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Candice's weekly housing market update

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Contributed by: Candice Ensign Remax Southeast on 7/1/2008

Tune in each Monday for market updates for the Castle Rock area.

Median List Price THIS WEEK
$ 533,000
Average Days on Market 145
Asking Price per Square Foot $ 157
Percent of Properties with Price Decrease 47 %
Percent Relisted (reset DOM) 29 %
Percent Flip (price increased) 4 %

The median single family home
price in CASTLE ROCK this week
is $533,000.

Median Number of Bedrooms 4
Median Number of Bathrooms 4
Median House Size (sq ft) 3561
Median Lot Size .25 to .50 acre
Median Sq Ft. 3,561

With inventory trending up but days-on-market trending down and
the Market Action Index essentially flat recently, conditions don't seem
to have strong up or down pull.

Market Action Index* 14 Cold! Buyer's Market

* see below for details on the Market Action Index
PRICE

While this week the median didn't fluctuate much, we are relatively
close to the market's price highpoint.

A persistent drop of the Market Action Index into the
Buyer's zone will be a leading indicator of the price strength
subsiding.

The Market Action Index answers the question "How's the Market?" By measuring the SUPPLY AND DEMAND
current rate of sale versus the amount of the inventory.
Index above 30 implies Seller's Market conditions.
Below 30, conditions favor the
buyer.

Local conditions are currently quite strongly in the Buyer's Market zone
(below 30).

The 90-day Market Action Index stands at 14. With several months of inventory
available at the current sales rate, buyers should find ample choice.

Would you like your FREE up to the minute market update for your town, or better yet your zip code. Feel free to contact me at candice@soldbycandice.net or 303.517.5856

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CONTRIBUTOR INFORMATION

Candice Ensign Remax Southeast

Denver , CO

Candice Ensign Remax Southeast has posted 6 stories and 0 comments since joining on 6/27/2008. Candice Ensign Remax Southeast's average story rating is 4.67.

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