Metro Denver Real Estate Market Report

There are currently 51 blog entries related to this category.

April Real Estate Market Report

Spring brings about a real estate buzz like no other Colorado season. With the temps climbing and the sun shining, the Denver real estate market has warmed up as well. In fact, the warming of the market started early this year, with February indicating a busy home market to come. 2018 could be shaping up to beat records… just like the years preceding it.

Active Inventory Driving Sellers’ Market

March saw an increase in active listings of 13% over February, but a slight decrease as compared to March of 2017. The month over month listing growth is typical of march, though the decrease since last year shows that inventory is tighter than ever.

Home Prices Continue to Climb

If you’ve been keeping up on the Denver real estate market for

1,357 Views, 0 Comments.

Change the face of Denver Real Estate

Last month, the average Denver single family home price exceeded half a million dollars. This local milestone represents years worth of equity climbs, low inventory, and the changing Mile High City as a whole.

According to Susan Adams, "For the first time ever, our average home prices exceeded $500,000. This isn't especially surprising given the record home prices, low inventory, and high demand that we've seen for the last few years."

metro denver March 2018 market report metro denver luxe March 2018 market report

Since 2014, Metro Denver has seen record high home prices and record low days on market... especially in the entry-level and more affordable home sectors. This steep climb into Denver’s current [intense] seller’s market is due largely to the area’s listing shortage. There are far too few homes on the

3,173 Views, 0 Comments.

Denver’s real estate market has remained a seller’s market for the last handful of years. There are far more buyers than there are sellers, leaving the power scales tipped in favor of those listing their homes for sale.

Denver's Listing Shortage

The start of 2018 saw no change in this dynamic… active listings hit a record low in January even though new listings increased since this time in 2017. Yup, that means that there were more buyers too! Regardless of the reason, Denver’s listing shortage continues to take hold of the residential real estate market.

Of course, home values continue to inflate, reaching an average of $449,429 this month. That’s almost a 12% increase since January of last year and scarce listings are at least partially to thank/blame.

What buyers

2,624 Views, 0 Comments.

Denver Real Estate Slow Down

The Apparent Slow Down, By The Numbers

The Denver real estate market expects to see continued winter slow down in December, especially with the holidays playing into non-real estate distractions. The number of sold homes are down and days on market are up - does this mean that Denver will see a real estate slow down? This month’s numbers certainly indicate the holiday season, with a slowing in sold homes (-13%), as compared to December of last year, that exceeds the decrease in active listings (-10%). 

...But The Numbers are Skewed

However, consider single family homes as vs. attached homes. Since October, we’ve noticed new-build luxury condo numbers skewing the rest of the market data. This was just as true in December.

Condo

3,272 Views, 0 Comments.

Denver Home Prices Continue to Rise

Last month’s data was business as usual for Denver’s low inventory, rising value real estate market. In November, the average single family home sold for $479,192. And while a yearly seasonal slow down is underway, year over year data shows the market continuing to thrive. Active inventory decreased as compared to this time last year and the average home price increased year over year. With high demand and low numbers of homes on the market, residential property values continue to bolster, even in this highly valued market! The short of it is that Denver home prices continue to rise steadily.

According to Joe Chang, Denver real estate agent, "Tight supply and sustained demand should drive prices higher into next year."  

One metric of

3,480 Views, 0 Comments.

Last Month's Paradox of Real Estate Trends

The Real Estate Paradox: Days on Market are Up, While Inventory is Down

Metro Denver’s residential real estate data for November is a bit all over the place. Active inventory has decreased by 6% since last year, yet homes are spending 15% more time on the market (equalling an extra 5 days on average). In fact, according to real estate agent Shelley Conger, "inventory set a new record low" despite the sizable increase in days on market. These two numbers seem at odds with each other… there’s less inventory (tipping the market scales even farther in favor of sellers), yet homes for sale are spending significantly longer on the market than this time last year! And, to make things even more confusing October saw 10% more Denver homes under contract

3,873 Views, 0 Comments.

Are we on the edge of another Denver housing bubble?   We get asked All. The. Time. "Are we on the edge of another Denver housing bubble?" And we totally get it! Choosing to invest in a home is one of the most impactful financial choices you'll ever make.   Even though we don't claim to have any kind of crystal ball, what we do have is access to information like this...which, in short, outlines why we still think Denver area housing is a safe bet.   

Housing markets can be drastically different in various parts of the United States, which is why we think it's really important to keep a close eye on what's happening in the Denver Metro Area. The Denver Metro Association of Realtors releases it's most recent area data monthly, and the numbers continue to reassure would-be Denver area

5,683 Views, 0 Comments.

Denver Home Prices

As summer stepped out the door like a backpack clad child happily (you can read the sarcasm, right?) skipping off to school, August rode on by like the buzzing yellow school busses shipping those very happy kids off to school.

The thing is, all that bustle and fuss focused on moving back into a daily rhythm - August energy veers away from springtime house hunting and toward schedules, school days, and daily commitments.

Agents know that the real estate market steps in tune with the school calendar, so comparing this August’s trends to August of last year provides more insight than a comparison to last month.

You’ve read it in the news and heard the water cooler discussions: real estate trends aren’t what they were in May. The August

3,725 Views, 0 Comments.

"The current data is hinting that the extreme sellers’ market is showing some early signs of easing,” explains listing agent Rebekah Robinson. This month’s market report from The Denver Metro Association of Realtors reveals several clues that buying an affordable Colorado home may become much less stressful in the near future.

CLUE 1: Average days on market 27 (Went down almost 7% since last month, but has gone up almost 4% since this time last year!)

Although homes are spending less days on the market as compared to last month, we’re seeing homes wait a bit longer to sell than this time last year. This means that buyers have a bit more time to get offers in and may be facing less intense competition.

CLUE 2: Active inventory is up by close

4,494 Views, 0 Comments.

Denver Real Estate Market Report for June 2017 - As Colorado real estate takes its steady step up into summer, buyers are feeling the heat. With increases in listings lagging and ballooning numbers of buyers, Colorado home costs are on the rise and Denver homes for sale are going quickly. Sellers, take heart knowing that your home equity is in the safe hands of a booming market. But buyers, be on your toes for a lightning-paced purchasing process.

Single family homes were on the market for less days than the same time last year and the average price of a detached home was $490,700 - that’s almost a 10% increase over May of last year! Active inventory is up as well, but not quite enough to keep up with demand. Our Live Love Wag team pointed out

17,823 Views, 0 Comments.