In a interview with CNBC yesterday Warren Buffet says it is time to buy houses and indicated that houses were an attractive asset class and if he could figure out a way to manage the property he would buy a couple of hundred thousand single family houses. Mr. Buffet also stated that he thought that the housing market would improve this year. The oracle of Omaha also indicated that more households are being created and that would start to take some of the inventory of houses off of the market and that the law of supply and demand would come back into play and that eventually we will need to have a million housing units built due to the demand.
I believe we are starting to see this as the available inventory in the Denver market is dramatically lower than we normally see at this time of the year in both the single family and condo categories of the market.

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.