The real estate business is heating up in the Denver Metropolitan area. Just like most real estate markets,  it’s market fluctuations are driven by the local market, not the national trends that seem to make the evening news. While home sales are not keeping up with 2007 market numbers, desirable homes that are priced competitively in the market are still performing relatively well.

The following current statistics give us a little better picture of where the bright spots are in the Denver area real estate market up to March 2008.

Littleton Real Estate Stats for the month of March indicate that it was the strongest month in sales out of the past 4 months. With a 154 homes selling, inventory has tightened slightly with 310 homes being listed in the same month. This translates to a two month supply if no new listings were added to the market.

The Centennial Real Estate market is tracking very similar to the Littleton real estate market. Centennial experienced 89 homes sold and 199 new homes were listed. Once again we are seeing just over a two month supply whereas in January we were looking at almost a 3 1/2 month supply of homes on the market.

In Highlands Ranch we have seen the greatest number of homes listed in February that Highlands Ranch has seen in the previous 12 months pegging the charts at 288 homes listed. Even with the additional inventory that has come on the market, the supply is down to about 2 1/2 months as 95 homes were sold in March.

The Denver Real Estate market is the largest demographic, however, it remains as a steady barometer on our local housing market. In March we seen the highest record of new listings over the past 12 months as 1,062 homes were listed. One might get a little nervous to see the market get flooded like that, but the buyers have responded and they picked up 476 of the homes that were on the market.

In closing, the Denver area real estate market has seen about a 10% decline in real estate transactions over the previous 12 months. However, with the supply running anywhere from 2-3 months out and the price per square foot is trending upward, the Denver market is much stronger that one might think if you were to only watch the evening news.

 

 

 

 

This entry was posted on Thursday, April 17th, 2008 at 11:16 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.