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Second quarter market report for Parker Colorado real estate and homes for sale.
Real estate and homes for sale market stats for Parker, Colorado.Reported by Steven Beam a local Parker, CO real estate broker.
Remember “All real estate is local.”
Here they are. Being the end of the second quarter 2008 and the fact that I’ve been to so many economic meetings and forums in the past two weeks I gathered a ton of stats, information, opinions and BS. I’ll try to weed through the BS and present the facts as I pulled them from the MLS (Multiple Listing System) and other data exchanges.
FYI- I can provide you with an RSS feed of properties in your neighborhood or areas of interest so you never have to receive another email about homes for sale. I can send it directly into your RSS reader. Call or email if interested. 303-941-4663
Individual subdivisions like Newlin Meadows here in Parker, Colorado will also be broken down in the days to come so if you don’t want to see a full view of the overall Parker Colorado real estate market look to the right and find your neighborhood in Parker, Colorado and click the link to find each subdivisions own market report.
For most of the report I will only be reporting on Parker, Colorado that lies within Douglas County. There is a small portion that is located in Elbert County but for the most part the majority of the homes will be included.
Oh…and I deleted the $22,000,000 luxury home for sale. For obvious reasons it would skew all the numbers and we would really be out of wack. If you want to buy it call me and I would be happy to sell it to you. It’s over 42,000 square feet so maybe I could move in with you as well. You would never know I was there…I promise.
Luxury Homes neighborhood The Timbers in Parker Market Report.
Quick notes on the Parker, Colorado real estate market.
- The median home sales price of just around $300,000 for the months of April, May and June 2008 make Parker a really affordable option compared to Denver.
- Median Sales price for condos in Parker Colorado is just over $150,000.
- In the second quarter our sales volume picked up.
Monthly sales volume for all of Parker, Colorado
| Date | Homes Sold | Condos Sold | Land Sold | Total Sold | % Change |
| April 2007 | 155 | 17 | 3 | 175 | |
| April 2008 | 138 | 20 | 1 | 159 | -9% |
| May 2007 | 190 | 35 | 3 | 228 | |
| May 2008 | 164 | 19 | 1 | 184 | -19% |
| June 2007 | 187 | 27 | 0 | 214 | |
| June 2008 | 142 | 25 | 2 | 169 | -21% |
What do the numbers tell me as a Realtor? You better be pricing your home properly and it better be in top selling shape even if you have to get the property staged.
FYI-Did you know that Steven Beam will send a professional cleaning crew to your house for two hours to help you get your property in showing condition? I send two bonded workers to your house for two hours for FREE! Have them clean whatever you like.
Obviously the sales numbers are down but so is inventory. We were holding near 30,000 homes on the market for the entire Denver Metro area just a little over a year ago. Now we are down to just over 20,000. That is a huge reduction in inventory.
Average Sale Price in Parker Colorado & Denver CO.
Second quarter 2007 versus second quarter 2008.
| April 2007 | April 2008 | % Chg | May 2007 | May 2008 | % Chg | June 2007 | June 2008 | % Chg | Q2 2007 | Q2 2008 | % Chg | |
| Residential Parker | $361,846 | $341,172 | -6% | $381,141 | $383,117 | 1% | $368,331 | $341,544 | -7% | $370,439 | $355,278 | -4% |
| Residential Denver | $429,265 | $464,917 | 8% | $456,457 | $480,337 | 5% | $430,213 | $490,076 | 14% | $438,645 | $478,443 | 9% |
| Condos Parker | $161,229 | $166,668 | 3% | $169,482 | $172,936 | 2% | $166,763 | $172,936 | 4$ | $165,825 | $170,847 | 3% |
| Condos Denver | $231,620 | $283,953 | 23% | $236,767 | $283,342 | 20% | $241,476 | $291,319 | 21% | $236,618 | $286,205 | 21% |
Here’s the real kicker and if you are selling your home you better know these numbers.
Sales by NET SOLD Price – price range.
The NET sale price is the amount a seller sells the house for minus any sales concessions given to the buyer. If the contract price is $100,000 and the seller give the buyer $5000 to pay for closing costs the NET SALES price is $95,000.
- 0$ – 199,999 = 21 Sales
- $200,000 – $399,999 = 319 Sales
- $400,000 – $599,999 = 64 Sales
- $600,000 – $799,999 = 11 Sales
- $800,000 and above = 16 Sales.
Yesterday when I pulled homes in Parker Colorado listed for sale at $800,000 and above my search produced over 200 homes for sale at or near one million dollars. WOW! I hope you hired a REALTOR that knows how to market high-end luxury homes in Parker Colorado.
Media Driven Real Estate Hysteria!
This is the kind of reporting that keeps the newspaper from ever hitting my driveway. When a statistical report comes out from anyone spewing numbers I swear the papers will print it. They print one stat driven report one day and the next a report saying just the opposite.
“Metro Housing Market Boosted in June”
By Margaret Jackson The Denver Post Article Last Updated: 07/08/2008 09:25:32 AM MDT
“House, condo sale pick up in June”
By-Paula Moore The Denver Business Journal – July 8, 2008
“Median homes take a dive during June.”
July 8th, 2008 Rocky Mtn News. By-John Rebchook
Too often the papers or TV news report national housing stats as if they are gospel for our local Denver Metro or Parker real estate market. What happens in Las Vegas or Florida has nothing to do with Parker Colorado home prices. NOTHING.
What do you do with all this conflicting information? To be honest throw it out the window. Let me tell you five words that hold true for real estate no matter what. “All Real Estate is Local.” It means just because Aurora is sucking wind, Jefferson County is in the tank and parts of Denver are dying doesn’t mean the market is dead. If you live in Stonegate, Hidden River, Sagewood, Canterberry or most any other neighborhood in Parker you should be doing OK. I didn’t say great. We have had foreclosures but nothing like some of the other front range areas have seen. We all have seen the neighbors gathered out front looking at all the stickers in the windows of the vacant house down the street just foreclosed on. Well imagine Aurora where it happens to 6 out of the 10 homes on your street. We have seen the worst of it and it too shall pass. Parker is its own real estate market and should be reported on as such. In fact each neighborhood in Parker is different and has different market fluctuations. That is why I will break down each neighborhood and show you the numbers.
Facts: Colorado in general was booming in the late 1990′s and early 200 and 2001 when the rest of the country was in the tank. Then the day after September 11, 2001 the entire market around here (Denver Metro) changed. The rest of the country was booming when we were slowly heading down. Our market went down before the rest of the country and it should therefore recover before the rest of the country. Everyone around here knows Denver’s economy works on a different cycle than the rest of the country is been shown to me in countless economic meetings and seminars.
So go out and buy a house. Now is a great time to buy and move up into that larger or even smaller home you have been dreaming of.