Home : Blogs : Dan Hopper, Denver Realtor® Advocate/Short Sale/Loan Modification : Short Sales Stop Foreclosure inShare Reblog_disabled Re-blogged 0 times January 2013 Economic Outlook for Westminster and Broomfield!!

January 2013 Economic Outlook for Westminster and Broomfield!!

>

 

In taking literary license with Charles Dickens’ opening line in A Tale of Two Cities, the 2012 Broomfield/Westminster 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 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).

 Search for Homes under $500,000 in the City and County of Broomfield!

 

View Broomfield / Westminster Areas! in a larger map

© 2012 RE/MAX Alliance. All rights reserved.

SEARCH FOR HOMES IN THE CITY OF WESTMINSTER UNDER $350,000, HERE!!

Thanks for reading this,  Dan Hopper.

Instant Search for COLORADO HOMES, click Sign:




FORECLOSURE SEARCH, click Sign:

FOLLOW DAN HERE:

Dan Hopper specializes in assisting home owners to avoid Foreclosure in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.

Thank you for reading, "January 2013 Economic Outlook for Westminster and Broomfield!!"

Updated 2012 Economic Outlook in the Broomfield/Westminster Areas!

 Westminster, CO -  How is the 2012 Economic Outlook in your areas?   Here is what we are finding in the Broomfield / Westminster areas of our office location.

For Broomfield/Westminster, single family homes sales are UP 15.46% YTD through

October/2012 when compared to through October/2011.   

Active listings for single family homes were down approximately 23% at

the end of October/2012 when compared to the end of October/2011 (782 vs. 1,019) and down

approximately 50% when compared to the end of October/2010 (782 vs. 1,570).

The Absorption Rate (the length of time it takes for the market to fully turn, assuming a

continued level of sales activity and no new inventory coming into the market) stands at 70 days

YTD at the end of October/2012 for single family homes in Broomfield/Westminster. The

Absorption Rate for single family homes at the end of October/2011 for Broomfield/

Westminster was 105 days. On average single family homes are selling 33% quicker thus far this

year than they did last year.

(Statistics courtesy of MetroList – Denver Metro MLS)

View Broomfield / Westminster Areas! in a larger map

Look for the Broomfield/Westminster real estate market to continue its customary path this fall as sales activity and inventory levels decline through the balance of the year.
Home mortgage interest rates should remain around 3.25% to 3.5% for the traditional thirty-year fixed-rate
loan.
New home construction will continue to increase across the Denver Metro area, Boulder Valley, and Northern Colorado as new subdivisions come on-line and in-fill projects are built out.

As noted by the chart above, home values have increased over the past year in Broomfield/Westminster. With the increase in sales activity and decrease in available inventory … scarcity will create demand!!
© 2012 RE/MAX Alliance. All rights reserved.

Thanks for reading this,  Dan Hopper.
Instant Search for COLORADO HOMES, click Sign: 




FORECLOSURE SEARCH, click Sign: 

FOLLOW DAN HERE:

    

Dan Hopper specializes in assisting home owners to avoid Foreclosure in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.
Thank you for reading, "2012 Economic Outlook in the Broomfield / Westminster, CO Areas!"

2012 Economic Outlook in the Broomfield / Westminster, CO Areas!

Westminster, CO - As fall looms on the horizon the 2012 Economic Outlook in the Broomfield/Westminster real estate market continues to show improvement over 2011.

Through August/2012 Broomfield/Westminster single family home sales are UP 13.12% compared to through August/2011; attached unit sales are UP 6.68% for the same time periods; the overall market is UP 12.13%.

The Absorption Rate (the time it takes for the market to fully turn) currently stands at 72 days for Broomfield/Westminster single family homes. At the end of August/2011 the Absorption Rate for Broomfield/Westminster single family homes was 117 days.

Active single family home listings are up 7.98% (798 vs. 739) when comparing August/2012 to July/2012. At the end of August/2011 there were 1,141 active single family home listings in Broomfield/Westminster That equates to 30.07% fewer single family homes available for sale at the end of August/2012 than at the end of August/2011.

At the close of 2012 there will be less than 650 single family homes on the market for sale in the Broomfield / Westminster area.

Below is a brief overview of average single family and attached unit values for the Broomfield/Westminster area for the past two years.

(Information is from MetroList, the Denver Metro MLS.)

Single Family             2011(Thru August)               2012 (Thru August)
    Area                       Average SalesPrice               Average Sales Price                  % Change
Broomfield....................... $184,392........................... $204,132.........................+10.70%
North Suburban Central.... $181,053........................... $196,717.........................+8.65%
North Suburban West........ $203,455........................... $224,775.........................+10.47%
===== ===== =====
TOTAL    $189,608 $207,318 +9.34%
Attached Units
Broomfield....................... $110,810........................... $115,082.........................+3.85%
North Suburban Central.... $97,824............................. $112,180.........................+14.67%
North Suburban West........ $109,526........................... $134,481.........................+22.78%
===== ===== =====
TOTAL    $104,072 $123,373 +18.54%

View Broomfield / Westminster Areas! in a larger map

Look for the Broomfield/Westminster real estate market to continue its customary path this fall as sales activity and inventory levels decline through the balance of the year.

Home mortgage interest rates should remain around 3.5% to 4% for the traditional thirty-year fixed-rate
loan.

New home construction will continue to increase across the Denver Metro area, Boulder Valley, and Northern Colorado as new subdivisions come on-line and in-fill projects are built out.

As noted by the chart above, home values have increased over the past year in Broomfield/Westminster. With the increase in sales activity and decrease in available inventory … scarcity will create demand!!

© 2012 RE/MAX Alliance. All rights reserved.

Thanks for reading this,  Dan Hopper.

Instant Search for COLORADO HOMES, click Sign:




FORECLOSURE SEARCH, click Sign:

FOLLOW DAN HERE:

 

Dan Hopper specializes in assisting home owners to avoid Foreclosure in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.

Thank you for reading, "2012 Economic Outlook in the Broomfield / Westminster, CO Areas!"