Author Archive
Denver Lofts and Condos Appreciate
Posted by: | CommentsBy Lon Welsh, Your Castle Real Estate
Denver lofts, condos and town homes have notoriously underperformed the macro Denver real estate market. But, in the first half of 2010 even lagging condos showed signs of rebound as they already have in cities like Washington DC and New Orleans.
Click on the map to enlarge. Then, zoom in(+) to see neighborhood details.
Luxury Denver Home Market
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Luxury home sales increased in second quarter along with prices.
Like the rest of the market we study, luxury home prices appear to have stabilized and actually improved somewhat in the second quarter of this year. In fact, sales these homes priced above $460,000 increased 13%.
Why does $460,000 define luxury home sales? Read More→
Denver Neighborhoods Home Price Trends
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- Lon Welsh is a statistician and Denver real estate Broker
By Charles Roberts and Lon Welsh
Second Quarter Denver Home Prices
The Denver real estate market had a great second quarter. If you compare the twelve months from July 2009 – June 2010 to the twelve months immediately preceding it, the average Denver home price increased 7.4%.
But, the devil is in the details. Some Denver neighborhoods experienced great price appreciation and some suffered price deflation. The following map shows how individual neighborhood fared. Read More→
What are the odds of your home selling?
Posted by: | CommentsLon Welsh, Your Castle Real Estate
Denver Foreclosure (REO) homes are most likely to sell. Short sales (S/S) were least likely. The cheaper the single family home (DSF), the more likely it will sell.
We just finished an analysis of which homes are most likely to sell in the Denver real estate market. We found that overall, 42% of the homes listed between January and September 2009 went on to sell. We didn’t look at more recent listings since it takes many months for some homes to attract a buyer, and then 30-60 days to go on to close.
The odds of your home selling are highly dependent on a few factors: Read More→
Fear and Loathing Shadow Inventory
Posted by: | Commentsby Lon Welsh, Owner, Your Castle Real Estate
Some real estate experts fear Shadow Inventory will force the housing market into another recession. “Shadow Inventory” refers to foreclosure homes owned by lenders or about to acquired by lenders through foreclosure that have a high likelihood of coming onto the Denver real estate market this year. They are homes that may be currently in default or owned by the Banks. Or, hey may or may not yet have a Notice of Election and Demand from a Public Trustee but are in defualt.
Today’s Wall Street Journal depicts the potential size and the scope of the shadow foreclosure real estate market for homes across the United States. That economist pegs it at 1.1 million homes. The Denver metro area Read More→
Early Febuary Home Sales
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February Denver home sales are steady in preliminary results
By Lon Welsh, Your Castle Real Estate
While we wait for Metrolist, Denver MLS to release the official Denver home sales for February, I have compiled some preliminary results. These suggest that the Denver real estate market continues to “hold its own’ especially in comparison to other national markets.
So far, it looks like the number of homes sold in Feb 2010 was about the same as Feb 2009. We saw +9% Jan 2010 vs. Jan 2009 for number of homes sold. This will be more precise in a few days because the Metrolist statistics take some time to compile. Read More→
2009 Denver Real Estate Market
Posted by: | Comments(Exclusive to All Denver Real Estate – Ed: Case-Shiller has already reported that Denver home prices dropped the least of all national real estate markets in October. But, October is their latest data set. Here our own Lon Welsh shows that there is more evidence that prices are turning upward and reversing their downward trend. He bases this on statistical analysis of our worst market segments in the metro area.)
By Lon Welsh, Your Castle Real Estate and All Denver Real Estate Contributor
Some Home Prices Begin Appreciation
As a statistician by education and background, I am drawn to make conclusions about the Denver real estate market based on numbers and charts. Let’s compare the overall housing market in metro Denver to the subsections that have suffered the worst price declines and the most foreclosures. Consider these following graphs compiled from Denver Metrolist MLS data.
Discount Buying
Posted by: | CommentsBy Lon Welsh, Real Estate Market Statistician
Are Buyers Still Getting Discounts When They Buy a House? After all, everyone believes even Denver is a Buyer’s Market.
Actually, it depends on what sort of house Buyers are purchasing. Non-distress sales are those being sold by traditional sellers. In the last few months, the average discount in the Denver metro area was only 2.5% off the last asking price. In many cases, the seller had to have a number of price reductions before they finally attracted an offer. This discount has been relatively stable for about two years. 
On the other hand, the distressed home sellers have had a really different experience. Read More→
Price Declines: Not The Same
Posted by: | CommentsBy Lon Welsh, Realtor Statistician
Price declines in the Denver real estate market are not effecting all homes in the same way.
If you compare the average sales price of home from January to May 2009 and compare it to the same time period in 2008, you will find the average Denver home price dropped about 8%. (It has since improved a bit to a -6% year on year decline). Are all homes impacted in the same way? It depends a lot on the size of the house!
- Larger homes in the Denver real estate market have declined the most.
