Economic Snapshots and Stats

Boulder Valley Economic Snapshot - January '13

In taking literary license with Charles Dickens’ opening line in A Tale of Two Cities, the 2012 Boulder County real estate market wasn’t the best of times or the worst of times, but it did experience a marked improvement over the past several years. 

Single family home sales were UP 24.10% in 2012 when compared to 2011 (3,249 vs. 2,618). Attached unit sales were UP 20.48% for the same time periods (1,141 vs. 947). The collective market was UP 23.14% (4,390 vs. 3,565). This was the best year since 2007 for Boulder County sales activity, but it was still down 24.25% from 2005 when the market peaked (4,390 vs. 5,795).

The Absorption Rate (the length of time it would take for the market to fully turn) for single family homes ended the year at 91 days for Boulder County. 2011 ended the year at 156 days; 2010 at 189 days. Homes sold twice as fast in 2012 than they did in 2010. This was spurred my low mortgage interest rates and diminishing inventory. 

For Boulder County, the year ended with 814 active listings. This was down 27.39% when compared to the end of 2011 (814 vs. 1,121) and down 39.84% when compared to the end of 2012 (814 vs. 1,353). 

Below is an overview of sales activity for the past two years for single family homes in the various Boulder Valley areas, courtesy of IRES – the Northern Colorado MLS.

2013 promises to be a year of continued change. Here are some thoughts relative to what the Boulder County market may experience.

  • Lack of available inventory will further foster a seller’s market, with both the resale market and new construction benefitting. 
  • Land sales, once a dormant part of the real estate landscape, will experience a rebirth as production and custom builders seek out new opportunities. 
  • Home mortgage interest rates should continue to hover below 4.0% for the traditional thirty-year fixed rate mortgage as the economic impacts of the decisions surrounding the fiscal cliff become more apparent. 
  • Rental rates will continue to increase as the availability of rental units shrinks.

Transient

Aurora Economic Snapshot - January '13

Single family home sales were UP 3.58% in 2012 when compared to 2011 (3,636 vs. 3,510). Attached unit sales were UP 4.18% for the same time periods (1,343 vs. 1,289). The collective market was UP 3.75% (4,979 vs. 4,799). 

Thanks to our friend Paul Erdmann of RE/MAX Alliance Aurora for this great sunset photo over Cherry Creek Reservoir.

Thanks to our friend Paul Erdmann of RE/MAX Alliance Aurora for this great sunset photo over Cherry Creek Reservoir.

The Absorption Rate (the length of time it would take for the market to fully turn) for single family homes ended the year at 37 days for Aurora. 2011 ended the year at 56 days. This was spurred my low mortgage interest rates and diminishing inventory. 

For Aurora, the year ended with 368 single family home active listings. This was down 31.48% when compared to the end of 2011 (368 vs. 537). 

Below is an overview of sales activity for the past two years for single family homes and attached units in Aurora, courtesy of MetroList – the Denver Metro/Suburban Mountain MLS. 

2013 promises to be a year of continued change. Here are some thoughts relative to what the Aurora market may experience.

  • Lack of available inventory will further foster a seller’s market, with both the resale market and new construction benefitting. 
  • Land sales, once a dormant part of the real estate landscape, will experience a rebirth as production and custom builders seek out new opportunities. 
  • Home mortgage interest rates should continue to hover below 4.0% for the traditional thirty-year fixed rate mortgage as the economic impacts of the decisions surrounding the fiscal cliff become more apparent. 
  • Rental rates will continue to increase as the availability of rental units shrinks.

Transient

Broomfield/Westminster Economic Snapshot - January '13

Single family home sales were UP 14.10% in 2012 when compared to 2011 (4,029 vs. 3,531). Attached unit sales were down 1.04% for the same time periods (669 vs. 676). The collective market was UP 11.67% (4,698 vs. 4,207). 

The Absorption Rate (the length of time it would take for the market to fully turn) for single family homes ended the year at 61 days for Broomfield/Westminster. 2011 ended the year at 84 days. This was spurred my low mortgage interest rates and diminishing inventory. 

For Broomfield/Westminster, the year ended with 678 single family home active listings. This was down 17.02% when compared to the end of 2011 (678 vs. 817). 

Below is an overview of sales activity for the past two years for single family homes and attached units in Broomfield/Westminster, courtesy of MetroList – the Denver Metro/Suburban Mountain MLS. 

2013 promises to be a year of continued change. Here are some thoughts relative to what the Broomfield/Westminster market may experience.

  • Lack of available inventory will further foster a seller’s market, with both the resale market and new construction benefitting. 
  • Land sales, once a dormant part of the real estate landscape, will experience a rebirth as production and custom builders seek out new opportunities. 
  • Home mortgage interest rates should continue to hover below 4.0% for the traditional thirty-year fixed rate mortgage as the economic impacts of the decisions surrounding the fiscal cliff become more apparent. 
  • Rental rates will continue to increase as the availability of rental units shrinks.

Transient

Douglas County Economic Snapshot - January '13

Single family home sales were UP 24.20% in 2012 when compared to 2011 (6,107 vs. 4,917). Attached unit sales were UP 26.17% for the same time periods (752 vs. 596). The collective market was UP 24.41% (6,859 vs. 5,513). 

The Absorption Rate (the length of time it would take for the market to fully turn) for single family homes ended the year at 72 days for Douglas County. 2011 ended the year at 119 days. This was spurred my low mortgage interest rates and diminishing inventory. 

For Douglas County, the year ended with 1,210 single family home active listings. This was down 24.85% when compared to the end of 2011 (1,210 vs. 1,610). 

Below is an overview of sales activity for the past two years for single family homes and attached units in Douglas County, courtesy of MetroList – the Denver Metro/Suburban Mountain MLS.

2013 promises to be a year of continued change. Here are some thoughts relative to what the Douglas County market may experience.

  • Lack of available inventory will further foster a seller’s market, with both the resale market and new construction benefitting. 
  • Land sales, once a dormant part of the real estate landscape, will experience a rebirth as production and custom builders seek out new opportunities. 
  • Home mortgage interest rates should continue to hover below 4.0% for the traditional thirty-year fixed rate mortgage as the economic impacts of the decisions surrounding the fiscal cliff become more apparent. 
  • Rental rates will continue to increase as the availability of rental units shrinks.
Transient

Jefferson County Economic Snapshot - January '13

Single family home sales were UP 24.71% in 2012 when compared to 2011 (3,305 vs. 2,650). Attached unit sales were UP 16.97% for the same time periods (634 vs. 542). The collective market was UP 23.40% (3,939 vs. 3,192). 

The Absorption Rate (the length of time it would take for the market to fully turn) for single family homes ended the year at 57 days for Jefferson County. 2011 ended the year at 94 days. This was spurred my low mortgage interest rates and diminishing inventory. 

For Jefferson County, the year ended with 517 single family home active listings. This was down 24.53% when compared to the end of 2011 (517 vs. 685). 

Below is an overview of sales activity for the past two years for single family homes and attached units in Jefferson County, courtesy of MetroList – the Denver Metro/Suburban Mountain MLS. 

2013 promises to be a year of continued change. Here are some thoughts relative to what the Jefferson County market may experience.

  • Lack of available inventory will further foster a seller’s market, with both the resale market and new construction benefitting. 
  • Land sales, once a dormant part of the real estate landscape, will experience a rebirth as production and custom builders seek out new opportunities. 
  • Home mortgage interest rates should continue to hover below 4.0% for the traditional thirty-year fixed rate mortgage as the economic impacts of the decisions surrounding the fiscal cliff become more apparent. 
  • Rental rates will continue to increase as the availability of rental units shrinks.

Transient

Mountain Suburbs Economic Snapshot - January '13

In taking literary license with Charles Dickens’ opening line in A Tale of Two Cities, the 2012 Mountain Suburbs real estate market wasn’t the best of times or the worst of times, but it did experience a marked improvement over the past several years. 

Single family home sales were UP 26.95% in 2012 when compared to 2011 (989 vs. 779). Attached unit sales were UP 83.33% for the same time periods (33 vs. 18). The collective market was UP 28.23% (1,022 vs. 797). 

The Absorption Rate (the length of time it would take for the market to fully turn) for single family homes ended the year at 162 days for the Mountain Suburbs. 2011 ended the year at 265 days. This was spurred my low mortgage interest rates and diminishing inventory. 

For the Mountain Suburbs, the year ended with 439 single family home active listings. This was down 22.44% when compared to the end of 2011 (439 vs. 566). 

Below is an overview of sales activity for the past two years for single family homes in the Mountain Suburbs, courtesy of MetroList – the Denver Metro/Suburban Mountain MLS.

2013 promises to be a year of continued change. Here are some thoughts relative to what the Mountain Suburbs market may experience.

  • Lack of available inventory will further foster a seller’s market, with both the resale market and new construction benefitting. 
  • Land sales, once a dormant part of the real estate landscape, will experience a rebirth as production and custom builders seek out new opportunities. 
  • Home mortgage interest rates should continue to hover below 4.0% for the traditional thirty-year fixed rate mortgage as the economic impacts of the decisions surrounding the fiscal cliff become more apparent. 
  • Rental rates will continue to increase as the availability of rental units shrinks.

Transient

South Metro Denver Economic Snapshot - January '13

Single family home sales were UP 20.50% in 2012 when compared to 2011 (12,138 vs. 10,073). Attached unit sales were UP 15.59% for the same time periods (4,826 vs. 4,175). The collective market was UP 19.06% (16,964 vs. 14,248).

The Absorption Rate (the length of time it would take for the market to fully turn) for single family homes ended the year at 46 days for South Metro Denver. 2011 ended the year at 86 days. This was spurred my low mortgage interest rates and diminishing inventory. 

For South Metro Denver, the year ended with 1,540 single family home active listings. This was down 35.19% when compared to the end of 2011 (1,540 vs. 2,376). 

Below is an overview of sales activity for the past two years for single family homes in South Metro Denver, courtesy of MetroList – the Denver Metro/Suburban Mountain MLS.

2013 promises to be a year of continued change. Here are some thoughts relative to what the South Metro Denver market may experience.

  • Lack of available inventory will further foster a seller’s market, with both the resale market and new construction benefitting. 
  • Land sales, once a dormant part of the real estate landscape, will experience a rebirth as production and custom builders seek out new opportunities. 
  • Home mortgage interest rates should continue to hover below 4.0% for the traditional thirty-year fixed rate mortgage as the economic impacts of the decisions surrounding the fiscal cliff become more apparent. 
  • Rental rates will continue to increase as the availability of rental units shrinks.

Transient