Denver Real Estate News (Data and Charts only) (Aurora, Commerce City: days on market, best city)

[2bindenver]

MODERATOR NOTES (5-5-14):

The topic of Real Estate is too widespread to keep in just one thread, THIS thread is reserved for DATA and CHARTS.
The DISCUSSION and OPINION of Real Estate has been moved to a new thread, found here.



Commerce City buys Mile High Greyhound Park for redevelopment - The Commerce City Urban Renewal Authority said Wednesday it has bought Mile High Greyhound Park and plans to re-develop the site. City officials envision the site as a mixed-use development. It has been designated a Colorado Enterprise Zone, which qualifies businesses that locate there for tax credits. City officials want to finalize a plan by May 2012, then send the project out with a request for proposals. Read article:
Commerce City buys Mile High Greyhound Park for redevelopment - Denver Business Journal

[cowboyxjon]

I know I've said this on another thread, but I've been impressed with Commerce City's efforts to redefine itself. Yes, it still has the older neighborhoods and the refinery, but, the Civic Center area and Dick's Sporting Goods park are impressive. Reunion is a nice subdivision too, even though it's far away from everything. Gotta give them credit for trying! I'm interested to see how this effort unfolds.

[2bindenver]

The Urban Land Conservancy today hosted federal, city and community leaders for a groundbreaking ceremony at Mile High Vista in west Denver to signal the start of development of a public library, mixed-use, multi-family workforce housing and commercial space in partnership with the City and County of Denver and Del Norte Neighborhood Development Corporation.

[davebarnes]

A good blog to follow is Inside Real Estate News

[2bindenver]

is to be finished in 2014 - The company redeveloping the old University of Colorado Hospital campus expects the project will be completed in about three years — 10 years after the hospital left the site for the Anschutz Medical Campus in Aurora. St. Petersburg, Fla.-based Sembler Co. in April agreed to buy the 28-acre property at East Ninth Avenue and Colorado Boulevard for $34.8 million. Sembler plans to start construction next April on a $180 million project that will have about 500 residences and 350,000 square feet of retail space. Read article:
Old University of Colorado Hospital campus redevelopment to be finished in 2014 - The Denver Post

[2bindenver]

Case-Shiller: Denver No. 3
Denver's housing market ranked third in June on a year-over-year basis out of the 20 major metropolitan areas tracked by the closely watched Case-Shiller report released today. That was the first time in a year and a half that Denver had ranked so well. Denver's housing market fell by 2.5 percent in June from June 2010, with only Washington, D.C. and Boston, which fell 1.2 percent and 2.1 percent, respectively, doing better. All 20 cities were in negative territory on a year-over-year basis. Overall, the 20 MSAs lost 4.5 percent.

[2bindenver]

Denver ranked 5th best city in the nation for senior living - Denver was listed today as the fifth best place in the United States for "senior living" by Banker's Life and Casualty Company's Center for a Secure Retirement. The survey took into account various factors including health care, economy, health and longevity, social, environment, spiritual life, housing, transportation and crime. Read article:
Denver ranked 5th best city in the nation for "senior living" - The Denver Post

[Mike from back east]

Bloomberg has one of it's periodic articles that draws on recent data from the Case Shiller index. It shows that Denver, Boston, DC, and Dallas are the only big cities to have values drop less than 5% over the past 3 years.

On the other hand, here are the markets where home prices have really tanked in the last 3 years:
-36% in Las Vegas
-28% in Phoenix
-25% in Tampa
-21% in Atlanta
-21% in Miami
-21% in Seattle

Data only show the drop in 3 years. In my case, the type of home that we sold in Northern Virginia (25 miles west of DC) for $500k in 2005 is now selling for $350k, which is a 30% drop.

[2bindenver]

Latest numbers are average sold price is:
$245,546 This number includes condos.

Average Sold Price for residences was $269,503.

You are ok.

[2bindenver]

On a Monthly basis, comparison of month over month and year over year:

Single Family takeaways:
o The inventory of unsold homes is at 14,275 units, down 10% with October ‘11 level and down 30% from November ‘10.
o 3,365 units were placed under contract in November, down 12% with October ‘11 and up 9% from November ‘10.
o 3,068 units sold in November ‘11, down 4% from October ‘11 and up 15% from November ‘10.
o Single Family average prices, $252,009 for November ‘11, increased 3% for month over month and decreased 3% year over year.

Residential and Condo takeaways:

o Residential average price, $275,951 for November ‘11, increased 2% month over month and decreased 2% year over year.
o Condo average price, $153,526 for November ‘11, decreased 4% month over month and decreased 7% year over year.
o Condo median price, $125,000 in November ’11, remains stable month over month and year over year.
o Residential median prices increased 2% to $230,300 in November ‘11 when compared to October ‘11 and decreased 2% when compared to November ‘10.

On a Year to Date basis, comparison of YTD 11/2011 to YTD 11/2010:

Residential:
• Sales units 35,735 vs 37,068 (↓4%)
• Median Price $229,900 vs $230,250 (↔)
• Average Price $280,230 vs $282,717 (↓1%)
• Sales Volume $8.1B vs $8.0B (↑1%)
• Days on Market 105 vs 89 (↑22%)

• Condo:
• Sales units 7,325 vs 7,439 (↓2%)
• Median Price $125,000 vs $133,000 (↓6%)
• Average Price $158,520 vs $160,533 (↓1%)
• Sales Volume $1.1B vs $1.1B (↔)
• Days on Market 117 vs 95 (↑23%)