Well, it looks like warm weather (warmer than last year), lowered interest rates and increased showing activity brought people into the market, by the MEGATON!!!
Here are some of the highlights:
- The overall market swung wildly from 5.7 months of inventory to 7.0 months of inventory. WOW!
- HOWEVER, ALL markets surveyed below showed a Seller's Trend (which is based on the change in the current month vs. the 12 trailing months' historical average).
- Overall, the Under Contract volume was up 62% compared to the 12 months' trailing monthly average.
- Total Active Listings - UP 31.6%
- February - 16,997
- March - 22,382
The overall market composite shifted in the following manner:
| | Sellers' | Neutral | Buyers' | Total |
| Feb-08 | 12 | 6 | 1 | 19 |
| Mar-08 | 8 | 4 | 7 | 19 |
| Chg | (4) | (2) | 6 | 0 |
There were too many notable swings to be meaningful in such a short summary. However, here is a sample of the largest listing inventory changes:
- Castle Rock - From 760 active listings in February to 1,070 in March
- Denver - From 3,796 active listings in February to 5,062 in March
- Golden - From 383 active listings in February to 608 in March
- Greenwood Village - From 53 active listings in February to 162 in March
- Highlands Ranch - From 334 active listings in February to 464 in March
- Lakewood - From 508 active listings in February to 646 in March
- Littleton - From 746 active listings in February to 1,011 in March
- Parker - From 630 active listings in February to 877 in March
- Westminster - From 557 active listings in February to 705 in March
Those are some HUGE changes!
For more information about your specific area, please contact me here.
| Market Trend Analysis - Denver Metro Selected Towns/Cities |
| |
| Based on information from Metrolist, Inc. for period February 2, 2008 until March 2, 2008. |
| Single Family Residences - All Price Levels |
| Excludes Housing Not Listed in MetroList |
| |
| Note: Six (5.5 to 6.5) Months of Inventory Tends to Indicate Neutral Market, Over 6.5 Months a Buyer's Market, Under 5.5 Months a Seller's Market |
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| Locale | Active Listings | 12 Months Sold | Sold per Month (Avg) | Months Inventory (MOI) | Current Mkt State | Under Contract | Sales Trend | Sales Trend Chg.% |
| Arvada | 615 | 1,428 | 119.0 | 5.2 | Seller's Market | 172 | Seller's Trend | 45% |
| Aurora | 2,514 | 4,709 | 392.4 | 6.4 | Neutral Market | 732 | Seller's Trend | 87% |
| Boulder | 103 | 290 | 24.2 | 4.3 | Seller's Market | 38 | Seller's Trend | 57% |
| Broomfield | 350 | 802 | 66.8 | 5.2 | Seller's Market | 89 | Seller's Trend | 33% |
| Castle Rock | 1,070 | 1,399 | 116.6 | 9.2 | Buyer's Market | 157 | Seller's Trend | 35% |
| Denver | 5,062 | 8,813 | 734.4 | 6.9 | Buyer's Market | 1,343 | Seller's Trend | 83% |
| Erie | 209 | 307 | 25.6 | 8.2 | Buyer's Market | 47 | Seller's Trend | 84% |
| Golden | 608 | 704 | 58.7 | 10.4 | Buyer's Market | 78 | Seller's Trend | 33% |
| Greenwood Village | 162 | 160 | 13.3 | 12.2 | Buyer's Market | 14 | Seller's Trend | 5% |
| Highlands Ranch | 464 | 969 | 80.8 | 5.7 | Neutral Market | 133 | Seller's Trend | 65% |
| Lafayette | 77 | 197 | 16.4 | 4.7 | Seller's Market | 24 | Seller's Trend | 46% |
| Lakewood | 646 | 1,414 | 117.8 | 5.5 | Seller's Market | 149 | Seller's Trend | 26% |
| Littleton | 1,011 | 2,960 | 246.7 | 4.1 | Seller's Market | 250 | Seller's Trend | 1% |
| Louisville | 22 | 100 | 8.3 | 2.6 | Seller's Market | 19 | Seller's Trend | 128% |
| Northglenn | 200 | 406 | 33.8 | 5.9 | Neutral Market | 62 | Seller's Trend | 83% |
| Parker | 877 | 1,645 | 137.1 | 6.4 | Neutral Market | 194 | Seller's Trend | 42% |
| Superior | 31 | 127 | 10.6 | 2.9 | Seller's Market | 11 | Seller's Trend | 4% |
| Thornton | 812 | 1,666 | 138.8 | 5.8 | Neutral Market | 272 | Seller's Trend | 96% |
| West-minster | 705 | 1,280 | 106.7 |
