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

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One of the most effective ways to be environmentally conscious and save money is to swap out those outdated incandescent bulbs for CFLs.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!

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

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.

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.

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

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)

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.

 

Please feel free to contact me if you are considering selling your Denver home.

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

Read the full stories:

Colorado Unemployment Drops to 8.1%; Jobs up 8,800: Colorado’s unemployment rate dropped again in October, to 8.1 percent, the lowest rate in more than 2-1/2 years, as the state added 8,800 nonfarm payroll jobs, the highest monthly gain since early 2007, the Colorado Department of Labor and Employment reported Tuesday.  read more here

Colorado Small-Business Jobs up 0.5% in November: Employment by Colorado small businesses grew 0.5 percent in November from the previous month, according to a report November 29th from Intuit Inc. read more here

Forbes Rates Colorado 5th-Best State for Business: Colorado ranks as the nation’s fifth-best state for business and careers in the latest annual report by Forbes, posted Tuesday. read more here

Foreclosures Drop in Denver Metro Area: Foreclosure filings and sales continue to drop in the Denver metro area, including Boulder and Broomfield counties, according to the latest report from the Colorado Division of Housing. read more here

Existing Home Sales Edge Higher in October: Homebuyers scooped up more previously owned homes in October, slowly putting a dent in the huge inventory on the market, an industry report showed Monday.  Sales of existing homes rose 1.4% last month to an annual rate of 4.97 million homes, up from a downwardly revised 4.90 million homes in September; the National Association of Realtors reported November 21^st. read more here

Owning a Home is Less Expensive Than Renting: Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities. read more here

Noble Energy Joins Anadarko in Plans to Spend Billions in Niobrara, Colorado: Anadarko Petroleum Corp. isn’t the only Texas oil company planning to spend billions of dollars on Colorado’s Niobrara oil field in the next few years – Noble Energy Inc. said November 16^th it also plans to invest heavily in the play. read more here

DaVita to Open Research, Call Centers in Denver Area: DaVita Inc. will open a new research center and call center in the Denver area, bringing 200 jobs to the region, the company announced November 17^th. read more here

Rockies Roll into Grand Junction: Since 1958, Suplizio Field in Grand Junction, Colo., has served as the home of the Junior College World Series. In 2012, the venerable facility will host Minor League Baseball for the first time. The Grand Junction Rockies, Rookie-level affiliate of the Colorado Rockies, were formally introduced at a press conference November 15^th. read more here

Thank you to Jim Renshaw at Land Title for gathering these news headlines.

Residential Highlights

• 15.2% Increase in closed sales year over year
• 39.4% Decrease in Absorption Rate (4.7 months)
• 33% Decrease in active listings (10,213)
• 2% Decrease in average sold price ($275,951)

Condo/Townhome Highlights

• 14.5% Increase in closed sales year over year
• 47.9% Decrease in inventory (2,421)
• 7% Decrease in average sold price ($153,526

Denver Metrolist Inc. (MLS) statistics for November 2011

See additional Denver neighborhood statistics at:  Denver Real Estate Update by Area

Although the inventory isn’t has abundant as a year ago, the Denver real estate market continues to remain especially appealing for buyers as interest rates remain low.  If the pattern continues into December, home sellers can look forward to less market competition and shorter days on market.

Feel free to contact me to discuss your Denver or suburban real estate needs.  Thank you to Jim Renshaw at Land Title for organizing these MLS statistics into easy to read charts.

See the full picture for Denver closings from Metrolist:

Click Here for Total MLS Sales Statistics

*These statistics come from Denver MetroList Inc. and are deemed reliable but not guaranteed.

Feel free to contact me for an analysis of how your Denver or suburban home is doing in today’s real estate market.

[Show as slideshow]

[View with PicLens]

Click on the Weatherstone neighborhood or BackCountry neighborhood to learn about two lovely areas in Highlands Ranch Colorado.  Feel free to contact me if you are interested in learning more about real estate in Denver or the surrounding suburbs.