DSF (detached single family)

• 3,300 DSF sold in June, up from 3,040 in May. About +10% volume gain, which is a “normal” seasonal increase for this time of summer.

• DSF inventories increased from 13,950 to 14,220. Modest growth… we’re still tight on inventory, so that is helping to prop up prices.

• Oddly, the number of pending and UC listings declined modestly from end of May to end of June. Showing activity per active listing (see my email from a few days ago) also eased very slightly. Normally, from a seasonality point of view, I would expect to see increases on all of these metrics. May and June were strong sales months, and July and August will likely almost match, not exceed. It’s possible June will (just barely) be the peak sales month this year.

• Median DSF price in June was $292K. This was up quite a bit from $279K in May and $272K in April. That’s a normal seasonality trend. We sell bigger houses in summer.

• Marketing times declined a little and discounting was stable – all normal indicators for what we expect from a ‘normal’ summer market.

Condos
• Inventory declined just a bit; odd, as it would normally still be building (a little) at this time of year.

• P + UC (Pending plus under contract) at end of June was basically the same as end of April and end of May. As with DSF, it’s possible that June will be the peak of 2011; July and August look like they will be strong, too… but are not likely exceed June’s volume.

• Prices were up about 2% for June vs. May.
• Discounting is stable; marketing times are up just a bit.

Prepared by:
Lon Welsh
Your Castle Real Estate

Beautiful display of lights in the Brown Palace atrium

While some of us at Royal Kingdom Associates participated in numerous meetings and education sessions, others were able to sneak in a little time enjoying the scenic beauty of Colorado Springs. The following photos were taken by Stanzi Lucy at Garden of the Gods and the Cheyenne Mountain Zoo.

Beautiful light over the Broadmoor Hotel

Grizzly Bear at Cheyenne Mtn. Zoo