JUNE 2014 HOME SALES RESULT – DENVER

METROResults based on the 7 metro counties of Denver (Adams, Arapahoe,

Broomfield, Denver, Douglas, Elbert and Jefferson).

MAJOR CHANGES

• There are 9,278 Active units for sale in all of Metrolist on July 8, 2014.

• However only 6,946 Active units for sale in the 7 Metro Counties, the same day.

• 50.4% of sold transactions went under contract in 7 days or less, and 52.9% sold for at or over their asking price.

MAJOR CHANGES CONT…

• Detached residential properties that sold under $200,000 went for 101.6% of their last asking price.

• Based on the closed transactions in June of 5,374 we need 32,244 active listings to create a balanced market with 6 months of inventory. There are only 6,926 active attached and detached units in the market place, we are short of inventory by 78.5%.

DETACHED RESIDENTIAL PROPERTIES

• At current levels of inventory for detached properties, we are deficient of homes by 76% of what Denver would need to have a balanced market.

• The market is most heavily favoring a seller’s market in the $200,000-

$399,999 range where Denver only has 12.0% of the required inventory.

• Active inventory declined by nearly -27.1 % year over year.

ATTACHED PROPERTIES

• Active inventory continues to hover around historic lows, down by -13.3% vs the same month one year ago.

• Under Contract units up 1.5% from June 2013.

• Sold attached dwellings up by 25.8% Year over Year.

• Active condo units up by 2.7% from May to June.

• Solds are up another 2.7% from last month.

• Inventory remains at near all-time lows.

• Supply remains at an all time low of 1.0 months of inventory.

THE ODDS OF SELLING DETACHED PROPERTIES

• Prior to the market recovery in 2012, the odds of selling in a given month hovered around about 25% for Detached properties.

• Previously the highest this number has measured in the last 7 years was in

April of 2013 at nearly 60%. We hit 59.4% in June of 2014.

• Average sold prices way up to $376,971. Up 7.9% over prior year and up

0.2% from prior month.

• June 2014 saw the highest average prices we have ever recorded.

• This is up from the bottom of the market in 2009 where average values were $230,878 for a total difference of $146,093.

CONCESSIONS- DETACHED SINGLE FAMILY JUNE 2014

Price Range Average Price Average Concessions

0-199k $163,367 $1,208

200-399k $289,509 $1,253

400-599k $471,245 $1,051

600-799k $682,855 $1,213

800-999k $884,790 $692

1-3M $1,462,735 $1,081

3M+ $4,261,314 $1,478

Grand Total $376,971 $1,191

CONCESSIONS- ATTACHED SINGLE FAMILY MAY 2014

Price Range Average Price Average Concessions

0-199k $138,105 $782

200-399k $271,323 $729

400-599k $482,438 $358

600-799k $669,584 $548

800-999k $873,255 $1,045

1-3M $1,643,600 $4000

Grand Total $224,492 $748

AVERAGE DAYS ON MARKET – DETACHED PROPERTIES

• Average days on market reached their lowest in June 2014.

• Currently sitting at 25 days, decrease by -10.7% from May, and down

-41.9% from one year ago.

• Historical average is usually between 90-110 days on market.

• Average days on market by price segment is below average until the

$400,000 range.

• Shortest average days on market is in the $0-199k and $200-399K

segments.

AVERAGE DAYS ON MARKET – ATTACHED PROPERTIES

• Currently days on market sits at a near low of 22 days.

• This is down 48.8% from one year ago, and up 4.8% from the previous

month.

• Near a record low, historical average is typically 100-120 days to contract.

• Average days on market in this calculation is slightly different than as

reported by the MLS due to a variance in the way data is obtained.

• Just over 2 weeks to contract for properties under $200,000.

EXPLANATION OF PREVIOUS SLIDE

• Based on June 2014 results, homes that sold within the first week of being listed averaged 101.6% of the listing price.

• If the home sat for longer than 2 weeks, the average sales price was just under 98% of the asking price.

• The trend continues downward the longer the property is on the market. Thus, having it priced right is essential in selling your home quickly.

CALL ME TODAY IF YOU HAVE ANY QUESTIONS REGARDING THE HOME

OWNERSHIP EXPERIENCE!Robert E. Blase

Phone: 720-600-9035

E-mail: robertblase@kw.com

Website: robertblase.kwrealty.com