Aug. 18, 2017

Denver Real Estate Market Update - July 2017



Downtown Denver.JPG

The Denver real estate market has been very strong through the Spring and early Summer.    Early May the Denver metro area saw an influx of new listings, easing some of the issues with thin inventory.    The following data is courtesy of Joan Cox - Metro Brokers - House to Home, Inc.



Denver saw the first decrease (3.9%) in new listings for the month of July over July of 2016.  This is very seasonal, as school-age children returned to school, and many families were taking their last vacations.   Mid-July through August are usually slower.   The under contract listings decreased 7% over the month of June.  Sold properties saw a 14.7% decrease from June 2017. Despite the slower activity this past month, days on market only increased by two days from June to July (18 in June to 20 in July)  (this includes land, attached properties, single family homes and up to the mega million dollar homes.)

 

See what homes are currently available - Active Homes for sale in Denver

 

New Listings - 6557  which is .-3.9% from July 2016

Under Contracts - 6434 which is -1.0% from July 2016

Sold Listings - 4884 which is -8.2% from July 2016

Days on Market - 20 days which is up 11.1% from July 2016

Average Sold Prices - $449,041 which is  +9.7% from July 2016

Percent of Sold Price to List Price - 100.3 which is down -.4% from July 2016

 

Buyers - inventory is decreasing, and not seeing the line of buyers ready to view a home, but you may need to compete with some other offers if the home is priced right, shows well and is in a highly desired area of town.  The price range between $200,000 and $450,000 has been the “sweet spot” and these homes are the ones garnering the most showings and offers.  Typically, homes come on the market late in the week, with showings over the weekend, and receiving responses early in the week.

 

Sellers - we are seeing some homes now reducing their sales price, and is best to list your home at the fair market value and not "test the market", you may lab behind other listings going under contract first.    If the home is truly HOT, you will see multiple offers and see offers over list price.   Listing too high will result in your home sitting on the market with slow showings.   If you don't have showings, you won't see an offer!   If you are thinking of selling, but worried you won’t find a replacement home,  put into MLS the fact you require a contingency of a replacement home.

 

Pricing a home is very important in this current market, and here is a chart showing how our median prices have shifted over the last few years.    

Here is a chart showing when the Sellers are getting closest to their list price.    We are in the slower part of the summer, and need to price homes correctly to get a quick offer (or more).

 

 

 

Denver’s unemployment rate did have a slight increase from 2.3% in July to 2.5% in August 2017.   Still very low comparing to the national average of 4.3% in July.   Colorado’s population is 5.457 million, with the Denver metro area seeing 3.075 million and Denver proper is 683,096.   Denver has outpaced most large cities across the Country and expect to see by 2020 a population of over 3.3 million.   We are seeing many corporations relocating their headquarters or putting in a hub into the Denver metro area, creating job growth.   Our state government is working hard on affordable housing issues with so many relocating into the Denver metro area.

 

 

Homeowners - if you have thought about selling and like like a home evaluation, please let me know, I will contact you right away.  Relocating to Denver, and need some advice - see my Relocating to Denver information.

 

 

July 30, 2017

Luxury Home Sales - Denver, CO - June 2017

 

The luxury market in the Denver metro area enjoyed another month of very strong sales where sales saw another dramatic increase over May 2017.  With home values showing heavy increases, we are seeing more and more homes in the metro area attaining the million dollar mark.

 

It is that time of year where we enjoy spending quality time outdoors after a long day at work.    Watching the sunsets is always a treat with a fire once the sun sets and starts getting cooler.      With a few clouds, the sunsets can sure be stunning in Denver!  

 

 

Days on market decreased from 29 days in May to 22 days in June.   The average sales price increased slightly from $1,275,000 to $1,292,500 in June.

 

There are 873 current active luxury listings in the Denver metro area with an average of 87 days on market.  These homes listed were built from 1886 to 2018 (brand new construction).   There are no short sales and one bank owned property in Littleton listed for $1,625,000.   There are 183 properties listed at $1 million and above under contract as of today.

 

Remember the Sleeper Home?     This one is very unique in Evergreen also!    Imagine having round walls!

 

           **photo courtesy of REColorado

 

Looking at the sales in June 2017, there were no short sales nor bank owned property sold, and 16 were new builds sold.

 

Here are the sales by City within the Denver metro area - (Boulder is not included)

 

 

One home remained on the market for 628 days (1.72 year), but only seven homes sold in June remained on the market longer than one year.    On the flip side, 39 homes sold in less than one week.    This is a quick turn around for a million dollar home!

 

The highest sale in the Denver metro area was $5,000,000 and was located in Cheesman Park very close to downtown Denver.    This home was built in 1923 and maintained its charm and character.    It has 8.680 total square feet, 4 bedrooms, 6 bathrooms and a 2 car garage all on a half acre, which sold in 47 days.

 

Here is the data for luxury home sales for the second half of 2016 to show the comparable activity month by month at a glance.  As expected, the summer is the time most homes (including luxury homes) are sold.  Sales in the month of June 2016 showed the most sales of 189 (but that was including Boulder).

 

 

If you are looking to buy or sell a luxury home in the Denver metro area, please give me a call, or if you would like any information on attached luxury homes (which are not included in this report).

 

 

July 27, 2017

Piney Creek Village Market Update - Centennial CO June 2017


 

Piney Creek Village is located in Centennial, CO  80016.    You will find this neighborhood South of Orchard between Parker Road and Buckley Road.    Homes were built by Golden Design Group and Richmond Homes from 2003 to 2017.    You will find larger executive homes on larger lots ranging from 2,695 to 5,008 above ground square footage with 3 and 4 car garages.   There are currently just under 700 homes in this neighborhood.

 

The location of this neighborhood is excellent, with easy access to Cherry Creek Reservoir with lots ofoutdoor activities like biking, hiking, fishing, horseback riding, camping, boating, swimming and enjoy a beach.   Easy access to 9 Mile light rail, I-225, shopping and many dining options within a few minutes.   School age children will attend Cherry Creek Schools.   Residents of this community love having The Trails Recreation Center so close offering lots of activities for the entire family.

 

 

 

Here is what is happening for June 2017 -

SOLDS - 3 homes ranging from $601,000 to $737,000

Days on Market - 33 days

Average Sold Price - $634,500

List Price to Sales Price - 98.28%

 

There are currently 12 active listings ranging from $675,000 to $885,000

Days on market were 51

Here are the current active homes for sale in Piney Creek Village

 

Here is what happened for all of 2016 -

SOLDS - 12 homes ranging from $381,000 to $869,000

Days on Market - 28 days

Average Sold Price - $654,000

List Price to Sales Price - 99.22%

 

Here is a great home for sale in Piney Creek Village - 

16214 E. Lake Drive, Centennial, CO  80016   Priced at $725,000

 

If you would like more information on Piney Creek Village - please give me a call.  Joan Cox - Metro Brokers - House to Home, Inc.   720-231-6373

 

June 22, 2017

Open House - The Farm - Aurora, CO 80016 Saturday 6/24/17 noon to 3 pm

 


This stunning listing in The Farm has generous square footage for Buyers looking for space!  Join us this Saturday 6/24/17 for the Open House Noon to 3 pm.

 

 

 

 

16802 E. Caley Place

Aurora, CO  80016

Priced at $595,000

 

 

5 bedrooms, 5 bathrooms (5 piece, F, F, T, H)

3,745 above ground square feet plus 1,427 in the unfinished basement

Home built in 2004

Lot size - 10,454 sq ft. and located in a cul-de-sac

 

This home is loaded with upgrades throughout, especially the gourmet kitchen.    

~ Extended new granite for a breakfast bar to seat 6

~ Over-sized refrigerator, double ovens, cook-top, dishwasher, microwave and wine refrigerator

~ Walk in Pantry

~ Eating space

 

Great home for entertaining with the open floor plan and large family room.   The fireplaces in the living and family room can take the chill off in the winter months.   The central vac system sure helps with cleaning!  

 

The Master Bedroom is very spacious with a fireplace, five piece master bath with upgraded tile and travertine floors, and a huge walk-in closet.    Enjoy the trex deck off the master bedroom to relax at the end of the day, and watch the sunsets over the mountains!

 

All five bedrooms are located on the 2nd floor, with one bedroom have its own en-suite bath.   All secondary rooms are larger than normal.

 

The 3rd floor has options for office, mother in-law suite, playroom or put in a closet and have a 6th bedroom.   There is a full bath on this floor also.

 

 

  

Being at the back of the quiet cul-de-sac, this yard is a great size with loads of room for outdoor entertaining.   There is an extended patio and fire pit area plus the play set area.    

 

The Farm has many pocket parks, with two within easy walking distance from this home.    The school age children will attend the highly acclaimed Cherry Creek Schools - Fox Hollow Elementary, Liberty Middle School and Grandview High School.

 

The location is convenient to Denver International Airport, many retail options and restaurants. 

 

Don't miss out on this new listing with excellent price for this much square footage.   Call me for your showing - Joan Cox - 720-231-6373.

 

 

 

Posted in Open Houses
June 16, 2017

New Listing - The Meadows - Castle Rock, CO 80109

 


 

This beautiful Joyce Home will hit the market Saturday morning and with its wonderful location, great floor plan and price, it should not last long!  

4280 Trailside Court

Castle Rock, CO  80109

Priced at $515,000

 

 

 

This home is located in a cul-de-sac, backs AND sides to open space.    You can walk to Butterfield Park and all schools.   Location, Location, Location!

 

~ 3 bedrooms plus study/den and loft

~ 3 bathrooms (F, F, H)

~ Split 3 car garage

~ 3.010 finished square feet above ground plus 1,190 in the unfinished basement

~ Kitchen has upgraded cherry cabinetry and lots of it!  Granite tile counters and all kitchen appliances will remain.

~ Huge master bedroom with five piece master bath with dual walk-in closets

~ Secondary rooms have their own "wing" and also flex space for family or guests plus jack and jill bath.

~ Extended slate patio is wonderful for outdoor entertaining

~ Dog run

~ 50 gallon water heater, dual furnaces and A/C units

~ Home built in 2002

~ Lot size is 7,828

 

 

   

Within minutes to the Outlet Mall, the hospital and many dining options.    Easy access to I-25 with the new exit.   The Meadows has two community pools - Taft House and the Grange, along with tennis courts.     School age children will attend Douglas County Schools.

 

 

Google has this home located on Trailside Loop, and the real address is Trailside Court.

 

If you would like to view this home, give me a call - Joan Cox   720-231-6373.

 

Posted in New Listings
June 15, 2017

Denver Real Estate Market Update - May 2017

 


 

The Denver real estate market has been going gangbusters with the Spring buying season in full swing!   Inventory has increased in the last few of weeks, and surpassing last years active listings a year ago.   The following data is courtesy of   Joan Cox - Metro Brokers - House to Home, Inc.

 

 

Denver saw an 8.3% increase in listings over May 2017, an increase of 3.7% in under contract properties and an increase of sold properties of 1.0%.    Seeing an increase of new listings is easing the "thin inventory" we have seen for months.  Average days on market decreased from 22 to 20 days.  (this includes land, attached properties, single family homes up to the mega million dollar homes.)

 

See what is currently available - Active Listings in Denver

        

 

Buyers - inventory has increased, so you may not see 10+ offers on homes, but you may need to compete with some other offers if the home is priced right, shows well and is in a highly desired area of town.   The price range between $200,000 and $450,000 has been the "sweet spot" and these homes are the ones garnering the most showings and offers.   Typically, homes come on the market late in the week, with showings over the weekend, and responding to offers on Monday.

 

Sellers - we are seeing some homes now reducing their sales price, as the inventory has increased, and is best to list your home at the fair market value, not thousands over this in hopes of reaping the benefits of a Seller's market.    You may still get over fair market value, but you do want Buyers to view your home, so pricing is key right now.   If you are thinking of selling, but worried you won't find a replacement home, I put into MLS the fact you require a contingency of a replacement home.

 

Pricing a home is very important in this current market, and here is a chart showing how our median prices have shifted over the last few years.

 

 

 

  

Denver's unemployment rate is very low at - 2.1% (June 2017) compared to the national average of 4.3 (May 2017), so Colorado's economy is very strong.    Colorado's population is 5.457 million, with the Denver metro area seeing 3.075 million and Denver proper is 683,096.   Denver has outpaced most large cities across the Country and expect to see by 2020 a population of over 3.3 million.   We are seeing many corporations relocating their headquarters or putting in a hub into the Denver metro area, creating job growth.  Amazon has two distribution centers being built in Denver.

 

Homeowners - if you have thought about selling and would like a home evaluation, please let me know, I will contact you right away.    Relocating to Denver, and need some advice - see my Relocating to Denver information.

 

June 7, 2017

Open House - Clarke Farms - Parker CO - Saturday June 10th, 2017

  

 

This cute listing will have an open house this Saturday (June 10, 2017)  from noon to 3 pm.   Clarke Farms is highly desirable neighborhood and this home won't last long!  

 

10505 Holyoke Drive

Parker, CO  80134

Priced at $384,900

You cannot find another 3 car garage under $415K in Parker!

 

 

 

Clarke Farms is located East of Jordan Road and North of Main Street in Parker, CO 80134.    

Home features - 

 ~ 3 bedrooms plus study/den 

 ~ 3 bathrooms (2 full and 1 three quarters)

 ~ 3 car attached garage

 ~ Two Story with 1,961 finished square feet plus 527 in the unfinished basement

 ~ Built 1993

 

This very well maintained home has a two story vaulted living and dining room, giving it a very spacious feel upon entry.

 

For the chef of the family - remodeled kitchen with upgraded cabinetry, granite counter tops, stainless steel appliances and stone floors.    There is an eating space also.

 

Enjoy the spacious family room with the fireplace for those sometimes chilly evenings in Colorado.

 

The office/den could be the 4th bedroom (but no closet) as there is a three quarters bath on the main floor.  The laundry room is on the main floor also.

 

All three bedrooms are located on the upper floor, with the huge Master Bedroom  (12x16) with a five piece master bathroom plus a walk-in closet.

 

The basement is unfinished, with lots of possibilities for expansion, and has a crawlspace.   50 gallon water heater, central air conditioning and has sprinklers.

 

Enjoy entertaining in the back yard on the stamped concrete patio, and there is a play area for the kiddos.

 

This home is within short walking distance to Cherokee Trail Elementary, Clarke Farms clubhouse, pool and tennis courts, and don't miss the pocket parks!    This community is in Douglas County Schools.

 

 

 

 Call me today if you would like to see this home - Joan Cox - 720-231-6373.

 

 

Posted in Open Houses
May 25, 2017

New Listing - Saddle Rock Ridge - Aurora, CO 80015

 


This gorgeous property hit the market this morning, and will be a HOT property.   In this neighborhood, there are now only four active listings, which is amazing with 2,000 homes in the entire community.

 

22904 E. Ida Avenue

Aurora, CO  80016

Saddle Rock Ridge

Priced at $414,900 

 

 

 ~ 3 bedrooms plus office/den and a loft

 ~ 3 bathrooms

 ~ 3 car attached garage

 ~ Home built in 2000

 ~ Home backs to greenbelt

 ~ 2,412 finished SF plus 778 in unfinished basement

 

These Sellers have done a lot of updating, and the new Buyer will benefit.   The kitchen features granite counter tops, new stainless steel appliances and sink, new lighting and faucet.   There is a pantry and an island.

 

There is a formal living & dining room for added space for entertaining, plus a two story family room with surround sound speakers and a gas fireplace.

 

All three bedrooms are on the upper floor plus the loft.    The Master Bedroom is huge plus has a sitting/make-up area plus a walk-in closet.   Buyers will fall in love with the bathroom.   They just remodeled it with a brand new shower, heated tile floors, new faucets and shows beautifully!

 

The home has a humifier, 220 in the garage and a garage heater, perfect for those car people!    There is a Nest thermostat, a security system.

 

Beautiful home, and definitely shows pride of ownership.   Don't wait, this home won't last long!  

 

 

Posted in New Listings
May 23, 2017

Beacon Point Market Update - Aurora CO 80016 - April 2017

 


Beacon Point - Aurora, CO  80016

 

You will find Beacon Point East of E-470 and North of Smoky Hill in Southeast Aurora, Arapahoe County.   Beacon Point has been a highly sought after neighborhood due to the executive homes and the location close to Aurora Reservoir and all within Cherry Creek School District.   Beacon Point is located in zip code 80016.   As of August 2016, there are 771 completed homes, with 875 expected once all construction is complete.

 

 

Homes in Beacon Point range from 1,874 square feet to 6,718 finished square feet and range in price from $410,000 to $970,000.    Homes were built from 2005 to some new builds in 2016.   You will find a few homes with a 2 car garage, most have 3 car garages and a few rare 4 car garages.  

 

  

 

You will find homes built by Century, Engle and Lennar and Century Communities.  

 

 

Here is what SOLD in April 2017

 

  •  8 properties sold ranging from $422,950 to $649,900  (April 2016 had 4 sales)
  • Average days on market - 10 days (last year had 15 days) 
  • Average Sold Price - $514,950   (last year had $479,150)
  • Sellers saw 100% to list price (last year saw 100.36%)

I am seeing the current market a bit slower for resales in Beacon Point right now, due to the numbers of new homes being built in the area.

 

Here is what SOLD in all of 2016

  • 66 properties sold   (2015 saw 70 properties sold)
  • Average days on market - 28 days (2015 saw 55 days)
  • Average Sold Price - $491,500 (2015 saw $494,850) 
  • Sellers saw 99.28% to list price (2015 saw 98.68%)

 

 Aurora ReservoirBeacon Point Clubhouse

 

 

 

 

 

 

 

 

 

Currently there are 18 active listings ranging from $459,950 to $850,000 showing 19 days on market.   

 

Beacon Point homes for sale in Aurora CO

 

There are 15 under contract ranging in price from $423,480 to $689,900.      

 


Beacon Point home for sale

 

 

 

 

 

 

 

 

 ** Photos courtesy of REColorado

 

This community is located with Cherry Creek Schools - Buffalo Trail and Pine Ridge Elementary, Fox Ridge Middle School and Cherokee Trail High School.   

Only minutes to Aurora Reservoir and Southlands Mall.    This is a popular community for those working at DIA, as it is an easy commute with E-470.   

 

The HOA is strong in Beacon Point, and currently the HOA fee is $140 per quarter.   These fees include the use of the clubhouse with fitness center, a community pool, common grounds maintenance and trash with recycling.     For more info from the HOA - here is the link to the Beacon Point HOA web site. 

 

Residents love Beacon Point for the outdoor activities available.  There are 8 miles of trails around the Aurora Reservoir for biking, hiking and walking the pup.    You also will find non-motorized boating, archery, SCUBA diving, picnics, and wildlife viewing.   There are over 800 acres of water surface and is Aurora's largest park and open space.    The Aurora Reservoir earned the title by Westword of "Best Park for Fishing" in 2012.    The seasonal swim beach will open 5/23 for sunbathing and swimming, boats are available for rental and check out the special fishing tournaments held at Aurora Reservoir.

 

Aurora Reservoir

 

Shopping and dining options are within minutes at Southlands Shopping Center located at Aurora Parkway and Smoky Hill Road.     You will find an array of retail outlets and restaurant options, 16 screen movie theater, and a Farmers Market that is open every Saturday through the summer from 8 am to 1 pm.    The Farmers Market weekly has 40 local vendors providing organic and pesticide-free produce, dairy products, baked goods, homemade salsa and more!

 

Southlands Shopping Center

 

The Denver metro area market is a strong Seller's market, and a need for more listings.    I assist buyers and sellers in and around the Denver metro area with their real estate needs and guide them smoothly through this process.    Please visit my web site to view properties available in the Denver metro area, or how I can be effective in selling your home.

 

 

Map of Beacon Point

    

 

We are in a strong Seller's market, and if you are contemplating a sale, give me a call, and let me tell you how I can get top dollar for your home!  

 

 

If you would like to see any of the current listings in Beacon Point, give me a call.        Joan Cox - 720-231-6373

 

May 18, 2017

Home for Sale - The Farm - Aurora CO 80016

 

 

Stunning new listing in The Farm with generous square footage for Buyers looking for space!      

 

 

 

 

16802 E. Caley Place

Aurora, CO  80016

Priced at $595,000

 

 

5 bedrooms, 5 bathrooms (5 piece, F, F, T, H)

3,745 above ground square feet plus 1,427 in the unfinished basement

Three story home with bonus room (and full bath) on 3rd floor

Home built in 2004

Lot size - 10,454 sq ft.

 

This home is loaded with upgraded throughout, especially the gourmet kitchen.    

~ Extended new granite for a breakfast bar to seat 6

~ Over-sized refrigerator, double ovens, cook-top, dishwasher, microwave and wine refrigerator

~ Walk in Pantry

~ Eating space

 

Great home for entertaining with the open floor plan and large family room.   The fireplaces in the living and family room can take the chill off in the winter months.   The central vac system sure helps with cleaning!  

 

The Master Bedroom is very spacious with a fireplace, five piece master bath with upgraded tile and travertine floors, and a huge walk-in closet.    Enjoy the trex deck off the master bedroom to relax at the end of the day, and watch the sunsets over the mountains!

 

All five bedrooms are located on the 2nd floor, with one bedroom have its own en-suite bath.   All secondary rooms are larger than normal.

 

The 3rd floor has options for office, mother in-law suite, playroom or put in a closet and have a 6th bedroom.   There is a full bath on this floor also.

 

 

Being at the back of the quiet cul-de-sac, this yard is a great size with loads of room for outdoor entertaining.   There is an extended patio and fire pit area plus the play set area.    

 

 

 

The Farm has many pocket parks, with two within easy walking distance from this home.    The school age children will attend the highly acclaimed Cherry Creek Schools - Fox Hollow Elementary, Liberty Middle School and Grandview High School.

 

The location is convenient to Denver International Airport, many retail options and restaurants. 

 

Don't miss out on this new listing with excellent price for this much square footage.   Call me for your showing - Joan Cox - 720-231-6373.

 

 

 

Posted in New Listings