The Glass is Really Half Full – Denver Ranks #3
January 28, 2010 by Bob Schenkenberger · Leave a Comment
The Denver area real estate market ranked number 3 in the latest (November 2009) S&P/Case-Shiller Home Price report. The report tracks 20 metropolitan areas and ranks them based on real estate price performance.
The Denver area showed a 0.5% increase, and ranked 3rd, trailing only Dallas (+1.4%) and San Francisco (+1.0%.) The only other [...]
Denver Market Update October 2009
November 12, 2009 by Bob Schenkenberger · Leave a Comment
Good news, bad news? Well let’s put it this way. Denver home sales dropped a whopping $1 Billion for the year compared with the first 10 months of 2008. As a matter of fact, the $8.58 billion in closed sales, year to date, is the lowest since 1999. And you need to go back to 1997 to find fewer closing than we’ve had this year.
On the flip side, inventory continues to dwindle, average prices are moving up, and the absorption rate is moving into seller market territory.
The true answer to this market lies in the price point you are interested in. Sub $250k properties are not only moving, but are moving quickly with a lot of competition. $250k-$500k are doing alright, but more time is needed for improvement. Hopefully, the expansion of the home buyer credit will help stimulate this segment. Above $500k you are going to get a deal! There is a lot of inventory, and some great values out there.
If you have any questions or would like further intel, please leave a comment below, or feel free to send us a message!
Denver Metro Market Update July 2009
August 13, 2009 by Bob Schenkenberger · Leave a Comment
Numbers continue to move in as expected. Down volume-wise from last year. But less listings hitting the market. The numbers of sales per listing are up, and that is a very positive sign.
The lower inventory, has absolutely helped the areas absorbtion rate.
Home Builders Feeling Good
July 19, 2009 by Bob Schenkenberger · 3 Comments
News this week that construction starts of single family homes spiked in June. The 3.6% increase brought starts to an annual rate of 582,000 units, the highest level since November, and followed a 562,000 pace in May. Even more encouraging, building permits, a sign of future construction, rose the most in the past [...]
Denver Metro Market Update June 2009
July 13, 2009 by Bob Schenkenberger · Leave a Comment
Here is the June data for the entire Denver Metro area.
The key factors:
Inventory is much lower (-21.5%.) This is a huge positive as large inventory has been the biggest problem for our market over the past 24 months., and absorbtion rates are continuing to improve.
Absorbtion Rate is continuing to improve. This number is the time [...]
Top 5 Markets Poised for a Rebound
May 19, 2009 by Bob Schenkenberger · 1 Comment
The national press is now getting involved. This video clip is from the Today Show on NBC, where Real Estate expert Barbara Corcoran picked Denver as the NUMBER 1 market in the country for a real estate rebound! It is nice to see others validating what we’ve been saying for months!
Some of the [...]
Denver Housing Market Stats – February
March 11, 2009 by Bob Schenkenberger · Leave a Comment
Here are some quick market stats from February. When I have more time I will delve into what they may foreshadow, however, suffice it to say, it’s good news!
Home sales in February totalled 4,183. Up 9.2% over January
Median home price was $192,000. Up 5.8%
Median price for Condos was $117,725. Up 4%
53% of all homes sold [...]
Denver Housing Market Tops in Nation
February 24, 2009 by Bob Schenkenberger · Leave a Comment
Data just released from S&P/Case-Shiller Home Price Indices, shows the Denver Housing market as the best performing of the 20 largest markets in the country. While we still lost 4% (year over year) during the fourth quarter, the combined decline of these markets was 18.5 percent.
The nationwide property value decrease continues to set records for [...]
2009 Stimulus Plan – Not So Stimulating
February 13, 2009 by Bob Schenkenberger · 2 Comments
I’m not sure how handing the states billions of dollars for education and medicaid will help the economy, but the lawmakers must be smarter than me. I don’t know why it still shocks me when a bill with a specific purpose becomes so multi-faceted that no one really knows all that’s in it.
A quick rant [...]
Simple Math of Real Estate Markets
February 11, 2009 by Bob Schenkenberger · Leave a Comment
A few days ago the Rocky Mountain News published an article headlined “Worst January Ever For Home Sales.” What criteria they used to determine it was the worst ever was not disclosed. The Rocky simply broad stroked the criteria as “by many measures.” I would like to know what measures make this the worst ever. [...]
