Low Rental Vacancies Yield 60% Rise in for Influx of Buyers

go to link Wow,  just read these two articles about the up coming projections for the housing market.   The first one talking about “60% of Single-Family renters Plan to Buy Within 5 years” gave weight to the article just published in the Denver Post about how “home prices rise 8.5%”.

payday loans like minicredit This year will be an exciting one in the business of Real Estate. If you ever thought of selling. Now is starting to be come that time!

Denver Neighborhoods – Cory Merrill

enter “Founded in 1858 to be a dry town because its citizens didn’t like the saloons that had taken over Denver.

go site By the 1920’s, the future Cory-Merrill neighborhood had been annexed by Denver.

click here It was dotted with farms, orchards and cattle. Area kids caught snakes in an area called The Swamp (now

http://condadotravel.com/?q=payday-loan-company-in-us Interstate-25).   In the late 1940s, Mr. Armstrong (who lived on Steele Street)  donated his farm land

to Denver Public Schools to replace the aging Coronado School. The school district built Cory Elementary

(left) and Merrill Junior High (right) – named after John J. Cory and Louise A. Merrill, two influential Denver educators.”

–Wikipedia

Cory-Merrill

Denver Neighborhoods – Congress Park

“The area was originally known as Cemetery Hill; named after the City Cemetery located in the area. In 1887, the city of Denver constructed a reservoir on land previously designated as part of the cemetery but never used as such, and by 1890 the cemetery had become a deterrent to growth in the eastern Capitol Hill neighborhood; so much so that Colorado Senator Henry Teller put forth a bill requesting the land be redesigned to a park. The graves were relocated and Congress Park was born. The original park encompassed lands that currently include Cheeseman Park, the Denver Botanic Gardens, and the Denver Water Board. In 1903, the area south of the reservoir to 8th Ave. became the city nursery supplying the growing city with the trees and flowers for its parks and parkways.”

–Wikipedia

Congress Park

METROPOLITAN DENVER REAL ESTATE STATISTICS AS OF JANUARY 31, 2013

Based Based
On Properties On Properties This report summarizes the sales of
Under Contract Closed residential real estate units during the
reported-on period. Please note:
This Month 4,431 2,953
Last Month 3,090 3,400 1) The reported units have been
Percentage Change + 43.4% – 13.1% adjusted for the calendar month
(as defined by MLS cut-off dates each
This Month, Last Year 3,486 2,470 month) in order to put such periods on
Percentage Change, + 27.1% + 19.6% a comparable basis.
Compared To This Year
2) Under Contract units reflect
Year to Date, This Year 4,431 2,953 those properties reported as “under
Year to Date, Last Year 3,486 2,470 contract” during the period – i.e., a
Percentage Change + 27.1% + 19.6% binding contract was executed
between buyer and seller.
3) Closed units reflect the passing
of title. The close date generally lags
30-90 days behind the under contract
UNSOLD HOMES ON THE MARKET: date and is often distorted by many
outside factors unrelated to the extent
This Month 7,094 of real estate activity.
This Month, Last Year 10,443
Percentage Change – 32.1%
This representation is based in whole or in part
This Month 7,094 on data supplied by Metrolist, Inc. Neither the
Last Month 7,706 member Boards of Realtors nor their MLS
Percentage Change – 7.9% guarantees or is in any way responsible for its
accuracy. Data maintained by the Boards or
WEEKLY SALES RATE: their MLS may not reflect all real estate activity
in the market.
This Month 14.43%
This Month, Last Year 7.71%
AVERAGE PRICE OF PROPERTIES CLOSED: Single
Family Condos Residential
This Month $274,754 $170,769 $301,827
Last Month $289,926 $186,877 $315,451
This Month, Last Year $248,037 $146,544 $272,328
Year to Date Average, This Year $274,754 $170,769 $301,827
Year to Date Average, Last Year $248,037 $146,544 $272,328
MEDIAN PRICE OF PROPERTIES CLOSED:
Condos Residential
This Month $140,050 $250,000
Last Month $142,000 $255,000
This Month, Last Year $113,000 $218,855
Year to Date Median, This Year $140,050 $250,000
Year to Date Median, Last Year $113,000 $218,855
The above representation may or may not reflect all real estate activity in the market.
© 2013 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not GuaranteedMETROPOLITAN DENVER REAL ESTATE STATISTICS
AS OF JANUARY 31, 2013
Snapshot Prior Prior
Jan, ’13 Month Year Ago Month Year Ago
Single Family (Residential + Condo)
Active 7,094 7,706 10,443 -7.94% -32.07%
Pending 1,489 1,464 1,680 1.71% -11.37%
Under Contract 4,431 3,090 3,486 43.40% 27.11%
Sold 2,953 3,400 2,470 -13.15% 19.55%
Avg DOM 78 73 104 6.85% -25.00%
Avg Sold Price $274,754 $289,926 $248,037 -5.23% 10.77%
Residential
Active 5,834 6,366 8,356 -8.36% -30.18%
Pending 1,180 1,168 1,341 1.03% -12.01%
Under Contract 3,535 2,442 2,838 44.76% 24.56%
Sold 2,343 2,725 1,993 -14.02% 17.56%
Avg DOM 80 75 103 6.67% -22.33%
Median Sold Price $250,000 $255,000 $218,855 -1.96% 14.23%
Avg Sold Price $301,827 $315,451 $272,328 -4.32% 10.83%
Condo
Active 1,260 1,340 2,087 -5.97% -39.63%
Pending 309 296 339 4.39% -8.85%
Under Contract 896 648 648 38.27% 38.27%
Sold 610 675 477 -9.63% 27.88%
Avg DOM 70 67 108 4.48% -35.19%
Median Sold Price $140,050 $142,000 $113,000 -1.37% 23.94%
Avg Sold Price $170,769 $186,877 $146,544 -8.62% 16.53%
Footnotes:
Active, Pending, Under Contract, and Sold presented as # of units.
Pending are those listings that are awaiting contract approval from a financial institution.
Avg DOM = Average Days on Market
This representation may or may not reflect all real estate activity in the market.
Source: Metrolist, Inc.
© 2013 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not GuaranteedMETROPOLITAN DENVER REAL ESTATE STATISTICS
AS OF JANUARY 31, 2013
% %
Snapshot – YTD Change Change
YTD 2013 YTD 2012 YTD 2011 12 vs ’11 12 vs ’10
Single Family (Residential + Condo)
Active 7,094 10,443 17,890 -32.07% -60.35%
Under Contract 4,431 3,486 3,147 27.11% 40.80%
Sold 2,953 2,470 2,156 19.55% 36.97%
Avg DOM 78 104 121 -25.00% -35.54%
Avg Sold Price $274,754 $248,037 $252,307 10.77% 8.90%
Residential
Active 5,834 8,356 13,714 -30.18% -57.46%
Under Contract 3,535 2,838 2,514 24.56% 40.61%
Sold 2,343 1,993 1,724 17.56% 35.90%
Avg DOM 80 103 120 -22.33% -33.33%
Median Sold Price $250,000 $218,855 $225,000 14.23% 11.11%
Avg Sold Price $301,827 $272,328 $277,922 10.83% 8.60%
Condo
Active 1,260 2,087 4,176 -39.63% -69.83%
Under Contract 896 648 633 38.27% 41.55%
Sold 610 477 432 27.88% 41.20%
Avg DOM 70 108 123 -35.19% -43.09%
Median Sold Price $140,050 $113,000 $124,995 23.94% 12.04%
Avg Sold Price $170,769 $146,544 $150,085 16.53% 13.78%
Footnotes:
Active, Under Contract, and Sold presented as # of units.
Avg DOM = Average Days on Market
This representation may or may not reflect all real estate activity in the market.
Source: Metrolist, Inc.
© 2013 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed

January 2013 Market Recap

Denver Home Market
January, 2013
General Market Narrative:
WOW, can we repeat January? The Denver area has not seen a January like the one that we just
finished for years and years and years. Inventory of homes available for sale @ 7,094 homes is the
lowest month end on record for the period of January, 1990 through January, 2013. The weekly sales
rate @ 14.43 is the highest on record for the same time period. January is traditionally slower than
December; but in this case, the number of homes placed under contract is up 43% month over month.
Other metrics such as closings and pricing are up month over same month last year and down month
over month. January is traditionally slower than December. It appears that the Denver home market
continues to show its strength. Many brokerages and Realtors® are reporting setting new records in the
month of January.
By the Numbers:
Single Family (defined as Residential plus Condo):
7,094 active listings at month end, 4,383 new listings came onto the market, 4,431 homes went under
contract, 2,953 homes closed, average days on market is 78, average sales price is $274,754, closed
dollar volume is $811 Million, and month’s supply of inventory is 1.82.
Residential: 5,834 active listings at month end, 3,467 new listings came onto the market, 3,535 homes
went under contract, 2,343 homes closed, average days on market is 80, average sales price is $301,827,
median sales price is $250,000, closed dollar volume is $707 Million, and month’s supply of inventory is
1.87.
Condo: 1,260 active listings at month end, 916 new listings came onto the market, 896 homes went
under contract, 610 homes closed, average days on market is 70, average sales price is $170,769,
median sales price is $140,050, closed dollar volume is $104 Million, and month’s supply of inventory is
1.63.

Denver Neighborhoods – City Park

“When Denver was founded in 1858, it was little more than a mining camp. By the 1870s however, Denver had gained a substantial permanent population, and many residents were clamoring for parks. In 1878, the Colorado state legislature passed a bill to allow Denver to acquire 1,280 acres (520 ha) of state land to build parks. City Park became the largest tract turned into a park. The initial park layout was designed by Henry Meryweather in 1882 in the tradition of both English pastoral gardens and Central Park in New York City with a flowing, casual design. The 1893 World’s Fair started the City Beautiful movement, which further developed the design. The park was irrigated with water from the city ditch.”

–Wikipedia

City Park

Denver Neighborhoods – City Park West

“17th Avenue and 18th Avenue cross the neighborhood from east to west and are busy, one-way streets that serve as an arterial to bring people in and out of downtown Denver. City Park is on the eastern border of the neighborhood. The neighborhood is dominated by single-family houses, apartment blocks, and medical offices. Two of Denver’s major hospitals are in the neighborhood: Exempla Saint Joseph Hospital and Presbyterian/St. Luke’s Medical Center.”

–Wikipedia

City Park West

Denver Neighborhoods – Cherry Creek

“Because Denver was first settled along the confluence of the South Platte River and Cherry Creek, the term “Cherry Creek” is often used in business names, i.e. Cherry Creek Dentistry, to designate their affiliation with the metropolitan Denver area. Many of these businesses are not, however located in the Cherry Creek neighborhood. The Cherry Creek School District which is located in western Arapahoe County, Colorado is also sometimes confused with the Cherry Creek neighborhood because of its name, in spite of it not being located in the Denver.”

–Wikipedia

Cherry Creek

Denver Neighborhoods – Chaffee Park

“Most of the neighborhood consists single-family housing units, with the exception of a few industrial buildings on the eastern edge of the neighborhood. Zuni Park is at the northern edge of the neighborhood, along the Adams County border. Here, 52nd Avenue is the northern border of the City and County of Denver. There is a city park named Chaffee Park, but it is in Sunnyside, the neighborhood south of the Chaffee Park Neighborhood. Also, Interstate 70 goes noisily through the neighborhood and serves as its southern border.”

–Wikipedia

Chaffee Park

Denver Neigborhoods – Cheesman Park

“In the late 19th century, the land that is now Cheesman Park was Prospect Hill Cemetery, which also included the land that is now the Denver Botanical Garden and Congress Park further east. The long-disused cemetery was converted to a park which opened in 1907, after city planners felt it would provide an amenity to new residents as land development moved east of the central city. The park was originally named for the US Congress who gave permission to change the cemetery to a park and was renamed Cheesman Park in honor of Denver pioneer Walter Cheesman whose family donated the funds for the neoclassical pavilion on the eastern side of the park in his honor shortly after his death”

–Wikipedia

Cheesman Park