Over the last 14 weeks, buyer activity has settled into the “just above normal” range for the Denver market. With low inventory, this still means a large buyer pool is competing for fewer homes leading us into a fall and winter market that is most likely shaping up to remain busy and relatively fast for buyers and sellers.
The first 6 months of Denver real estate was nothing short of chaotic. The year over year average home sold price was up by as much as $150,000 and the number of people looking for homes blasted through previous records. Weekly home showings topped over 40,000 showings in a week, on a record low inventory of just 2,200 homes available …
Knowledge is power when it comes to making a decision in ANY real estate market. Did you know the average sold price of a detached single-family residence hit an all-time high of over $730K last week? One year ago, the average weekly sold price
was just north of $541K.
Whether you’re considering remodeling, refinancing, or you’re interested in capitalizing on interest rates and moving in this market, send me a DM and let’s explore what it would take for you!
#realestate #realestatemarket #coloradorealestate
With the housing market moving as fast as it is and prices increasing over 25% in the last year, it’s understandable that you’d be hesitate to make any major decisions when it comes to real estate. However, there are many things to consider outside of home prices and inventory. Click to read how I’d advise my clients if asked if now is the “right time” to buy and/or sell. #realestate #coloradorealestate #realestatemarket
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.
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.