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Denver Trends Jim Cimino 303.908.2276 jcimino@fnf.com www.jimcfidelity.com

2010 Year-End Analysis GREATER METROPOLITAN DENVER REAL ESTATE MARKET STATISTICS  DECEMBER, 2010 YEAR END    TRANSACTIONS  SINGLE FAMILY  49,313 Single Family properties were placed under contract in ’10 versus 56,174 properties in ’09 ‐ ↓  12%  38,818 Single Family properties closed in ’10 versus 42,070 properties in ’09 ‐ ↓ 8%  YTD closed dollar volume was $9.9 Billion in ’10, ↔ even versus year to date ‘09    RESIDENTIAL  39,200 Residential properties were placed under contract in ’10 versus 44,546 properties in ’09 ‐ ↓ 12%  30,777 Residential properties closed in ’10 versus 33,114 properties in ’09 ‐ ↓ 7%  YTD closed dollar volume was $8.6 Billion in ’10, ↔ even versus year to date ‘09    CONDO  10,113 Condo properties were placed under contract in ’10 versus 11,628 properties in ’09 ‐ ↓ 13%  8,041 Condo properties closed in ’10 versus 8,956 properties in ’09 ‐ ↓ 10%  YTD closed dollar volume was $1.3 Billion in ’10, ↓ $ 0.1 Billion versus year to date ‘09  INVENTORY  Single Family unsold homes on the market at 12/10 of 18,867 units ‐ ↑ 15% from 12/09  Residential unsold homes on the market at 12/10 of 14,450 units ‐ ↑ 18% from 12/09  Condo unsold homes on the market at 12/10 of 4,417 units ‐ ↑ 5% from 12/09     


Denver Trends AVERAGE PRICING  Single Family ↑ 6%, $257,000 versus $242,413  Residential ↑ 7%, $282,080 versus $264,803  Condo ↑1%, $161,005 versus $159,628  MEDIAN PRICING  Residential ↑7%, $235,000 versus $219,000  Condo ↑1%, $136,000 versus $135,000  GENERAL  A review of 2010 versus 2009 provides the following observations:  The inventory of unsold Single Family homes started the year at 16,456 units, peaked at 23,933 units in  July, and ended the year at 18,867 units.  Under Contract and Sold units were down 12% and 8% respectively when compared to 2009.  Largest number of Residential and Condo properties sold in price range of $100,000 to $199,999 for  2010.  Million dollar plus homes accounted for 494 Residential closings in ’10 versus 439 in ’09.  Million dollar plus homes accounted for 30 Condo closings in ’10 versus 32 in ’09.  2010 saw several extensions of the First Time Home Buyer Tax Credit which caused a flurry of Under  Contract activity in the first four months of the year followed by closings through September, 2010.  2010 saw mortgage interest rates fall to levels never seen for many years.     

Res

90

91

92

93

 94

95

96

97

98

99

00

01

02

03

04

05

06

07

08

09

Cond

10

38,818 

42,070  33,114 

30,777 

47,837 

49,789  38,845 

37,988 

50,244 

53,106  41,365 

2006

© 2011 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed © 2011 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed

39,208 

2005

8,956 

2004

8,041 

2003

Single Family

10,944 

1992

9,849 

1991

11,741 

5,155 

4,863 

1990

11,036 

47,966 

47,919  2002

© 2011 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed  0 

41,682 

36,677 

11,800 

2001

36,272 

48,611  2000

47,832 

46,742 

45,951 

1999

35,888 

37,012 

35,480 

1998

11,647 

1997

11,289 

9,204 

1996

11,944 

8,579 

1995

11,599 

8,228 

1994

11,262 

40,185 

8,369 

1993

35,159 

38,101 

36,038 

7,835 

6,262 

10,000 

10,792 

30,981 

29,522 

27,810 

38,598 

38,072  29,703 

27,215 

30,763 

33,477  20,464 

26,410 

25,619 

30,000 

7  21,547 

18,867 

16,456 

19,600 

24,603 

24,534 

23,572 

21,623 

40,000 

8,820  0 

10,352  0,352 

50,000 

20,000 

8,097 

11,093 

11,000 

54  9,854 

8,569  

31  9,631 

7,711 

11,839 

,147  10,147 

   

20,891 

16,482 

20,676 

 

60,000 

53,482 

Greater Metropolitan Denver December Year To Date Closed Transactions

Greater Metropolitan Denver Real Estate Statistics   Month End Inventory ‐ December

2007

2008

2009

2010


1994

1995

$9,976,222 

$11,954,290 

$14,516,321 

$14,223,031 

$12,168,929 

$11,713,824 

$11,152,517 

$10,198,333 

$7,775,673 

$6,180,791 

$4,910,865 

1991

4,460,310  $4,460,310 

1990

72,215  $3,572,215 

53  $2,669,553 

$4,000,000 

$2,411,638  8 

$6,000,000 

$4,779,902 

$8,000,000 

$5,515,801 

$10,000,000 

$8,769,865 

$12,000,000 

$10,558,877 

$16,000,000  $14,000,000 

$14,940,422 

Greater Metropolitan Denver December Year To Date Closed Dollar Volume ($000's)

$14,031,634 

Denver Trends

Res Cond Single Family

$2,000,000  $0  1992

1993

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Greater Metropolitan Denver December Year To Date Average Price Closed Properties ‐ 1990 to 2010 $350,000  © 2011 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed

$300,000 

$250,000 

$200,000 

$150,000 

$100,000 

$50,000 

$0  90

91

92

93

94

95

96

97

98 Res

99 Cond

00

01

02

03

04

05

Single Family

© 2011 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed

06

07

08

09

10


Denver Trends

07

$235,000 

06

00  $136,000 

$245,000 

,000  $150,000 

05

$219,000 

$249,900 

7,000  $157,000 

04

00  $135,000 

$247,000 

0,000  $160,000 

00  $141,000 

0  $126,500 

$50,000 

$107,500 

$100,000 

$219,900 

$237,000  7,000  $157,000 

03

$150,000 

00  $138,000 

$230,000  4,000  $154,000 

02

$221,000  500  $149,500 

$200,000 

$170,000 

$250,000 

$195,000 

$300,000 

$213,950 

Greater Metropolitan Denver December Year To Date Median Price ‐ Closed 

08

09

10

$‐ 99

00

01

Res

Condo

METROPOLITAN DENVER REAL ESTATE STATISTICS 2011 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed AS OF DECEMBER©31, 2010 Snapshot - YTD

YTD 2010

YTD 2009

YTD 2008

YTD 2007

YTD 2006

YTD 2005

% Change 10 vs '09

% Change 10 vs '08

% Change 10 vs '07

% Change 10 vs '06

% Change 10 vs '05

Single Family (Residential + Condo)

Active Under Contract Sold Avg DOM Avg Sold Price

18,867 16,456 19,600 24,603 24,534 23,092 49,313 56,174 62,647 61,663 61,736 65,256 38,818 42,070 47,837 49,789 50,244 53,106 92 98 102 105 102 90 $257,000 $242,413 $249,897 $281,822 $288,916 $281,332

14.65% -12.21% -7.73% -6.12% 6.02%

-3.74% -21.28% -18.85% -9.80% 2.84%

-23.31% -20.03% -22.03% -12.38% -8.81%

-23.10% -20.12% -22.74% -9.80% -11.05%

-18.30% -24.43% -26.90% 2.22% -8.65%

14,450 12,263 14,995 18,709 18,109 16,428 39,200 44,546 50,517 48,794 48,628 51,464 30,777 33,114 37,988 38,845 39,208 41,365 90 97 100 102 97 84 $235,000 $219,000 $219,900 $245,000 $249,900 $247,000 $282,080 $264,803 $270,261 $310,418 $317,112 $307,529

17.83% -12.00% -7.06% -7.22% 7.31% 6.52%

-3.63% -22.40% -18.98% -10.00% 6.87% 4.37%

-22.76% -19.66% -20.77% -11.76% -4.08% -9.13%

-20.21% -19.39% -21.50% -7.22% -5.96% -11.05%

-12.04% -23.83% -25.60% 7.14% -4.86% -8.28%

4,417 4,193 4,605 5,894 6,425 6,664 10,113 11,628 12,130 12,869 13,108 13,792 8,041 8,956 9,849 10,944 11,036 11,741 98 101 108 114 122 111 $136,000 $135,000 $138,000 $150,000 $157,000 $160,000 $161,005 $159,628 $171,350 $180,321 $188,745 $189,035

5.34% -13.03% -10.22% -2.97% 0.74% 0.86%

-4.08% -16.63% -18.36% -9.26% -1.45% -6.04%

-25.06% -21.42% -26.53% -14.04% -9.33% -10.71%

-31.25% -22.85% -27.14% -19.67% -13.38% -14.70%

-33.72% -26.67% -31.51% -11.71% -15.00% -14.83%

Residential

Active Under Contract Sold Avg DOM Median Sold Price Avg Sold Price Condo

Active Under Contract Sold Avg DOM Median Sold Price Avg Sold Price

Footnotes: Active, Under Contract, and Sold presented as # of units. Avg DOM = Average Days on Market This representation may or may not reflect all real estate activity in the market. Source: Metrolist, Inc.

© 2011 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed


GREATER METRO DENVER REAL ESTATE MARKET STATISTICS