Have you heard about how is the Market doing?
Denver Real Estate Trends: 4Q 2014
In 2013, we saw strong growth in sales price and volume.
Tight inventory in 2014 and will not get better (from buyer’s point of view)
until later in 2015 (probably much later).
Average Price: Prices jumped +8.5% in 2012. 9% in 2013. This was driven by the lack of inventory
on the low and middle range of the market.
In 2014 prices rose 9%. Small
homes will continue, for at least one more year, to outpace most other size
categories, in our view.
Inventory: Inventory levels continue to stay low,
especially for smaller homes. This will
continue to drive price increases on the low end. With prices above pre-recession highs,
essentially all sellers can afford to list and sell their homes. Almost no one is “underwater” in Denver. Inventories should increase in 2015.
Denver still remains a
strong sellers market at all price points for at least another year.
Inventory levels are
still historically low.
Overall, the Denver home market had 1 month of inventory (MOI)
on 1/1/2015; a big decline since 2010.
There is less than 1 MOI on homes under 2,310 SF( that’s a very strong
seller’s market) 48% of inventory is under contract.
Small homes are generally selling at asking price or above, not at a discount.
Historically DSF (home) sales volume relative to population
has been stable, with the exception of a surge of transactions in 2003 and 2004. 2013’s performance was still 25% off the peak
in 2004!
Information and data provide by Your Castle real Estate. We believe that access to the best and most timely information can dramatically shape our decisions and no one does more research on the local housing than Your Castle. Today's consumer needs a trusted resource that can separate signal from noise and help them navigate the complex process that real estate has become. With our extensive knowledge in every aspect of the field, and fueled by consumer research and insights, we are the go-to source for information and education.
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For more information contact Lorena Arnold at Your Castle Real
Estate, LLC at Lorena@yourcastle.org or call 303-981-6539. If you want information specific to
your neighborhood, please let me know. www.Lorena.Yourcastle.org
