December's Housing Inventory Report - Denver CO
Denver's housing 'inventory' declined again last month, but not dramatically. The upper-price ranges for single-family homes showed the most dramatic swing, but since the bulk of the housing stock resides in lower-priced homes, the actual decline wasn't that great.
In the condo and multi-family market inventory is rising. Earlier this year the lowest price ranges were hot as a pistol, but the market has cooled and those inventories appear to be recovering.
One unexpected surprise was last month's surge in sales for more expensive condos, lofts, and townhomes over $600,000. All but one price bracket dropped by a large percentage, which is great news for high-end condo sellers who've had a hard year with the oversupply in their market.
It'll be pretty interesting to see if inventory levels move dramatically upward in January. If I were to make a bet, a large number of homes and condos will probably return to the market after many sellers return from holiday mode.
Stay tuned for next month's market inventory report.
SINGLE FAMILY HOMES
Active Listing Inventory - Declining For Most Price Ranges
CONDOS, TOWNHOMES, LOFTS
Active Listing Inventory - Becoming Scarce Under $300,000
HOUSING INVENTORY - DENVER CO
Homes And Condos Combined At Lowest Level 5 Years Running
The charts above are based upon "averages." Some homes will sell more quickly, and others may take much longer. The actual results you experience is determined by 1) your price; 2) your location; 3) your appeal; 4) the marketing program of your real estate agent.
RULE OF THUMB BY PRICE RANGE:
- Sellers Market = less than 4 months supply of homes
- Balanced Market = 4 to 7 months supply of homes
- Buyers Market = over 7 months supply of homes
Average Home Prices Denver CO
Statistical data sampled on December 27, 2011. Data provided by Metrolist.
Originally Posted at: denver housing inventory
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