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December 2015 Denver Real
Estate Market Statistics & Trends Report
Download the
December 2015 Denver Real Estate Market Statistics & Trends Report -
"November welcomed
in a season to be grateful for: family, friends, good health and many
REALTORS® are reporting a season of giving. We are seeing price
reductions, and seller concessions as they start to realize that the
cooler temperatures are not the only thing decreasing this season.
As you review the latest Market Trends Report, don't be alarmed by the
substantial decreases in market metrics including Active Listings, New
Listings, Sold and overall Sales Volume. I'd like to remind my fellow
REALTORS® to study both month-over-month and year-over-year stats. While
it's good to be aware of how the market is shifting from month-to-month,
it's equally useful to pay attention to the 12-month trends.
Year-over-year stats paint a picture of how the market fared during the
same time last year, which allows you to compare and contrast the seasonal
changes and keep things in perspective.
Digging into the November MLS housing stats: 3,374 New Listings came on
the market while 3,987 homes were placed under contract and 3,373 homes
Sold and Closed. We closed out the month with 5,683 Active Listings –
representing a 20.58 percent decrease in inventory over the previous
month, but 4.85 percent more properties than what we had available in
November 2014. As we look at the month-over-month Detached Single Family
Home market, we saw a sharp drop of 38.93 percent in New Listings, which
is still 8.36 percent more than in November 2014. Average and Median Sold
Prices remained relatively unchanged from the previous month, down a
slight 0.41 percent to $401,241 and down 0.25 percent to $344,900
respectively. The Condo market, or Attached Single Family market, showed
the supply of New Listings dropped 34.26 percent over the previous month,
while the Average Sold Prices increased just 6.83 percent to $281,107 and
the Median Price increased 4.90 percent to $225,000. For the entire
Residential (RES) market, which includes Attached and Detached properties,
Under Contracts decreased by 16.80 percent; Sold Listings decreased 29.36
percent and total Sales Volume dropped 28.69 percent to $1.23 billion from
the previous month. A quick summary of the Year-to-Date (YTD) Residential
market stats shows new listings at 63,596 (6.02 percent more than 2014);
days on market at 30 (18.92 percent less than 2014); Average Price at
$362,255 (11.63 percent more than 2014) and a record-smashing $18.5
billion in total Sales Volume (13.98 percent more than 2014).
I also wanted to share some interesting insights from DMAR’s recent
Economic Summit, featuring keynote Dr. Paul Bishop, VP of Research for the
National Association of REALTORS® (NAR). According to Dr. Bishop the total
U.S. payroll employment has recovered. A whopping eight million jobs were
lost from 2000-2008, but 12 million jobs have been gained since. Denver's
job market recovered quickly. In the Denver-area, 76,000 jobs were lost
between 2000 and 2008, but we’ve gained 201,000 jobs since. Another
interesting finding out of NAR is from a recent survey. According to the
survey, 83 percent of renters said they wanted to own a home, 42 percent
believe they can’t afford a home and 59 percent think it's too difficult
to qualify for a mortgage.
Also something to keep on your horizon is that the Federal Reserve will be
meeting in the next two weeks and all indications point to a possible
short-term interest rate increase – which have been near zero since
December 2008. What impact will this have on mortgage rates? Weigh-in on
social media using #dmarstats."
- Anthony Rael, Chairman -
Denver Metro
Association of REALTORS Market Trends Committee
Download the
December 2015 Denver Real Estate Market Statistics & Trends Report -
Archived Denver Real Estate Market Trends Monthly
Reports
November 2015 - Denver Real Estate Market Statistics & Trends Report
October 2015 - Denver Real Estate Market Statistics & Trends Report
&
Oct 2015 Press Release
September 2015 - Denver Real Estate Market Statistics & Trends Report
&
Sept 2015 Press Release
August 2015 - Denver Real Estate
Market Statistics & Trends Report &
August 2015 Press Release
July 2015 - Denver Real Estate
Market Statistics & Trends Report &
July 2015 Press Release
June 2015 - Denver Real Estate
Market Statistics & Trends Report &
June 2015 Press Release
May 2015 - Denver Real Estate
Market Statistics & Trends Report
April 2015 - Denver Real Estate
Market Statistics & Trends Report
March 2015 - Denver Real Estate
Market Statistics & Trends Report
February
2015 - Denver Real Estate Market Trends Report
January 2015 - Denver Real Estate
Market Trends Report
December
2014 - Denver Real Estate Market Trends Report
November 2014
- Denver Real Estate Market Trends Report
October 2014 -
Denver Real Estate Market Trends Report
September 2014 -
Denver Real Estate Market Trends Report
August 2014 -
Denver Real Estate Market Trends Report
July 2014 - 11-Denver
Real Estate Market Trends Report
June 2014 -
Denver Real Estate Market Trends Report
May 2014 -
Denver Real Estate Market Trends Report
Denver Real Estate Market
Stats & Trends Report - HOME
NOTES:
Interview requests from the media should be directed to DMAR's
Marketing Communications at (303) 300-8490
MLS stats are tracked in arears, so the published report
is for the previous month-end activity
The DMAR 'Premier Market' is
defined as $500,000 to $749,999
The DMAR 'Signature Market' is
defined as $750,000 to $999,999
The DMAR 'Luxury Market' is
defined as $1,000,000 and over
11-Counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver,
Douglas, Elbert, Gilpin, Jefferson & Park
Research: Denver Metro Association of REALTORS® Market Trends
Committee
Source of MLS Data: REColorado.com
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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