• Available inventory was at 17,784* units, up 6% compared with month ago figures
o Inventory was up 13% compared with same month, year ago
*Includes Active and Pending listings for historical trending purposes. See Market Intel reports for Pending count.
• Under contract listings are even with prior month at 3,162 units
o Down 29% compared to Jun 09
• Sales were down 6% from month ago to 3,227 units sold
o Compared with Jun 09, units sold decreased 3%
• YTD sales volume was at 16,506 units, up 7% compared with YTD 2009 sales of 15,432 units
• Average sales price was $299,375
o Up 10% with May 10, $273,285 avg price
o Up 6% versus Jun 09, $283,312 avg price
• Median sales price was $244,000, up 5% compared with prior month, and up 3% from Jun 09
• Average Days on Market (DOM) was at 81 days, a 20% decline from year ago
Tuesday, July 13, 2010
Monday, July 12, 2010
What's going on with the high-end Denver market?
The top 10% of the homes, pricewise, as those that sell for over $460K.
- The top 5% starts at $600K+.
- The top 1% of the most expensive homes sold are those over $1.125MM
I took a look at 1/1/2008 to 6/30/2010, for all of the solds that were reports in the MLS for the Denver metro area. So that doesn’t include Boulder, Ft Collins, Colorado Springs, or the mountain resort areas. Here’s what’s going on:
- Sales were up in 2Q 2010 vs. 2Q 2009 (+13%).
- The number of REO sales peaked in 1Q 2009, and has declined since then.
- The number of Short Sales has been climbing steadily since their 3Q 2008.
- For the first time, there were more luxury home S/S than REO sales in 2Q 2010.
If you look at the number of distress sales (S/S + REO) relative to the total number of sales, you see that the distress ratio is pretty consistently between 10 – 15% of the market.
Prices for luxury homes fell from $250 per square foot (2008) to $230 per square foot (most of 2009). They did recently increase +3% in 2Q 2010.
- While “regular” sales are around $239 / sq ft; distress sales sell at about a 20% discount. REO homes sold for $196 / sq ft and short sales sold for $201 / sq ft
- The top 5% starts at $600K+.
- The top 1% of the most expensive homes sold are those over $1.125MM
I took a look at 1/1/2008 to 6/30/2010, for all of the solds that were reports in the MLS for the Denver metro area. So that doesn’t include Boulder, Ft Collins, Colorado Springs, or the mountain resort areas. Here’s what’s going on:
- Sales were up in 2Q 2010 vs. 2Q 2009 (+13%).
- The number of REO sales peaked in 1Q 2009, and has declined since then.
- The number of Short Sales has been climbing steadily since their 3Q 2008.
- For the first time, there were more luxury home S/S than REO sales in 2Q 2010.
If you look at the number of distress sales (S/S + REO) relative to the total number of sales, you see that the distress ratio is pretty consistently between 10 – 15% of the market.
Prices for luxury homes fell from $250 per square foot (2008) to $230 per square foot (most of 2009). They did recently increase +3% in 2Q 2010.
- While “regular” sales are around $239 / sq ft; distress sales sell at about a 20% discount. REO homes sold for $196 / sq ft and short sales sold for $201 / sq ft
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