Denver real estate is full of emotion right now. From buyers & sellers, to lenders, real estate agents, title companies, developers and builders. All are impacted by the pace and demand of current market conditions. In an effort to cut through the noise, we’ll stay away from emotion, opinion and prediction. Just the facts to keep you informed and make …
We recently experienced a prospective buyer who was unable, or unwilling to go higher in purchase price with their offer on our seller’s home. Instead, the buyer included their coveted, Broncos season tickets as part of the proposed purchase contract. Whether you are a Broncos fan or not, this is indicative of what buyers in the greater Denver real estate …
Colorado is expected to grow in population by 40% over the next 25 years. If you are going to invest in a home, now is the time. The math doesn’t lie, at a 2.5% 30-year fixed interest rate, your principal and interest payment on a $750,000 purchase with 20% down would be $2,370/month. How will you take advantage of the market?
Record sales and skyrocketing appreciation along the front range in 2020 were driven by high demand from an increasing Colorado population, low interest rates and lifestyle changes for many. Will we get the virus under control? Will politics settle down? Will the U.S. economy continue its recovery? These are macro questions that will influence our local market and factors we continue to analyze.
With 30-year fixed interest rates at 2.5% and households demanding more from their at-home work and school environments, buyer activity continues to be unseasonably strong. In this market, sellers have tremendous negotiating power and depending on the situation, can work in extra time to find a replacement home if needed.
This time last year, Denver’s days on market listings were ½ of what they are today, prices are up, and inventory is remarkably low. Combine these factors with current interest rates, and we see the market is remaining strong.
We have been hit with “with the three largest fires in state history and all occurring in 2020.” Now is the time to come together and help our beautiful state. Below are different resources to how you can help. Boulder County 2020 Fires Relief Fund COVID-19 Response Fund Boulder County Grand County Grand County Wildfire Emergency Fund Grand County Outbreak …
UP, UP, and UP! Last week new homes for sale was 14% higher and there were 44.6% more homes under contract compared to the last 3-year average. The average weekly sales price of a single-family home is also still going up hitting $628,236 last week.
68.5% of all homes sold in the last two weeks sold at or above the FINAL asking price. A good agent will help a seller properly prepare a home for sale and price it aggressively to maximize its value.
The average sales price of a single-family home in the Denver Metro real estate market hit $624,048 last week. That is up $116,000 from just 18 weeks ago.
What should homeowners do with that equity, if anything at all? Some will say sell and capitalize, some will say pull the equity out. The answer is always the same, IT DEPENDS. PM me or comment below to discuss further!
Fall season typically marks a slowing of the real estate market. We see a slight decline in home values and reduction in market activity every year. EXCEPT THIS YEAR. While an unusually high 1,534 homes hit the market last week, 1,631 homes went under contract, further widening the supply and demand gap.