Real Estate Market Conditions

April 2012 Lone Tree Real Estate Market Conditions

May 14, 2012

Lone Tree Real Estate Market Update 4/2012

Active Homes For Sale: 67

Under Contract/Pending: 38

Number of homes sold in 2012: 49

Average Days on Market: 133

Average Dollar Per Square Foot: $197

Median Home Price: $621,495

Active Condos For Sale: 20

Under Contract/Pending: 10

Number of homes sold in 2012: 21

Average Days on Market: 149

Average Dollar Per Square Foot: $164

Median Home Price: $224,398

Monthly Market Recap:

Single Family:
Active Inventory is 8,353 units at month end

Sold units is 3,133

Average Days on Market is 90

Median Sold Price is $249,900

Average Sold Price is $298,712

Condos:

Active Inventory is 1,901 units at month end

Sold units is 758

Average Days on Market is 91

Median Sold Price is $142,000

Average Sold Price is $178,231

April Year-to-Date Market Recap (2012 versus 2011):

Single Family:

Active Inventory 8,353 versus 13,874 (↓40%)

Sold Units 9,879 versus 8,756 (↑13%)

Median Price $233,000 vs $221,000 (↑5%)

Average Price $283,682 vs $272,339 (↑4%)

Sales Volume $2.8B versus $2.4B (↑18%)

Days on Market 100 versus 116 (↓14%)

Condos:

Active Inventory 1,901 versus 3,973 (↓52%)

Sold Units 2,452 versus 2,267 (↑8%)

Median Price $128,000 vs $120,000 (↑7%)

Average Price $163,787 vs $156,709 (↑5%)

Sales Volume $402M versus $355M (↑13%)

Days on Market 98 versus 125 (↓22%)

APRIL, 2012 YTD HOME TRENDS:

The top three price ranges for sold Single Family homes are:

(1) $100,000 to $199,999

(2) $200,000 to $299,999

(3) $300,000 to $399,999

The top three price ranges for sold Condo homes are:

(1) $100,000 to $199,999

(2) $0 to $99,999

(3) $200,000 to $299,999

March 2012 Lone Tree Real Estate Market Conditions

April 13, 2012

Lone Tree Real Estate Market Update 4/2012

Active Homes For Sale: 66

Under Contract/Pending: 27

Number of homes sold in 2012: 37

Average Days on Market: 147

Average Dollar Per Square Foot: $194

Median Home Price: $592,717

Active Condos For Sale: 17

Under Contract/Pending: 13

Number of homes sold in 2012: 6

Average Days on Market: 134

Average Dollar Per Square Foot: $168

Median Home Price: $253,302

Market Metrics:

March was an “UP” month in the Denver home market. While the inventory of homes for sale remained for the most part stable, everything else was going up and the strength of the Denver home market continues to show its recovery. All indications are that this will be a strong year for the Denver home market. We are only weeks away from the start of the prime home selling/buying season.

Monthly Market Recap:

Single Family:
Active Inventory is 8,303 units at month end

Sold units is 2,775

Average Days on Market is 105

Median Sold Price is $232,500

Average Sold Price is $284,035

Condos:

Active Inventory is 2,022 units at month end

Sold units is 700

Average Days on Market is 97

Median Sold Price is $125,500

Average Sold Price is $161,848

March Year-to-Date Market Recap (2012 versus 2011):

Single Family:

Active Inventory 8,303 versus 13,712 (↓39%)

Sold Units 6,746 versus 6,021 (↑12%)

Median Price $225,000 vs $220,000 (↑2%)

Average Price $276,702 vs $272,507 (↑2%)

Sales Volume $1.9B versus $1.6B (↑14%)

Days on Market 105 versus 120 (↓13%)

Condos:

Active Inventory 2,022 versus 3,995 (↓49%)

Sold Units 1,694 versus 1,573 (↑8%)

Median Price $120,000 vs $121,905 (↓2%)

Average Price $157,324 vs $155,946 (↑1%)

Sales Volume $267M versus $245M (↑8%)

Days on Market 101 versus 129 (↓22%)

MARCH, 2012 YTD HOME TRENDS:

The top four price ranges for sold Single Family homes are:

(1) $200,000 to $299,999

(2) $300,000 to $499,999

(3) $150,000 to $199,999

(4) $110,000 to $149,999.

The top three methods of financing a home purchase are:

(1) Conventional financing

(2) FHA financing

(3) Cash

Advice to Sellers:

It is time to take advantage of the prime home selling season and sell your home!

Establish expectations as to what your home pricing should be, deferred maintenance needs, and the average amount of time required before your home can be sold. More prospective buyers rate lifestyle as a top priority. With that being said, prospective buyers are looking for a home that has everything they want and are usually not interested in doing renovation/home improvement after the purchase.

Sellers can improve their chances of seller their house by sprucing up the inside and out, this will create a lasting first impression.

Advice to Buyers:

One may ask “Does buying a home really make better sense than renting?” While the answer is personal, one should consider the four non-financial reasons people buy a home: buyers want a place to raise and educate their children, a place where their family will feel safe, plenty of living space, and have control over the space. Home affordability has never been better.

In the market to purchase a home? There's a list of things to consider when preparing for homeownership: decide what you can afford, develop your home wish list, select where you want to live, start saving, make sure your credit is in order, determine your mortgage qualifications, get pre-approved, weigh the sources of your down payment, and calculate all the costs of homeownership.

January 2012 Lone Tree Real Estate Market Conditions

January 19, 2012

Lone Tree Real Estate Market Update 1/19/2012

Active Homes For Sale: 48

Under Contract/Pending: 13

Number of homes sold in 2012: 5

Average Days on Market: 240

Average Dollar Per Square Foot: $231

Median Home Price: $803,345

Active Condos For Sale: 18

Under Contract/Pending: 1

Number of homes sold in 2011: 2

Average Days on Market: 144

Average Dollar Per Square Foot: $210

Median Home Price: $317,450

GREATER METROPOLITAN DENVER MARKET UPDATE

JANUARY, 2012

Market Metrics:

Active Listings inventory continues to decline, 13% month over month and 40% year over year. Under Contract activity and Closed transactions activity remained seasonal with a continual decline month over month. The New Year starts with renewed hope that 2012 will be better than 2011. Wishing you and yours a Happy and Prosperous New Year.

Single Family:
Active Inventory is only 8,854 units at month end

Sold units is 2,531

Average Days on Market is 107

Median Sold Price is $230,000

Average Sold Price is $275,610

Condos:

Active Inventory is only 2,139 units at month end

Sold units is 625

Average Days on Market is 106

Median Sold Price is $120,700

Average Sold Price is $166,420

December Year-to-Date Market Recap (2011 versus 2010):

Single Family:

Active Inventory 8,854 versus 13,941 (↓36%)

Sold Units 31,437 versus 30,777 (↑2%)

Median Price $230,000 vs $235,000 (↓2%)

Average Price $279,858 vs $282,080 (↓1%)

Sales Volume $8.8B versus $8.7B (↑1%)

Days on Market 105 versus 90 (↑17%)

Condos:

Active Inventory 2,139 versus 4,316 (↓50%)

Sold Units 7,950 versus 8,041 (↓1%)

Median Price $124,900 vs $136,000 (↓8%)
Average Price $159,141 vs $161,005 (↓1%)

Sales Volume $1.2B versus $1.3B (↓2%)

Days on Market 116 versus 98 (↑18%)

Days on Market:

By definition, Days on Market is calculated as the number of elapsed days from the original listing date to the status change date. Therefore if a home is listed for sale on January 2^nd and the seller(s) accept an offer on January 22^nd, the Days on Market for this property is 21 days at this point in time.

Days on Market is one of several metrics that are used to follow the market trends.

Advice to Sellers:

Welcome to 2012. What changes can one expect in 2012?

The year will start with the lowest inventory of unsold homes in a decade plus.

New home builders will have new models emphasizing efficiency, lifestyle, and a smaller footprint. For some sellers, this will be competition that has not been seen for several years.

External influences will continue to impact the market; such as, employment, economy, and consumer confidence.

As a home seller, one must keep in mind that with the beginning of 2012:

- Housing will be on the minds of many, because lots of people will be seeking housing.

- Rising rental rates will cause more to look at home ownership.

- Low rental vacancy rates will cause more to look at home ownership.

- Historically low mortgage rates will cause more to look at home ownership.

- Overall, affordable housing prices will cause more to look at home ownership.

It is a great time for your home to be on the market with inventory levels at 10 year lows!

Advice to Buyers:

The number of active listings, those homes available for sale, continues to be the lowest it has been in years. Prioritize your needs and wants and look at what is available in the market.

Rents continue to rise in the Denver market and home prices continue to stabilize.

Talk to your RE/MAX Professional today about your Lifestyle preferences, the benefits of home ownership, and home affordability.

December 2011 Lone Tree Real Estate Market Conditions

December 24, 2011

Lone Tree Real Estate Market Update 12/24/2011

Active Homes For Sale: 51

Under Contract/Pending: 20

Number of homes sold in 2011: 142

Average Days on Market: 131

Average Dollar Per Square Foot: $196

Median Home Price: $586,737

Active Condos For Sale: 22

Under Contract/Pending: 5

Number of homes sold in 2011: 46

Average Days on Market: 129

Average Dollar Per Square Foot: $169

Median Home Price: $276,619

GREATER METROPOLITAN DENVER MARKET UPDATE

December, 2011

Market Metrics:

The inventory of active listings at November month end hit another new low at

12,634 units, a decline of 11% month over month and 37% year over year.

Buyer demand continues at a seasonally adjusted rate for the holiday season. Declining inventory could become a good news situation.

Monthly Market Recap:

Single Family:
Active Inventory is 10,213 units at month end

Sold units is 2,468

Average Days on Market is 99

Median Sold Price is $230,300

Average Sold Price is $275,951

Condos:

Active Inventory is 2,421 units at month end

Sold units is 600

Average Days on Market is 105

Median Sold Price is $125,000

Average Sold Price is $153,526

November Year-to-Date Market Recap (2011 versus 2010):

Single Family:

Active Inventory 10,213 versus 15,232 (↓33%)

Sold Units 28,906 versus 28,355 (↑2%)

Median Price $229,900 vs $230,250 (↔)

Average Price $280,230 vs $282,717 (↓1%)

Sales Volume $8.1B versus $8.0B (↑1%)

Days on Market 105 versus 89 (↑18%)

Condos:

Active Inventory 2,421 versus 4,649 (↓48%)

Sold Units 7,325 versus 7,439 (↓2%)

Median Price $125,000 vs $133,000 (↓6%)

Average Price $158,520 vs $160,533 (↓1%)

Sales Volume $1.1B versus $1.1B (↔)

Days on Market 117 versus 95 (↑23%)

Average Price versus Median Price:

By definition, Average price is derived by adding all of the individual home sales prices to get a total sales volume ($) for the period. The total sales volume ($) is then divided by the number of sales transactions which results in the Average Price.

By definition, Median Price is derived by ranking the highest individual home sales price to the lowest individual home sales price. The point where one half of the transactions are either above or below this price is known as the Median Price.

Advice to Sellers:

The holiday season is upon us and traditionally the home owner takes his or her home off the market due to the holiday season, busy schedules, and personal or family time. One must ask if the holiday season is a good time to sell.

In a recent survey conducted by the National Association of Realtors®, 60% of Real Estate Professionals advise sellers to list a home during the holidays unless they have a preferred strategy going into the new year. The holiday season brings out more serious buyers, the inventory of active listings is low and thus the competition from other properties is less, and cold weather is a benefit in making the home feel cozy.

If you do have your home on the market for the holiday season, you need to keep two items in mind. One point is that the home must be kept in “ready to show” condition and the second point is that more interior photos are needed for marketing to prospective Buyers.

Advice to Buyers:

The number of active listings, those homes available for sale, is the lowest it has been in years and here we are at the holiday season. Therefore the Buyers will have fewer homes to choose from. Traditionally Sellers take homes off the market for the holidays. If a home remains on the market over the holidays, you may have a motivated Seller. What does this mean to you? Talk to a RE/MAX Professional to obtain an understanding of the home market at the holiday season.

Rents continue to rise in the Denver market and home prices continue to stabilize.

Talk to your RE/MAX Professional today about your Lifestyle preferences, the benefits of home ownership, and home affordability.

November 2011 Lone Tree Real Estate Market Conditions

November 4, 2011

Lone Tree Real Estate Market Update 11/4/2011

Active Homes For Sale: 70

Under Contract/Pending: 21

Number of homes sold in 2011: 131

Average Days on Market: 133

Average Dollar Per Square Foot: $197

Median Home Price: $585,594

Active Condos For Sale: 23

Under Contract/Pending: 6

Number of homes sold in 2011: 42

Average Days on Market: 126

Average Dollar Per Square Foot: $170

Median Home Price: $283,027

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GREATER METROPOLITAN DENVER MARKET UPDATE

OCTOBER, 2011

Market Metrics:

September historically marks the end of Denver’s prime home selling/buying market with seasonally adjusted transactions when comparing month over month. Of note is the fact that the month end inventory of active listings in total is 15,533 homes at month end.

This is a new low for the last thirteen months and numbers that we have not seen since 2003. Denver’s prime home selling/buying market with

Monthly Market Recap:

Single Family:
Active Inventory is 12,613 units at month end

Sold units is 2,610

Average Days on Market is 99

Median Sold Price is $229,804

Average Sold Price is $280,289

Condos:

Active Inventory is 2,920 units at month end

Sold units is 727

Average Days on Market is 127

Median Sold Price is $128,950

Average Sold Price is $159,980

September Year-to-Date Market Recap (2011 versus 2010):

Single Family:

Active Inventory 12,613 versus 17,625 (↓28%)

Sold Units 23,956 versus 23,933 (↔)

Median Price $229,970 vs $230,000 (↔)

Average Price $281,782 vs $282,416 (↔)

Sales Volume $6.8B versus $6.8B (↓1%)

Days on Market 106 versus 86 (↑23%)

Condos:

Active Inventory 2,920 versus 5,255 (↓44%)

Sold Units 6,024 versus 6,353 (↓5%)

Median Price $124,900 vs $134,000 (↓7%)

Average Price $158,761 vs $160,280 (↓1%)

Sales Volume $1.0B versus $0.9B (↓6%)

Days on Market 120 versus 91 (↑32%)

With the end of the prime home selling and home buying market for the Greater Metropolitan Denver area, what can one expect for the remaining months of 2011?

The Active Inventory count in units will continue to decrease as well as the monthly number of both under contract and closed transactions. This does not mean that the market has gone away or will go away; but, rather that the market continues in a seasonally adjusted basis.

With the extremely low inventory that we have not seen in years, homes that are on the market through Fall and Winter will have a greatly increased chance to sell!