Monthly Archives: May 2012

Denver’s Real Estate Market May 2012

NEIGHBORS BLOGS

Denver’s Real Estate Market May 2012

New ConstructionDenver’s market has been in the dumps for a few years, but not any more! Prices are rising, builders are building, and buyers are having to act quickly to be first in line. Quite a change.
For years it’s been a buyers’ market. Buyers could take their time, offer well below asking price and count on having many homes to choose from. Today it’s more like it was when I first started in real estate 15 years ago. Buyers wrote offers on the spot, usually because there were two or three couples looking at the same home at the same time. They often wrote offers above asking price. Are we at that point yet? Not quite, but all the signs are there for a return to a seller’s market.
As has always been true, good homes in good neighborhoods in good condition command higher prices. But today inventory is low, credit standards are tighter, and buyers have to be prepared when they start to look for their new home.
New construction, in the doldrums for several years, is active again. Prices are less negotiable, lot choice may be limited, upgrades are a bit more expensive. According to the current report from the National Association of Home Builders permits pulled for single family homes in the Denver Metro area in March of 2012 rose 52% over March of 2011, an astonishing rise in near-future building plans.
As for existing homes, the number of single family homes on the market in April was 40% fewer than in April of last year, meaning inventory is shrinking. Sales were up by 15% over last year this time. Put these two facts together and you have an increasingly tight market for buyers. The number of homes currently under contract is 20% higher than last year. Buyers have been waiting, and now that credit has loosened they’re ready to buy, snapping up homes quickly. Condos are in even shorter supply, 52% fewer than last April. Median price for condos sold in the last month is $142,000, up from $125,500 last month.  For single family homes the median sold price is $249,900, up from $232,500 last month.
If you’re in the market for a home in the Denver metro area, give Buyers Advantage a call at 303-587-3509 and ask for Judith. You can’t do better than have your own Exclusive Buyer’s Agent in your court to beat out the competition when you find the house you’re looking for.

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Related Posts:
  1. Is the Denver Real Estate Market Really in a Slump?
  2. I took the plunge this week and signed a contract on a house.  I’ve owned a house before, but not since I moved here two years ago. As I have told friends and co-workers about this, the response has consistently been, “Wow, that takes guts!” Why?  Is the Denver real estate market

  3. Investors Tout Denver Real Estate Market for 2012
  4. If you’re looking for a great place to buy or invest in real estate, head straight to Denver, Colorado says Greg Rand, CEO of OWNAMERICA. Appearing recently on the FOX Business Channel, Rand discussed all the things that make Denver the choice of both real estate owners and investors for

  5. DENVER REAL ESTATE MARKET UPDATE – JANUARY 2012
  6. Market Metrics: The name of the game as we enter 2012 is INVENTORY! Take a look at these numbers for 2011, and you will see many categories were very similar to 2010, but the inventory numbers are the first signs of the changing market! Active Listings inventory continues to decline 13% month

  7. METRO DENVER REAL ESTATE MARKET UPDATE – APRIL 2012
  8.   The Market is Shifting Buyers are coming out of the woodwork looking for homes, but not finding much to choose from, especially in the under $300,000 price range.  We are counseling buyers in this price range to be ready to jump quickly on any house that comes on the market that

  9. METRO DENVER REAL ESTATE MARKET UPDATE – MARCH 2012
  10. Well, the word on the street continues to be “Inventory, Inventory, Inventory!” Very few times in history have we seen our inventory drop to these kinds of levels without a major shift occurring in our marketplace!  The Pendulum is now starting to swing back in the favor of sellers

Denver-Aurora-Broomfield, CO Metropolitan Statistical Information

Denver-Aurora-Broomfield, CO Metropolitan Statistical Area

From Wikipedia, the free encyclopedia

Location of the Denver-Aurora-Broomfield, CO Metropolitan Statistical Area

Satellite image of the core of the Denver-Aurora-Broomfield, CO Metropolitan Statistical Area

The Denver-Aurora-Broomfield, CO Metropolitan Statistical Area is a United States Office of Management and Budgetdefined Metropolitan Statistical Area (MSA) in the State of Colorado that includes the City and County of Denver and ninesuburban counties. The Census Bureau estimates that the population was 2,357,404 on 2007-07-01, an +14.23% increase since United States Census 2000.[1] In 2007, 50.7% of Coloradans lived in the Denver-Aurora-Broomfield MSA.
The Denver-Aurora-Broomfield MSA, the Boulder MSA, and the Greeley MSA comprise the larger Denver-Aurora-Boulder Combined Statistical Area. Local residents generally use the term Denver area or Denver metro area which may informally mean anything from the continuously urbanized area within the six central counties of the MSA to the Front Range Urban Corridor north of Colorado Springs and south of Fort Collins.
The central part of the MSA includes the City and County of Denver and its three immediately adjoining counties: Jefferson County to the west, Adams County to the north and east, and Arapahoe County to the south and east. The continuously urbanized area extends northwest into the City and County of Broomfield, bordering Jefferson and Adams counties, and south into Douglas County, adjoining Arapahoe County. The most prosperous parts of the area are in the south, while the most industrialized areas are in the northeast, specifically in the northern part of Denver proper and extending to areas such asCommerce City in Adams County.
Also included in the MSA defined by the United States Census Bureau are four rural counties that are not popularly considered part of the Denver metro areaElbert County is on the southeastern prairie; Clear CreekGilpin, and Park counties are in theRocky Mountains.
Although the counties, cities, and towns are self-governing, there is some cooperation in the metropolitan area. The Denver Regional Council of Governments (DRCOG, pronounced Doctor Cog) is a regional planning and inter-governmental coordination organization in a nine-county region. The Scientific and Cultural Facilities District (SCFD) provides funding for scientific and cultural facilities in a seven-county region including:
In addition, the Regional Transportation District (RTD) provides mass transit, including a light rail system. In 2005 the RTD developed a twelve-year comprehensive plan, called“FasTracks”, to build and operate rail transit lines and expand and improve bus service throughout the region.
The center of the metropolitan area sits in a valley, the Denver Basin, and suffers from air pollution known colloquially as the brown cloud, building up if the air is stagnant as it often is in the winter. Severity of pollution in this area has varied enormously over the years. In the late 1980s the area was frequently in violation of multiple National Ambient Air Quality Standards established by the United States Environmental Protection Agency (EPA). The Regional Air Quality Council (RAQC) was formed in 1989 to create plans to address the problem. Through a variety of measures the area’s air quality was improved and in 2002 the EPA designated the area in compliance with all federal health-based air quality standards. Denver was the first major city in the United States to reach compliance with all six of these standards after previously violating five of them[2] Since then the EPA introduced a new standard for small particulates and made the existing ozone standard stricter. In 2003 the new ozone standard was frequently exceeded in the area and was occasionally exceeded as far away as Rocky Mountain National Park. The RAQC hopes to implement plans enabling the area to comply with the new standards by 2007.

Contents

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[edit]Counties

The Denver-Aurora-Broomfield Metropolitan Statistical Area comprises ten counties.[3] The sortable table below includes the following information:
  1. The official name of the county,[4]
  2. The county population as of July 1, 2011, as estimated by the United States Census Bureau,[5]
  3. The county population as of April 1, 2010, as enumerated by the 2010 United States Census,[5]
  4. The percent population change from April 1, 2010, to July 1, 2011.[5]
The Denver-Aurora-Broomfield Metropolitan Statistical Area
County 2011 Estimate 2010 Census Change
City and County of Denver 619,968 600,158 +3.30%
Arapahoe County 584,948 572,003 +2.26%
Jefferson County 539,884 534,543 +1.00%
Adams County 451,443 441,603 +2.23%
Douglas County 292,167 285,465 +2.35%
City and County of Broomfield 57,352 55,889 +2.62%
Elbert County 23,174 23,086 +0.38%
Park County 16,089 16,206 −0.72%
Clear Creek County 9,012 9,088 −0.84%
Gilpin County 5,467 5,441 +0.48%
Total 2,599,504 2,543,482 +2.20%

[edit]Metropolitan area cities and towns

[edit]Places with over 100,000 inhabitants

[edit]Places with 10,000 to 100,000 inhabitants

[edit]Places with fewer than 10,000 inhabitants

[edit]Communities previously part of the Denver metro area

[edit]Former Denver metro communities now part of the separate boulder metropolitan area due to being located in boulder county

[edit]Former Denver metro communities now part of the separate greeley metropolitan area due to being located in southwestern weld county

[edit]Residential real estate

Changes in house prices for the area are publicly tracked on a regular basis using the Case–Shiller index; the statistic is published by Standard & Poor’s and is also a component of S&P’s 10-city composite index of the value of the residential real estate market.

[edit]Sister cities

Though Arvada, Aurora, Boulder, Brighton, Broomfield, Denver, Lakewood and Longmont have their own individual sister city relationships, the Denver Regional Council of Governments (DRCOG) as a whole has a sister city relationship with the Iraq Baghdad Governorate of Iraq.[6]

[edit]See also

United States census statistical areas by state, district, or territory
AS
MP
GU
VI

[edit]References

  1. ^ “Annual County Population Estimates and Estimated Components of Change: April 1, 2000 to July 1, 2007 (CO-EST2007-alldata)” (CSV). 2007 Population Estimates.United States Census Bureau, Population Division. 2008-03-20. Retrieved 2008-03-25.
  2. ^ .“?”.[dead link]
  3. ^ “Annual Estimates of the Population of Metropolitan and Micropolitan Statistical Areas: April 1, 2000 to July 1, 2007” (CSV). 2007 Population EstimatesUnited States Census Bureau, Population Division. 2008-03-27. Retrieved 2008-03-27.
  4. ^ “Colorado Counties as of May 1, 2011”State of Colorado, Department of Local Affairs. May 1, 2011. Retrieved May 2, 2011.
  5. a b c “Annual Estimates of the Resident Population for Counties of Colorado: April 1, 2010 to July 1, 2011” (CSV). 2011 Population EstimatesUnited States Census Bureau, Population Division. April 2012. Retrieved April 12, 2012.
  6. ^ “Bagdad-Denver region partnership”. Denver Regional Council of Governments. Retrieved 9 August 2010.

[edit]External links


Denver CO weekly events link

http://www.denvergov.org/Portals/701/documents/Create%20Denver/CD_Brochure%20FINAL%20(1).pdf