Statistics

Denver Real Estate Market Graphs

In the never ending attempt to understand and predict the market for the benefit of our clients, the available inventory is an important statistical marker.  The accompanying graph shows the total inventory of detached homes (single family) and attached (condos, lofts) available in the 7 county Metro Denver market.  The reader will note that the inventory continues to remain low in relation to previous years. However, the “market” is bifurcated with regard to price range, and split into many other geographic sub-markets.  The bifurcation is present because of the large number of first time buyers taking advantage of the tax credit and low interest rates, and investors buying while prices are low.  In general, the Metro Denver market is very much a sellers market for most areas priced under $300,000, and a buyers market for properties priced above $300,000.  While the graph is useful in a “macro” sense, understanding the local market for your sale or purchase requires considerably more narrowly focused research on the part of your agent.

The market is starting the year a bit sluggish.  The expectation is that the Metro Denver market will improve as we move into spring.

The average price of single family homes in the Metro Denver area continues to rise.  The January low point was consistent with previous years, and early anecdotal information indicates that March prices will continue to show improving averages.

The absorption rate rose a bit in February.  We will need a few months of 2010 data to get a handle on this important indicator of sales vs. inventory.

The median price continues to improve along with the average price.