Anthony Rael serves as Chairman of the Denver Metro Area Market Trends Committee on behalf of the Denver Metro Association of Realtors (DMAR)
denver real estate market stats, mls housing stats, sold listings, new listings, single family homes, condos, townhomes, short sales, median sales price, days on market, bank-owned, reo, pending sales, affordability index, market trends, months supply, market overview, REMAX Alliance Arvada

November 2014 Denver Real Estate MLS Statistics & Trends Report
for October 2014 MLS Statistics

"Much like the KC Royals World Series run came to end last week, so too did the frenzied summer 'sellers’ market'. Just a few short months ago, we witnessed multiple offer situations and 'Days on Market' seemed like hours on the market and sales prices were driven upwards. The mid-year buying frenzy appears to be over as 'Days on Market' (DOM) increasing while the four other indicators: 'Closed Price' to 'List Price' ratio, 'New Listings', 'Median Sales Price' and 'Closed Sales Volume' all decreased in October.

The low inventory of homes available for sale continues todecline with seasonality impacting overall transactions. The month-end inventory of 6,748 homes is getting closer to the record low of 6,341 homes in March 2014. In the $100k - $199k the 'Market Trends Committee' found very low inventory with only 260 units. Of that, only 75% are individually owned. Of that 75% only 48% are located within the C-470 beltway. Compared to the $200k - $299k price range, 83% are individually owned and 61% are within the C-470 beltway. In a nutshell: there are fewer quality listings in the lower price range and there are less of them closer to the city center.

Overall, the news is not all bad as we point out strengths in our market with a 'Year-to-Date' (YTD) 'Average Sold Price' of $324,362 and a 'Closed Dollar Volume' of $14.8 Billion. Seasonality will likely impact transactions as we enter the holidays, but demand remains strong for Millennials looking to use the off-season to trade their high rent prices to purchase in the Denver area as well as buyers who will continue to look for the home of their dreams."

- Anthony Rael, Chairman - Denver Metro Association of REALTORS Market Trends Committee



Glossary of Terms for Real Estate Stats
What is Median Sale Price?
What are Active Listings?
What are New Listings?
What are Sold Listings?
What is Pending/Under Contract?
What are Days on Market?

What is the Affordable Housing Index?
What are Months Supply of Listings?

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Anthony "Mike" Rael  |  REMAX Alliance - Arvada  |  5440 Ward Rd., #110  |  Arvada, Colorado 80002  |  303.520.3179
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