Parker home inventory rises in June market statistics. Detached homes available for sale in Parker rose 13% from 280 last year to 316 this year, an increase of 36 units. Homes under contract fell 16% from 302 last year to 254 this year, a decrease of 48 units. Sales remained statistically unchanged for June 2018 vs. June 2017 with a loss of 1 unit.
Douglas County fared slightly better as a whole. The county with the most new inventory was Adams. Jefferson and Broomfield counties showed a slight decrease in inventory, but the greater Denver Metro area saw a rise in inventories for the first time in several months. Attached single family homes showed a more modest increase.
Please note that MLS inventory and sales reflect only a small portion of the builder’s inventory and sales because builders typically only “list” a few representative homes that are reported in MLS in any given year. The vast majority are not reported. Parker is a major new construction area, so many listings and sales are not reflected in the data.
Factors influencing this modest rise in home inventory include rising interest rates, trade war headlines, runaway new home construction and high home prices. In the past 7 days there as many price reductions (44) as the number of homes that went under contract (44) at 12:35pm July 6, 2018, the time this blog was written. The market is at an all-time high, yet wages do not seem to support our housing costs.
Colorado remains a destination for many folks. In 2016 we added 68,000 new people and another 60,000 in 2017. We anticipate more population growth relocating from “high tax” states because of recent changes in federal tax laws. Colorado has the youngest population in America and sports a reputation of one of the top places to relocate. Our active lifestyle is appealing. Colorado has the second most scuba divers per capita and the second most boats per capita and we have little water to support these outdoor activities.
To view the market statistics, go to Market Statistics