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Tuesday, June 3, 2014

Jeffco Inventory Up, But Not Meeting Demand

[Published June 5, 2014, in the Jeffco editions of the Denver Post's YourHub section. An abbreviated version also appeared in five Jefferson County weekly newspapers.]

By JIM SMITH, Realtor ®

A month ago I shared MLS statistics for the full metro area, but here are Jeffco’s statistics.

 The chart at right shows the change in average listing price and average days on market (DOM) for Jefferson County over the last five years. While the average listing price is at its highest ($300,000), the average DOM is at its lowest (7 days).

     Days on market does vary within the county.  Based on postal address, here are the figures for the following “city” addresses:

Westminster & Edgewater — 5 days
Lakewood, Littleton & Wheat Ridge — 6 days
Golden — 7 days
Arvada — 8 days
Morrison — 12 days
Conifer — 24 days
Evergreen — 35 days
Pine — 36 days

If you limit “Golden” to non-foothills listings, the average DOM drops to 5 days.  Elsewhere in the Denver metro area, DOM ranges between 6 and 7 days, except for Boulder, which is 43 days.
In the charts below you can see that while 1,437 new listings were added in May, only 1,385 active listings remained at the end of the month, and inventory can’t go much lower.

Here are some other charts that weren't published in the newspaper because of space limitations:
(the above chart is limited to Jeffco sales only)
Here are some charts for all 7 metro area counties combined:




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