Finally – Every Market Trend Is Up

Nykki Gallegos Buying, Market Trends, Selling

All year we’ve been hearing the word “up” associated with the metro Denver real estate market. Prices are up. Number of homes sales is up. The only thing consistently down has been inventory – the number of homes on the market has lagged behind last year’s levels. Now, even inventory has jumped over to the up side of the ledger. …

WHAT’S UP IN YOUR ZIP CODE?

Nykki Gallegos Market Trends

We’ve compiled the latest stats on the metro Denver real estate market with all activity through the end of August. And yes … it is pretty much the same story as we’ve had for the last 18 to 24 months. Prices are up at double-digit rates. More deals are happening. The only slight deviation is that inventory is climbing and …

An Interesting Wrinkle in Latest Sales Data

Nykki Gallegos Market Trends

Wrinkles are not good, generally. Most people don’t want them and plastic surgeons and dry cleaners make a living out of getting rid of them. Wrinkles in real estate sales trends, however, can be desirable. And there seems to be a wrinkle in the last stats on the metro Denver real estate market. Before we get to that interesting tidbit …

Metro Denver Home Sales Like Old Faithful

Nykki Gallegos Market Trends

Old Faithful in Yellowstone National Park is emblematic of something that happens predictably and reliably. That world-renowned geyser in Wyoming is a good metaphor for the metro Denver real estate market over the last couple years. The summary of market activity every month has been following a very predictable pattern: Rising prices with an increasing number of homes being sold …

No Surprise with Latest Stats on Metro Denver Home Sales

Nykki Gallegos Market Trends

Father’s Day and the first day of summer will both arrive on Sunday. Other than this mildly interesting oddity, everything going on in the Mile High city right now is the expected norm:   Schools are out.   The Rockies are struggling.   Home prices are up.   That’s right. If you are looking for something out of the ordinary, …

STATS: A ROCKY MOUNTAIN HIGH

Nykki Gallegos Market Trends

Latest Metro Denver Home Stats Are a Rocky Mountain High     Denver is known as the Mile-High City.   Colorado is famous for its Rocky Mountain High.   More recently, we’ve become known for another kind of “high” associated with legalized marijuana.   Now we can add a 4th high – record high home prices. You may have seen the article in the …

Stats: Up, Up and Away

Nykki Gallegos Market Trends

The 1967 song entitled Up, Up and Away is a good summary of the current Denver real estate market. The fact that the singing group, The 5th Dimension recorded it makes it even more appropriate. Denver real estate has definitely entered another dimension. It is in a new and uncharted realm. Prices? Yep – they’re up. Average sale price in March was $355,462 …

Stats. Like A Summer Weather Forecast

Nykki Gallegos Market Trends

You know how things are for weathermen in the Denver area during the summer months? That’s right — the forecast is pretty much the same from one day to the next: Clear in the morning with a 20% chance of thunderstorms in the afternoon. Highs in the upper 80s. Skies clearing at night. It’s a bit of a broken record. …

Affordability Data Indicates a Healthy Real Estate Market

Nykki Gallegos Market Trends

Home prices have been rising rapidly in most of the United States over the last three years. Inevitably, this gives rise to fears that we are creating a new housing bubble. Aren’t we just creating the conditions for another real estate crash? It turns out that we actually have a way to measure the health of a real estate market. …

Looking Back & Forward (Review of 2014)

Nykki Gallegos Market Trends

We’ve rolled into a new year. Let’s take a quick look at how metro Denver real estate fared in 2014 and what the landscape is looking like for 2015. Review of 2014:  The inventory of homes on the market was at historically low levels in 2014. Right? That was the big story all year. When you hear that, however, it makes …

Denver Market: Keeping Pace with 2013?

Nykki Gallegos Market Trends

There are some truths that everyone knows: (1) You don’t tug on superman’s cape. (2) You don’t spit into the wind. (3) Denver real estate prices are moving up strongly due to the low inventory of homes on the market. By now, everyone except Rip Van Winkle has heard a lot of news about Truth #3. So we won’t dwell …

Denver Market for May 2014: Up, Down, Up, Down and Good

Nykki Gallegos Market Trends

The metro Denver real estate market is a story of ups and downs. Both the ups and the downs are good, for the most part.   What’s Up? Prices are up. The average price of single-family homes closed in May 2014 was $370,918 and the 12-month average (June 2013 to May 2014) was $341,464, an increase of 10.72% and 8.63% …