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AuthorTopic: Denver Foothills Real Estate Market Report May 2017


Dan
Administrator
Posts: 26
Denver Foothills Real Estate Market Report May 2017
on: May 16, 2017, 22:27

<h1>How is the Denver Foothills Market These Days?</h1>
It seems to be the same conversations over and over again. With other Realtors, clients, friends and just random people I talk with about real estate in Evergreen, Conifer, Morrison and Bailey. The first thing we discuss in inventory, next is the rise in property value. Please understand this is a sellers market. It is getting better, or at least staying the same. If you look at the chart below it shows the average days on market. If you click on the image to enlarge you will see it is over the last 5 years and 2017 is pretty flat or trending down. The trend is across <a href="/homes-for-sale-toppicks/Evergreen/474728">Evergreen</a>, <a href="/homes-for-sale-toppicks/Conifer-Homes-For-Sale/121931">Conifer</a> and <a href="/homes-for-sale-toppicks/Bailey-CO-Real-Estate/123261">Bailey</a>.
<h2 style="text-align: center;">Evergreen, Conifer and Bailey Day on the Market</h2>
[caption id="attachment_5458" align="aligncenter" width="1555"]<a href="http://foothillsrealproperty.com/wp-content/uploads/2017/05/averge-days-on-market.png"><img class="wp-image-5458 size-full" src="http://foothillsrealproperty.com/wp-content/uploads/2017/05/averge-days-on-market.png" alt="Average days on market" width="1555" height="405" /></a> CLICK TO ENLARGE[/caption]

This next chart is the same as the above but it is the trailing 12 months. You can see it is definitely trending to less days on the market. This is the one of the first indicators we are in a sellers market and have been for a few years.

[caption id="attachment_5462" align="aligncenter" width="1000"]<a href="http://foothillsrealproperty.com/wp-content/uploads/2017/05/days-on-market-1-year.png"><img class="size-large wp-image-5462" src="http://foothillsrealproperty.com/wp-content/uploads/2017/05/days-on-market-1-year-1024x266.png" alt="Denver Foothills 2016_2017" width="1000" height="260" /></a> CLICK TO ENLARGE[/caption]
<h2 style="text-align: center;">Evergreen, Conifer and Bailey, CO Active Listings</h2>
These next charts will tell the same story. The first one in past five years with the number of active listings. If you enlarge the image you will see a steep downtrend.

[caption id="attachment_5463" align="aligncenter" width="1000"]<a href="http://foothillsrealproperty.com/wp-content/uploads/2017/05/active-listings.png"><img class="size-large wp-image-5463" src="http://foothillsrealproperty.com/wp-content/uploads/2017/05/active-listings-1024x269.png" alt="Active Listings in the Denver Foothills" width="1000" height="263" /></a> CLICK TO ENLARGE[/caption]

We do see a pretty flat year. The number of active listings are definitely still down slightly but hoping this is the sign of a reversal trend.

[caption id="attachment_5464" align="aligncenter" width="1000"]<a href="http://foothillsrealproperty.com/wp-content/uploads/2017/05/active-listings-1-year.png"><img class="size-large wp-image-5464" src="http://foothillsrealproperty.com/wp-content/uploads/2017/05/active-listings-1-year-1024x267.png" alt="Denver Foothills Active Listings" width="1000" height="261" /></a> CLICK TO ENLARGE[/caption]
<h2 style="text-align: center;">Close Price to Listing Price %</h2>
The next charts will show you what percent of list price homes are closing. Meaning what kind of offer should we make? Can we low ball them? We you certainly can make any offer you want but if you expect the seller to take it you might want to think about the graphs below.

[caption id="attachment_5465" align="aligncenter" width="1000"]<a href="http://foothillsrealproperty.com/wp-content/uploads/2017/05/percent-of-close-to-list.png"><img class="size-large wp-image-5465" src="http://foothillsrealproperty.com/wp-content/uploads/2017/05/percent-of-close-to-list-1024x270.png" alt="" width="1000" height="264" /></a> CLICK TO ENLARGE[/caption]

Basically if you look at Evergreen, the blue line, the sellers are getting about 99.25% of list price. So that means on a $500,000 home the sellers (on average) are only taking off their asking price by $3,750. That is not a lot at all!

[caption id="attachment_5466" align="aligncenter" width="1000"]<a href="http://foothillsrealproperty.com/wp-content/uploads/2017/05/PErcent-of-close-price-1-year.png"><img class="size-large wp-image-5466" src="http://foothillsrealproperty.com/wp-content/uploads/2017/05/PErcent-of-close-price-1-year-1024x268.png" alt="" width="1000" height="262" /></a> CLICK TO ENLARGE[/caption]

I am not trying to discourage buyers at all. I just want all my clients, buyers and sellers, what kind of market they a participating in. It is going to be one crazy summer here. We will be getting more inventory but at the same time buyers are going to flock here. Just remember you can contact me if you want to talk real estate with an Evergreen, CO Realtor.

Keller Williams Foothills
32214 Ellingwood Trail
Evergreen, CO 80439
Dan Skelly
303-503-8793

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