re-sale news
DESCRIPTION
December 2009 - Danyliw & AssociatesTRANSCRIPT
2010 is looking a lot more positive.By John W. Danyliw CRB
Kick out the old and bring in the new. 2009 went pretty much asexpected. Under contracts in Dec. were down 12.1% from Nov. asmany of the $8,000 tax credit buyers stopped before they knew therewas an extension and also the Holidays factored in. The tax creditbuyers were also responsible for December’s 7.9% decrease overDecember of ’08. The year ended down 10.3% compared to ’08.Closings were down 12.1% for the year compared to ’08, probably dueto increased cancellations in the short sale area.
So much for the old. Now for the new. From everything we can tell weshould start picking up steam in 2010. Nostradamus said so. NAReconomists are predicting an increase in re-sales. Builders areprojecting an overall increase. The tax credits will help start the year inthe right direction along with all time lows in interest rates. All in alleveryone is looking for a more productive 2010.
The active listing inventory continues to be the glowing segment of themarket. We’re starting 2010 with 16,456 active listings, down 16%from this time last year and a far cry from the 32,000 in June of ’06.This is starting to have an impact on our average sales prices, whichare on the upswing. $281,756 in Dec. compared to $265,498 inNovember.
Most of the activity still seems to be in the lower price ranges as firsttimers and investors still search for the short sale and REO bargains.We still feel there is a “shadow inventory” of REO properties thatbanks have not released yet to the marketplace. These will continue topump up low-end activity.
Bottom line is that 2010 is looking a lot more positive than this time in2009. It looks like we are starting to shift to a higher gear. We’re due.Thank you for you business. We do appreciate it.
SERVING THE METRO AREA
FOR OVER 40 YEARS
with Danyliw & Associates
John W. Danyliw CRB
[email protected] www.DenverHome-Listings.com
End of November active inventory over the last (3) years.
33.1% Drop from 2007 to
200924,603
2007 19,6002008
16,4562009
November Month End Listing Inventory
UNSOLD HOMES ON THE MARKET*
This Month 16,456
This Month, Last Year, % Change
19,600-16%
Last Month to This Month % Change
18,061-8.9%
MEDIAN PRICE OF HOMES CLOSED*
Condos Single Fam.
This Month $131,000 $221,000
Last Month $135,900 $218,000
This Month 2008 $125,000 $196,000
Y-T-D 2009 $135,000 $219,000
Y-T-D 2008 $138,000 $219,900
RESALE HOMES UNDER CONTRACT*
This Month 3,028
Last Month
% Change
3,444
-12.1%
This Month, Last
Year, % Change
3,286
-7.9%
Y-T-D 2009 56,174
Y-T-D 2008
% Change
52,647
-10.3%
Volume 7, Issue 12As of December 31, 2009
RESALE HOMES CLOSED*
This Month 2,959
Last Month
% Change
3,599
-17.8%
Y-T-D 2009 42,070
Y-T-D 2008
% Change
47,837
-12.1%
* 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 Dec. 31, 2009
2002
2003
2004
2005
2006
2007
2008
2009December 31, 2000 = 8,820
December 31, 2001 = 12,382
Record High 31,989 6/30/06
Dec. 31, 2009 = 16,456
0209
05
0406 07
03
0.93
% 2.0
6%
1.43
%
1.64
%
3.96
% 12.5
9% 19.5
9%
27
.46
%
20.1
3%
10.1
9%
7.08
%
8.18
%
4.72
%
6.29
% 12.4
2%
21.8
6%
15.4
1%
15.5
7%
5.66
%
2.83
%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
% of Sold properties by price range. December 1-31, 2009
RES
Condo
Have a question on Short Salesor 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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