DECEMBER 2014 METRO- DENVER UPDATE Results based on the 7 metro counties of Denver (Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson).

DECEMBER 2014 SNAPSHOT There were 3,802 homes sold in December of 2014, to create a "balanced market" we would need to have 22,812 active units to offset the demand. We only have 16.5% of the required inventory to support the amount of demand in Denver, or there is an 83.5% deficiency in inventory. At the current rate of demand, we will run out of homes to sell in 30 days if nothing new comes onto the market. Historically the least amount of new homes enter the market between December and February. This creates an environment where houses will sell at a premium price due to lack of inventory.

2014 YEAR IN REVIEW Many records hit when reviewing data from the last 10 years. Highest Average Sold Price Detached Residential: $379,790 December 2014 Attached Residential: $237,462 November 2014 Lowest Active Inventory Detached Residential: 3,018 December 2014 Attached Residential: 760 December 2014 Lowest Days on Market Detached Residential: 25 days to contract June 2014 Attached Residential: 21 days to contract May 2014 Lowest Months Supply of Inventory Detached Residential: 1.1 months December 2014 Attached Residential: 0.7 months December 2014

DETACHED RESIDENTIAL PROPERTIES STATISTICS YEAR OVER YEAR: Active inventory declined by % year over year. Under Contract properties declined -0.3% vs. the same month a year ago. Sold detached dwellings decreased from December 2013 by 10.4%. MONTH OVER MONTH: Inventory down by -16.5% from November. Under Contracts down -24.3% from one month ago. Sold detached dwellings up slightly by 6.1% vs. last month.

ATTACHED RESIDENTIAL PROPERTIES STATISTICS YEAR OVER YEAR: Active inventory continues to hover around historic lows, down by -42.7% vs. the same month one year ago. Under Contract units up 27.6% from December Sold attached dwellings up by 46.1% year over year. MONTH OVER MONTH: Active condo units down by -17.9% from November to December. Under contract properties down -21.9% from month-over-month. Sold attached dwellings are up 3.4% from last month.

AVERAGE DAYS ON MARKET – DETACHED PROPERTIES Average days on market reached their lowest in June 2014 at 25. Currently sitting at 46 days, down -9.8% from one year ago. Historical average is usually between days on market. Average days on market by price segment is below average until the $400,000 range. Shortest average days on market is in the $0-199k and $ K segments.

AVERAGE DAYS ON MARKET – ATTACHED PROPERTIES Currently days on market sits at a near low of 38. This is down 21.7% from one year ago. Near a record low, historical average is typically days to contract. Average days on market in this calculation is slightly different than as reported by the MLS due to a variance in the way data is obtained. Just over 3 weeks to contract for properties under $200,000.

CALL ME TODAY IF YOU HAVE ANY QUESTIONS REGARDING THE HOME OWNERSHIP EXPERIENCE! Robert E. Blase Phone: Website: All data provided by Megan Aller with Land Title