Denver Realtor ponders “what is this spreadsheet telling me?”

I stare and stare and wonder what it is that is supposed to be plain and obvious in front of my face. Ever been there? Well, once a month I subject myself to that to make sure I am staying current with the Denver Real Estate market.

At the very beginning of this year the local MLS provider published some figures for last year. Admittedly, their data must be flawed because they always post early in the cycle. But they are consistently bad, so I guess that is good. An example: MLS data indicated on 1/3/2012 that 1857 single family homes sold in December and on 1/24/2012 that number was 2184 (my personal search criteria on 2 different dates).

Anyway, what I was going googly eyed over was this real estate listing and sale data in Denver. 2 things I saw after a while…1: when the average number of active listings went down below 10,000, the average price started to climb and 2: The actual number of closed sales also tends to increase? Fewer listings but more sales? Only in Denver!

Some folks have focused on the average asking to the average sale price thinking there is a correlation… and I am here to say there are more folks dreaming big and testing the water when the market proves to be upwardly mobile.

Year # Active Average Asking Price # YTD SOLD Average SOLD Price
1984 18142 98678
1985 19430 98071
1986 20002 100612
1987 19777 105771
1988 18240 101577
1989 11846 121696 19272 103868
1990 9869 140245 20476 102766
1991 8563 151705 21547 109071
1992 7922 157538 27215 115154
1993 6282 196067 30763 126168
1994 7028 230011 29710 138301
1995 7984 238346 27810 150736
1996 8708 237997 29522 159328
1997 8866 249318 30981 169587
1998 8063 276971 35139 185785
1999 6571 306958 35500 208296
2000 6898 353590 37012 239779
2001 9247 360826 35888 257394
2002 15190 357050 36272 268926
2003 15498 355900 36677 277856
2004 14332 370038 41682 289971
2005 16428 381777 41365 307529
2006 18109 331231 39208 317112
2007 18709 424390 38845 310418
2008 14995 511601 37988 270261
2009 12263 496675 33114 264803
2010 13941 409416 30777 282080
2011 8854 470408 31437 279858

Let me know your thoughts…Is it time to buy? Time to sell? How could I help you?

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About Pete Doty

As a Realtor® Pete has been working in the Denver residential market since he first started in 1985, and focusing primarily in the south end of town. He finds the client the home they want, and then help them sell it when they want to move. Marketing is really where his heart is, and making sure his clients’ interests are watched over in Littleton, Highlands Ranch, Parker, Castle Rock, Centennial, Englewood, Morrison or Denver. His web site www.DenverRelocation.com ranks high in search rankings and generates numerous relocating buyers each year. Talk to Pete for a unique perspective on today's real estate market in Denver.
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