There were 11 sales in the past year in Homestead Hills which equals a 4.07% turnover rate. The annual absorption rate is 2.17 months and the average sold price was $331,290 and the average price per above ground square foot was $116.01.
The average asking price for the 2 homes that are currently on the market is $397,000. If you would like this analysis for your neighborhood just email me at tom@tomwitzel.com and I put gather the information for you.

There were 22 sales in the past year in Fallbrook Farms which equals a 8.37% turnover rate. The annual absorption rate is 4.92 months and the average sold price was $298,023 and the average price per above ground square foot was $122.91.
The average asking price for the 9 homes that are currently on the market is $293,288. If you would like this analysis for your neighborhood just email me at tom@tomwitzel.com and I put gather the information for you.

There were 30 sales in the past year in the Haven At York Street which equals a 5.93% turnover rate. The annual absorption rate is 3.20 months and the average sold price was $335,190 and the average price per above ground square foot was $125.77.
The average asking price for the 8 homes that are currently on the market is $322,350. If you would like this analysis for your neighborhood just email me at tom@tomwitzel.com and I put gather the information for you.

There were 25 sales in the past year in Quail Valley which equals a 5.98% turnover rate. The annual absorption rate is about 1 month and the average sold price was $263,712 and the average price per above ground square foot was $134.92.
The average asking price for the 2 homes that are currently on the market is $357,000. If you would like this analysis for your neighborhood just email me at tom@tomwitzel.com and I put gather the information for you.

There were 23 sales in the past year in Signal Creek which equals a 3.14% turnover rate. The annual absorption rate is 3.65 months and the average sold price was $261,305 and the average price per above ground square foot was $119.66.
The average asking price for the 7 homes that are currently on the market is $267,207. If you would like this analysis for your neighborhood just email me at tom@tomwitzel.com and I put gather the information for you.

There were 55 sales in the past year in Cherrywood Park which equals a 5.15% turnover rate. The annual absorption rate is 3.28 months and the average sold price was $231,711 and the average price per above ground square foot was $123.00.
The average asking price for the 15 homes that are currently on the market is $246,699. If you would like this analysis for your neighborhood just email me at tom@tomwitzel.com and I will gather this information for you.

The people at Capital economics seem to think so, and think improvement is due later this year. Some of their reasons include the stabilization of mortgage lending standards, a slight loosening of loan-to-value ratios & credit requirements in the 4th quarter of 2011 were consistent with the first 3 quarters.

On a personal observation I do believe the housing market is improving, I completed 4 closing for the month of January and when showing other clients potential homes to purchase I was consistently meeting other Realtors with their clients at the same houses, this has not happened in along time.

A improving market will help both buyers & sellers.

Residential Highlights
• 15.2% Increase in closed sales year over year
• 39.4% Decrease in Absorption Rate (4.7 months)
• 33% Decrease in active listings (10,213)
• 2% Decrease in average sold price ($275,951)
Condo/Townhome Highlights
• 14.5% Increase in closed sales year over year
• 47.9% Decrease in inventory (2,421)
• 7% Decrease in average sold price ($153,526)
The numbers for November show that more single family homes & condos sold when compared to 2010 & the available inventory is down. Prices may start to rise in the spring of 2012. The December numbers should be available in early January.

Interest rates are still great! Some of my clients recently have been able to get 3.875% on a 30 year fixed rate! The inventory in the Denver market is down and prices may start to rise after the first of the year, if you are thinking about purchasing now is the time. On the other hand if you are selling your home may not be worth what it was or what you expected it to be however if you are buying it is possible to get a good deal! Give me a call at 303-808-2206 and let’s talk about your plans.

Credit Suisse conducts a monthly survey of Realtors across the country and in Denver the survey revealed that the available inventory is shrinking especially below $400,000. First time home buyers are starting to realize that it is cheaper to own a home than paying rent as well. The smaller inventory may start to have an impact on asking prices in the very near future.