The Get Home Denver Team

It looks like you're new here. I appreciate you stopping by! Feel free to throw down some graffiti on my wall by adding a comment to this post! And, if you like what you see, please subscribe to the feed and I'll deliver all my new content, right to you! Thanks for visiting!

Here are some recently compiled market stats for March 2008. My market area is the South Metro Denver cities, including Denver, Centennial, Greenwood Village, Cherry Hills Village, Englewood, Littleton, and Highlands Ranch.

Big Picture (Covering the Entire Metro Denver Area) The figures are for single family residential properties only, and Do NOT include Condos, Land or Commercial data.

Total Closings for the Month: 2951, Down 11% from 2007, Up 21% from previous month.

Average Days on Market: 109, Down 6.8% from 2007, Down 2% from previous month.

Active Listings: 19,509, No Change from 2007, Up 2.3% from previous month.

Average Sold Price: $274,693, Down 9.1% from 2007, Down 1.5% from previous month.

Absorbtion Rate: 6.5 Months, Down 2% from previous month.

South Suburban Central & South Suburban East MLS Market Areas (This data includes condos, and covers the majority of Greenwood Village, Cherry Hills Village, Englewood, Littleton, Centennial, south Aurora, and un-incorporated Arapahoe County.)

Total Closings for the Month: 126, Down 14.3% from 2007, Down 24.5% from previous month.

Average Days on Market: 93, Down 31.1% from 2007, Down 14.7% from previous month.

Active Listings: 1008, Up 10.6% from 2007, Down 19.7% from previous month.

Average Sold Price: $414,188, Down 14.2% from 2007, Up 3.5% from previous month.

Absorbtion Rate: 7.6 months, Up 32.1% from 2007

The conclusion is, no conclusion! We are receiving mixed messages with this data. Prices are down year to year, but up from last month. Days on the market are down, but absorbtion rates are higher. Properties are still being sold, and in the South Metro Denver area, they are selling quicker, than last year!

My opinion is we won’t know much more about the market until we’ve hit our summer stride. At that point, the numbers should start giving us an indication on where we are headed!

Click Here to download the full report in .pdf format. March MLS Stats