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Candices Weekly Housing Market Update Castle Rock

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Contributed by: Candice Ensign Remax Southeast on 7/14/2008

Sunday July 13, 2008
Weekly Market Update for the Castle Rock Market

Median List Price THIS WEEK
$ 525,000
Average Days on Market 149
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 $525,000.

Market Action Index* Cold! Buyer's 14
Median Number of Bedrooms 4
Median Number of Bathrooms 4
Median House Size (sq ft) 3572
Median Lot Size .25 -.50 acres

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.

* see below for details on the Market Action Index

PRICE

The market seems to have paused around this plateau. The Market
Action Index is a good leading indicator for the durability of this
trend.

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.
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.

Index above 30 implies Seller's Market conditions. Below 30, conditions favor the
buyer.

Market in Quartiles -Investigate the market in quartiles-where each quartile is 25% of the homes.

Most expensive 25% of homes

Med Price $ 1,295,000
Med sq ft 5,656
Med lot size .50 - 1.0 acre
bed 4.0
bath 5.0
Med age 7
Inventory 281
New 11
Absorbed 4
Avg Days on market 200

Upper-middle 25% of homes

Med price $ 699,900
Med lot size .25 - .50 acre
Med sq ft 4,141
Bed 4.0
Bath 4.0
Med age 7
Inventory 281
New 11
Absorbed 9
Avg Days on market 169

Lower middle 25% of homes

Med Price $415,000
Med sq ft 3,045
Med lot size 8001 to 10,000 sq feet
Bed 4.0
Bath 3.0
Med age 7
Inventory 281
new 19
Absorbed 15
Avg Days on market 116

Least Expensive 25% of homes

Med price 262,750
Med sq ft 2,032
Med lot size 4501 to 6500 sq ft
Bed 3.0
Bath 3.0
Med age 9
Inventory 282
New 23
Absorbed 24
4,501 - 6,500
Avg Days on Market 108

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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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