denver re-sale news - sept 2009
DESCRIPTION
Denver Colorado Housing Report from Danyliw & AssociatesTRANSCRIPT
INVENTORY TRENDING LOWER!By John W. Danyliw CRB
September was another ho-hum month. No dramatic changes andnothing much that wasn’t expected.
Again, the positive side continues to center on the active listing inventory.We ended the month with 19,834 actives. That’s down 1.9% from Augustand down 17.1% from Sept. ’08. Getting under 20,000 is the best we’ve seenin many a moon. If we don’t get a new wave of foreclosures after the first ofthe year we’re going to be in good shape.
Under contracts were down less than 1% from the same month last year butstill down 12.5% from last year. The best activity still seems to be in the lowend with the $8000 tax credit coming to a close. There still may be somegood news here with a number of bills in Congress to extend some sort ofcredit. The National Association of REALTORS has been lobbing long andhard.
Cancellations are running a little on the high side but we think this is still dueto the short sale activity. A good number of these blow up due to lenderproblems and length of time to close. The median price of closed propertiesdropped from $227,000 last month to $225,000. This again is an indicator oflow-end activity accounting for more sales.
Traffic continues to be good in the lower prices and also with the oldergeneration. We’re seeing a number of older people wanting to move downinto low or no-maintenance properties primarily ranches. There are anumber of these that are still worried about selling their old house given theoverall economy. It looks like we’re seeing the younger buyers and the olderbuyers with the in between in more of the holding pattern.
The good news overall is that most economists have predicted we’ve prettymuch bottomed out but the recovery will take some time to build up somesteam.
As always, we thank you for your business.
SERVING THE METRO AREA
FOR OVER 40 YEARS
with Danyliw & Associates
John W. Danyliw CRB
[email protected] www.DenverHome-Listings.com
End of August. active inventory over the last (3) years.
34.6% Drop from 2007 to
200930,335
2007 23,9232008
19,8342009
September Month End Listing Inventory
UNSOLD HOMES ON THE MARKET*
This Month 19,834
This Month, Last Year, % Change
23,923-17.1%
Last Month to This Month % Change
20,225-1.9%
MEDIAN PRICE OF HOMES CLOSED*
Condos Single Fam.
This Month $145,000 $225,000
Last Month $144,500 $227,900
This Month 2008 $139,900 $216,150
Y-T-D 2009 $136,000 $218,500
Y-T-D 2008 $140,000 $224,900
RESALE HOMES UNDER CONTRACT*
This Month 5,228
Last Month
% Change
5,248
-0.4%
This Month, Last
Year, % Change
5,269
-0.8%
Y-T-D 2009 44,792
Y-T-D 2008
% Change
51,220
-12.5%
Volume 7, Issue 9As of September 30, 2009
RESALE HOMES CLOSED*
This Month 3,846
Last Month
% Change
3,905
-1.5%
Y-T-D 2009 31,554
Y-T-D 2008
% Change
37,401
-15.6%
* This representation is based in whole or in part on data
supplied by MetroList, Inc. Neither the member Boards of
REALTORS® nor their MLS guarantees or is in any way
responsible for its accuracy. Data maintained by the
Boards or their MLS may not reflect all real estate activity
in the market.
YOUR
LOCAL HOUSING
REPORT
with Danyliw & Associates
John W. Danyliw CRB
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
# o
f U
nit
sActive Inventory of Unsold Homes (Res + Condo)
as of Sept. 30, 2009
2002
2003
2004
2005
2006
2007
2008
2009
Sept. 30, 2009 = 19,834
December 31, 2000 = 8,820
December 31, 2001 = 12,382
Record High 31,989 6/30/06
0.5
9% 1
.77
%
1.6
4%
1.5
7%
3.7
0% 1
1.6
9%
20
.13
% 29
.43
%
21
.96
%
7.5
3%
5.1
4%
6.7
8%
3.8
6%
3.7
4% 1
0.1
6%
23
.95
%
19
.98
%
18
.81
%
5.6
1%
1.9
9%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
% of Sold properties by price range. September 30, 2009
RES
Condo
Have a question on Short Sales or Foreclosures? Visit our new website ShortSaleResource.netand post a question on our Forum.
* This representation is based in whole or in part on data supplied by MetroList, Inc. Neither the member Boards of REALTORS®
nor their MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Boards or their MLS may not reflect
all real estate activity in the market.
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