Denver Foothills Real Estate Market Update June 2017

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Denver Foothills Real Estate Market News June 2017

I might as well just copy and paste the last 3 months of market news right here and just change the date. Inventory is still just low as can be. Last month in my Denver Foothills Market News Video I explained just how low inventory was and unfortunately we have not seen much of an uptick in the last few weeks. The first set of data I would like to share is the chart below with days on market (DOM) and number of active listings. If you look at July of 2012, AKA the good 'ol days, you will see we had 1,134 active listings. We currently have about 20%..yes I said 20% of that in active listing right now with about 218 listings in the Denver Foothills at the time this blog was written. Keep in mind these are listings for Evergreen, Conifer, Morrison and Bailey. Even last year the most active listings were in August with 423 units on the market.

MonthDOM, AverageActive Listings, Number of
Jan 2012140974
Feb 2012135933
Mar 2012154933
Apr 2012151990
May 20121141,091
Jun 20121101,125
Jul 2012871,134
Aug 2012991,096
Sep 20121101,044
Oct 201283959
Nov 201281866
Dec 2012154789
Jan 2013127692
Feb 2013103694
Mar 2013130674
Apr 2013104738
May 201370854
Jun 201358928
Jul 201382923
Aug 201356884
Sep 201367771
Oct 201363638
Nov 201383495
Dec 2013127409
Jan 201497364
Feb 201486361
Mar 201474406
Apr 201478441
May 201474508
Jun 201451547
Jul 201437555
Aug 201444539
Sep 201452481
Oct 201466438
Nov 201464351
Dec 201476305
Jan 201572258
Feb 201579256
Mar 201573262
Apr 201551304
May 201537355
Jun 201530411
Jul 201530478
Aug 201533453
Sep 201536418
Oct 201553361
Nov 201543298
Dec 201561235
Jan 201646208
Feb 201658207
Mar 201649253
Apr 201652301
May 201633322
Jun 201623389
Jul 201628413
Aug 201626423
Sep 201633389
Oct 201641334
Nov 201640268
Dec 201656234
Jan 201762190
Feb 201751192
Mar 201750227
Apr 201729218

This next chart is the same story as the last few months. At least as far as number of listings in the Denver Foothills. There is a slight contradiction in the supply and demand. Seems like buyers took a little break (as they usually do) over the winter months this year. If you see the decline in inventory from August to pretty much March but the DOM rose. Usually (in a seller's market like we have now inventory and DOM usually go hand in hand. Meaning since inventory was declining so should the  DOM. Again this might just be the seasonal cycle we usually see but still the two should be more closely related.

Active listing and DOM 12 month

The next chart is the average sale price (green) and the average list price (blue). You will notice that the average sale price has been hovering around 500K all year. Keep in mind we have a very small number of sales the last year compared to years past but it seems like prices are going to hold for the near future. We were hoping to get some more inventory this summer and that would certainly help confirm the current market levels. It would be nice to have a lot of comps as confirmation.

Denver Foothills 12 Month Market newsIn conclusion the Denver Foothills Real Estate Market is still lacking in inventory and still is in desperate need of more active listings. If to only give my poor buyers more choices. It is hard enough to find the perfect home in a market with high inventory. I still think all the Realtors in the Denver Foothills area think the same thing, now is a fantastic time to list!

 


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