Denver CO. Real Estate Statistics for April

The Denver real estate market continues to rocket along with a year-over-year 10.54% increase in average home prices — combining single family and condos.  Separately, single-family home prices increased by 9.83% from a year ago, with an average sold price of $298,712.  The average days on the market also decreased by 19.64% when measured against April of 2011.

Denver Condo and townhomes prices fared equally well over the past year.  The average sold price increased by 12.49% to an average of $178,231.  The average days on market decreased by 26.02% when compared to last year.

This band chart shows that month-over-month Denver housing indicators are also showing promise:

Single Family and Condo Sales:

When homes are broken down by price ranges, it becomes clear that the lower price points are showing the most activity, with movement also occurring in the mid range of 300 to $499,999.  Bidding wars are the new norm in Denver in homes under 299,000 that are priced properly and in decent condition.

Denver Home Activity by Price:

Please feel free to contact me with any questions about the Denver real estate market.

Michelle A. Potter, REALTOR in Denver
303-489-4035

Share

Green Home Retrofits

By Andrew Hill @ http://newhomes.move.com/

Going green- what was once a hot topic is now becoming part of our cultural identity. Some may change their habits and recycle more often while others may opt to buy a hybrid instead of a gas-guzzler. But whatever your preference is, there is much to be said about going green. This isn’t simply an environmentally conscious choice. Contrary to popular belief, living green is also a great way to save money. The following are a few eco-friendly retrofits for your Denver home that can help you go green and pad your wallet at the same time.

One of the most effective ways to be environmentally conscious and save money is to swap out those outdated incandescent bulbs for CFLs. Not only are these made with the environment in mind, their energy consumption is far less than other bulbs while their lifetime is considerably longer, meaning a further reduction in energy consumption. And for those that are opposed to the strange, twisted white lights, CFLs now comes in a variety of shapes and colors, so there’s no reason not to make the switch. Be sure to check these off the list next time you head to the hardware store.

While you are perusing those hardware aisles, why not pick up some low-flow faucet heads? These attachments are easy to install and will reduce the consumption of excess water. These can be used in the bathroom, kitchen, shower, you name it! And in case you are worried reducing your water pressure, there are attachments that are designed specifically to keep the pressure but cut the waste.

If you’re in the building phase, a great way to reduce your energy consumption is to design your home with the climate in mind. For example, a builder in Arizona should design his home with smaller windows to reduce the amount of heat absorbed. Likewise, if you live in Colorado, you’d want to have large windows to capture as much heat as possible throughout the day. But no matter what phase you’re in, making your home greener will always be rooted in logical solutions aimed at reducing consumption and/or making your home healthier.

Going green in your home doesn’t have to mean switching entirely to weathervanes or heating your house entirely through solar power. It’s all about being smart with your resources. And seeing as we have the technology to reduce our consumption, why wouldn’t we opt to save some money and the planet? For more information on your Denver real estate market, be sure to contact Michelle Potter!

Share

Denver Real Estate – Market Statistics for March

The Denver real estate market is continuing to move in the right direction. According to the Denver MLS statistics for March, condos and single-family home prices increased both month-over-month and year-over-year. The current average single-family home price for Denver is $284,035 – an increase of 3.71% over the same period last year. Average condo prices increased by 1.25% over the past year to $161,848.

Additional indicators signaling market improvement are the decreasing days on market. This, combined with significantly fewer homes on the market than last March, is creating fever in the lower price point. Every offer I have submitted in the past two months under $300,000 has been a multiple offer situation.

Denver Residential Statistics by Price Point:

The band chart reflects where the most movement in the market is occurring.  There are only 10.75 weeks of inventory in homes priced in the $200-299,00 price range.  From what I have seen, if the home is priced correctly and in good shape, it goes much quicker than this number suggests.  As noted last month, this creates a nice opportunity if one is considering selling a Denver home.

Please feel free to contact me with any questions about the Denver/Denver suburban real estate market.

Michelle A. Potter, REALTOR in Denver
303-489-4035

Share

Denver Real Estate – Market Statistics

­­­­The Denver real estate market continues to show year over-year momentum as the number of single-family homes sold in February increased by 11.75% from the previous February.  While month-over-month comparisons were down by a mere .75%, additional indicators — such as decreasing days on market –showed noticeable improvements in both year-over-year and month-over-month categories.

Denver condo/townhome sales also improved during the same time frame by 12.6% with a month-over-month increase of 8.39%.  The average days on market decreased from February of 2011 by 21.71%.  Condo/townhome average prices increased by 21.71% from a year ago, to the $161,143.

 

Market Statistics for Dever homes.

Denver Residential Statistics by Price Point:

This price band chart captures where the activity is occurring.  When priced properly, the under $299,999 sector is moving quickly.  This movement, combined with the ridiculously low inventory (down 41.89% in combined condos and single family homes from a year ago) make it an opportune time to sell a property in this price point.

Denver real estate statistics by price point.

Please feel free to contact me with any questions on the Denver (or suburban) real estate market.

Michelle A. Potter, REALTOR in Denver
303-489-4035

Share

Denver Real Estate – Market Statistics for January

The Denver real estate market gained traction with a January year-over-year 15.5% increase in closed residential transactions in comparison to last year at the same time.

Denver condo/townhomes also showed a significant year-over-year uptick, with a 10.4% increase in closings. The average residential home price is at $272,328 – a 2% decrease from last January.   Condo/townhomes average home prices dropped to $146,544 – a 2.4% decrease from January of 2011.

Inventory is still sparse with a 39.1% drop in Denver homes from a year ago.  Condo/townhomes inventory also dropped by a significant  50% from the previous January.

Residential Highlights

  • 15.5% Increase in closed sales year over year
  • 45.1% Decrease in Absorption Rate (4.4 months)
  • 39.1% Decrease in active listings (8,356)
  • 2% Decrease in average sold price ($272,328)

Condo/Townhome Highlights

  • 10.4% Increase in closed sales year over year
  • 50% Decrease in inventory (2,087)

2.4% Decrease in average sold price ($146,544)

Denver Real Estate Market Statistics for January

Feel free to contact me if you are interested in buying or selling real estate in Denver. Thank you to Jim Renshaw at Land Title for providing these statistics.

Michelle A. Potter, Licensed Realtor in Denver
303-489-4035
 
Share