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Southwest Denver Market Conditions

by Mark Weisman

July's housing statistics for Eugene-Springfield indicate that home sales picked up, continuing a trend that we've seen for a few months. Home values were one part of the real estate market that hasn't improved.

Here are some key data points:

New listings increased by 5.3% in July  compared to July of 2011; this represents a 4.7% increase over June of this year.

Pending sales increased. They were up by a substantial 20.9% over July of 2011 and up 4% from June of this year.

Closed sales increased by 24.1% compared with July of 2011. This is an 18.5% increase over June of 2012.

There were 5.9 months of active inventory, compared with 8.6 months of inventory in July last year, and 6.7 months in June of this year.

July of 2012 saw 1,839 active listings while it took an average of 100 days for listed homes to sell. In June, the average days to sell numbered 135.  

$206,200 was the average home selling price; in July of 2011 the average sales price was $226,200.
These are positive indicators for a market that has certainly seen tough sledding. Let's hope it carries into the fall because the autumns of both 2011 and 2010 witnessed sluggish markets.
Stay tuned because the next quarter or two will reveal whether the Eugene-Springfield can be called "recovered."

Short Sales Surpass Bank Owned Transactions

by Mark Weisman

Bloomberg recently reported that short sales have moved past bank owned (REO) sales for the first time. Apparently, banks have decided that they will earn more on a short sale than by pursuing the whole process of foreclosure. (see link to article at http://tinyurl.com/7mt7f82 )

This is positive for sellers because short sales bring less negative credit consequences effects than foreclosures. This means that, while short sales are tough to endure, life will improve sooner than would be the case in a foreclosure.

The HomeVenture Real Estate Partners Team is well trained, has a great deal of experience and can help both buyers and sellers. In the end, you want a well trained Realtor who can help deals get done, so if you have any short sale questions don't hesitate to contact us today!

Displaying blog entries 1-2 of 2