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.

Month DOM, Average Active Listings, Number of
Jan 2012 140 974
Feb 2012 135 933
Mar 2012 154 933
Apr 2012 151 990
May 2012 114 1,091
Jun 2012 110 1,125
Jul 2012 87 1,134
Aug 2012 99 1,096
Sep 2012 110 1,044
Oct 2012 83 959
Nov 2012 81 866
Dec 2012 154 789
Jan 2013 127 692
Feb 2013 103 694
Mar 2013 130 674
Apr 2013 104 738
May 2013 70 854
Jun 2013 58 928
Jul 2013 82 923
Aug 2013 56 884
Sep 2013 67 771
Oct 2013 63 638
Nov 2013 83 495
Dec 2013 127 409
Jan 2014 97 364
Feb 2014 86 361
Mar 2014 74 406
Apr 2014 78 441
May 2014 74 508
Jun 2014 51 547
Jul 2014 37 555
Aug 2014 44 539
Sep 2014 52 481
Oct 2014 66 438
Nov 2014 64 351
Dec 2014 76 305
Jan 2015 72 258
Feb 2015 79 256
Mar 2015 73 262
Apr 2015 51 304
May 2015 37 355
Jun 2015 30 411
Jul 2015 30 478
Aug 2015 33 453
Sep 2015 36 418
Oct 2015 53 361
Nov 2015 43 298
Dec 2015 61 235
Jan 2016 46 208
Feb 2016 58 207
Mar 2016 49 253
Apr 2016 52 301
May 2016 33 322
Jun 2016 23 389
Jul 2016 28 413
Aug 2016 26 423
Sep 2016 33 389
Oct 2016 41 334
Nov 2016 40 268
Dec 2016 56 234
Jan 2017 62 190
Feb 2017 51 192
Mar 2017 50 227
Apr 2017 29 218

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!

 

It's Nice to Share!