specializing in energy-efficient homes and environmental practices in real estate across the Front Range.
Please feel free to call me at 720-771-5594 or visit my website at E3GreenHOMES.com
Previous Post: Denver Metro HUD Homes
____________________________________________________________________________
John Thomas MSEE, MBA
(m) 720-771-5594 (e) john.thomas@e3greenhomes.com
__________________________________________
Buyers in this area will find this information very helpful.
I am so glad to see posts from across the country indicating that buyers are out and sales are increasing! I am even experiencing bidding wars again!!! Yahoo!