Nov. 13, 2019

Denver's Luxury Home Market - Market Update October 2019

 

A Luxury Home can be identified differently in cities across the Country, but in Denver, my Luxury blog posts will report on detached single family homes listed in the Denver metro area over $1 million.   Some have mountain (snow-capped now) and/or city views, some back to a golf course or have water views.  (however, we don't have much water)  Some are updated with products from around the world, and some have expansive square footage or on acreage.     Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.   

 

We have felt a crispness in the air here and have already seen a foot of snow (which is early this year), as Fall/Winter has arrived.  Ready for Bronco games (they need some prayers) and fall gatherings?   Need a game room/media room or a fabulous outdoor entertainment area?

 

 

Here is how the luxury market fared for the month of October 2019 -

Total sales - 143 homes ranging from $1,000,000 to $9,000,000 (last month was 133 homes, so this sector of our market saw an increase)

Average Days on Market - 69 days (last month was 89 days)

Average price per SF (Total) - $259.10 (last month was $271.36)

These homes were built from 1900 to 2019

 

The highest priced home sold was $9,000,000 in the Denver Metro and is in Cherry Hills Village.   This stunning home was built in 2017, on 1.06 acres with a 4-car garage.   This home has 11,127 total finished square feet.

 

There was one short sale sold, but no bank foreclosures sold this month.

 

The first few months were slow around the Denver metro area, but both the luxury market and the resale/new construction market saw a bump in activity in the spring months, and as we look at Fall, we saw an uptick in sales over last year in September (only had 131 sales vs 143 this year).    A slight increase is always good to see.

  

Looking for a home on acreage and private?    With mountain views?    Or would like to see what homes are for sale over $1,000,000?   There are currently three bank-owned properties for sale, one in  Cherry Creek Country Club listed for $1,812,500 and one in Chenango listed for $1,199,000 and one in Spring Creek ranches in Parker listed for $,099,000.   There is one short sale listed in Sedalia for $1,550,000 on acreage.

Short Sale homes for sale

Contact me for bank-owned properties for sale

 


 

 

Today, you will find 727 homes for sale in the Denver metro area listed over $1,000,000 up to $19,750,000.   They have been on the market for an average of 153 days and these homes were built from 1886 to 2020.   There is one short sale currently for sale in Sedalia for $1,550,000.  

 

There are 200 homes currently under contract over $1,000,000 up to $11,900,000 with an average 97 days on market.    These homes were built from 1886 to 2019.

 

With the equity increases we have seen over the last seven years, it is not unusual to see homes priced over $1,000,000 now all over the City.  In October 2015 there were only 30 homes that sold in Denver proper, this month there were 48 homes sold.

 

If you have seen a home in this post this intrigues you, give me a call - 720-231-6373.    You could be HOME FOR THE HOLIDAYS.

 

 

Nov. 4, 2019

Town of Parker CO - Market Update for September 2019

 

You will find this quaint town Southeast of Denver proper, and about 20 miles or 30 minutes.  It is easy to catch the light rail at Lincoln, if you work downtown, or somewhere along the line.    There are about 64,000 residents in the Town of Parker, and Main street is a fun place to dine or enjoy the retail outlets.

 

 

If you are looking to buy a home in Parker, there is quite a variety of price points.   You can buy a condo or a multi-acre ranch outside the city limits, yet just a few minutes into town.    Here is what happened in the market this past month.

 

Sales for September 2019

201 homes sold ranging from $292,000 to $2,500,000 (down from 232 sold last month)

Average days on market - 42 days (up from 39 last month

Average sales price was $509,900

Sellers saw 99.32% to list price

These homes were built from 1971 to new builders (2019)

 

The highest sale was in rural Parker, and sold for $2,600,000.  This home is on 35  acres, built in 1984, has 4 bedrooms, 4 bathrooms, and a 3 car garage plus arena and outbuildings.    The home has 7,628 total square feet and was on the market for a total of 517 days.

 

 

How are we doing this year?   Inventory gradually increased in Parker through the spring and summer, but now decreasing as we head into the winter months.   We are above last year's sales of 163, so the market has remained solid, even though the Denver metro has seen a slight shift. 

 

There are currently 288 active properties on the market ranging from $370,000 to $12,900,000

Days on Market - 82 days

These homes were built from 1969 to 2020

 

Parker Homes for sale

 

There are currently 213 properties under contract ranging from $319,000 to $1,749,000

Days on Market - 54 days

 

 

There is a property is many price points, so whether you need a townhome/condo 

There are currently 76 available ranging from $145,000 to $468,900.

 

Are you looking for a home on acreage?  The best price I found today was a home in Parker Hylands on 5 acres listed for only $488,000!

 

 

 

Want to know what a home looks like for $12,900,000?    This home was built in 2001, has 11 bedrooms, 24 bathrooms and a TWENTY-NINE car garage!   There are 45,212 total square feet including out-buildings on 35 acres. 

 

 

 

If you would like to know more about the Town of Parker, please give me a call.  720-231-6373 

 

Oct. 31, 2019

Denver Market Update - September 2019

 

The Denver real estate market saw a decrease in inventory this month, and the days on market increased slightly.  The sales were up 9.5% over last year's sales, yet down over last month's sales.   The total inventory has decreased, which is normal this time of year. The days on market increased from last month (by 2 days).  The number of homes that are under contract have also decreased from last month.   Usually after Labor Day we see an increase in activity, but this year it was ever so slight compared to years past.

 

The following data is courtesy of Joan Cox - House to Home, Inc.

 

Denver saw an increase in active listings, and we have 10% more new listings than we did this time in 2018.   The under contract listings saw an increase (14.4%) over the same month 2018, yet a decrease from August 2019.  Sold properties saw an increase from last year.   With 33 days on market, this still indicates we are experiencing a Seller's market, just is a bit slower paced versus past years. (September 2018 we saw only 26 days on market)   Sellers should remember to list a home properly, as those over priced homes will sit on the market.  (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

 

Stats for the Month of September 2019

New Listings - 6,037 - up from 6,733 last month  (in 2018 it was 5,954) 

Under Contracts - 5,928 - down from 6,557 last month (in 2018 it was 5,181)

Sold Listings - 4,829 - down from 5,540 last month (in 2018 it was 4,410)

Days on Market - 33 days - up from 31 days last month (in 2018 it was 27 days)

Average Sold Price - $482,109 - down from $487,205 last month (in 2018 it was $455,790)

Percent of Sold Price to List Price - 98.9%, down from 99.1%  last month

 

Buyers - We are not seeing as many homes come on the market now, especially since Winter has arrived early this year!  Even still Buyers have the chance to view more listings that match their criteria and not have pressure to write the instant they see a home before making a final decision.   There are times you even can think about a purchase overnight, and not "lose the bid".  With the Interest rate reduction, buyers are thinking this is a good time to buy a home, and seeing increased activity.

 

Sellers - Pricing your home is very important, and not start too high, or you will be sitting on the listing for a while, as you now have competition.  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, I can enter into MLS the fact you require a contingency of a replacement home.

 

 

Denver’s unemployment rate is currently at 2.2% for September. Nice to see this rate so low compared to the national average of 3.5% in September.   Colorado’s population is 5.557 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.   Lockhead Martin announced they are hiring many more employees.   See who else is adding employees.    Our state government is working hard on affordable housing issues for both the elderly and first time home buyers, with so many relocating into the Denver metro area.  I recently got a first time buyer into an affordable housing development at a lower price than found elsewhere in the City.  The builder was offering first-responders a fabulous deal!

 

 

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.

 

 

Oct. 18, 2019

Luxury Home Sales in Denver - Market Update September 2019

 

A Luxury Home can be identified differently in cities across the Country, but in Denver, my Luxury blog posts will report on detached single family homes listed in the Denver metro area over $1 million.   Some have mountain (snow-capped now) and/or city views, some back to a golf course or have water views.  (however, we don't have much water)  Some are updated with products from around the world, and some have expansive square footage or on acreage.     Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.   

 

We have felt a crispness in the air here and there already (which is early this year), as Fall has arrived.  Ready for Bronco games (they need some prayers) and fall gatherings?   Need a game room/media room or a fabulous outdoor entertainment area?

 

 

Here is how the luxury market fared for the month of September 2019 -

Total sales - 133 homes ranging from $1,000,000 to $5,650,000 (last month was 164 homes, so this sector of our market is slowing down a bit)

Average Days on Market - 89 days (last month was 66 days)

Average price per SF (Total) - $271.36 (last month was $250.03)

These homes were built from 1892 to 2019

The highest priced home sold was $5,650,000 in the Denver Metro and was in The Denver Country Club.   This stunning home was built in 1909, on .25 acres with 5 bedrooms, 7 bathrooms and a 4-car garage.   This home has 8,387 total finished square feet.

There were no short sales nor bank foreclosures sold this month.

 

The first few months were slow around the Denver metro area, but both the luxury market and the resale/new construction market saw a bump in activity in the spring months, and as we look at Fall, we saw an uptick in sales over year in September (only had 95 sales vs 133 this year).

  

Looking for a home on acreage and private?    With mountain views?    Or would like to see what homes are for sale over $1,000,000?   There are currently two bank-owned properties for sale, one in  Castle Pines listed for $1,071,000 and one in Denver (Cherry Creek Country Club) listed for $1,875,000.   There is one short sale listed for $1,530,000 in the heart of Greenwood Village.

Short Sale homes for sale

Contact me for bank-owned properties for sale

 


 

 

Today, you will find 799 homes for sale in the Denver metro area listed over $1,000,000 up to $19,750,000.   They have been on the market for an average of 143 days and these homes were built from 1886 to 2020.   There is one short sale currently for sale in Greenwood Village for $1,530,000.  

 

There are 224 homes currently under contract over $1,000,000 up to $11,900,000 with an average 96 days on market.    These homes were built from 1886 to 2019.

 

With the equity increases we have seen over the last seven years, it is not unusual to see homes priced over $1,000,000 now all over the City.  In September 2015 there were only 32 homes that sold in Denver proper, this month there were 49 homes sold.

 

If you have seen a home in this post this intrigues you, give me a call - 720-231-6373.    You could be HOME FOR THE HOLIDAYS.

 

 

Oct. 16, 2019

Castle Rock CO Market Trends - September 2019

 

 

The Town of Castle Rock is located about 30 minutes (29 miles) south of Denver and enjoys a population of 56,962, which has inched up about 1,000 per year.  The elevation of Castle Rock is 6,202 feet above sea level.   The median age is 35.6, and the median household income is $96,265.  Castle Rock includes Castle Pines and many rural farm areas outside the City limits.

 

The Castle Rock real estate market for the month of September saw a slight increase in sales over the previous month.   The under contracts have increased and inventory has decreased over the previous month and will see it continue to decrease going into the winter months.   These stats include Castle Pines and Castle Pines Village, single-family detached homes and multi-family homes, courtesy of Joan Cox, House to Home, Inc.

 

Sales - 261 properties sold ranging from $236,900 to $1,560,434

Average Days on Market - 52 days 

Average Price $455,500

List Price/Sold Price - 99.23%

 

The highest-priced property sold in September was $1,560,434 and was located in Castle Pines Village  It is a brand new custom home built in 2019 by Infinity Homes.   It has 4 bedrooms, 4 bathrooms, with a total of 5,432 square feet and a 2-car garage on .18 acres.     

 

If you are looking for the current active listings in Castle Rock, including Castle Pines - here are the active listings in Castle Rock.

 

 

If you are currently looking in Castle Rock for your dream home, give me a call.   Use the link above to see what homes are currently available. 

  

 

Oct. 16, 2019

Even a New Roof can have Defective Shingles

 


 

Do you have a newer roof?    Do you know if you have defective shingles?

 

I have had two homeowners had their roofs checked and found to have Tamko shingles and they were defective.  No way to certify the roof if the buyer asked.   In fact, a couple of inspectors have actually put on their report they were Tamko defective shingles.   These are composite asphalt shingles, so if you have a concrete tile roof or a metal roof, you will not be impacted.

 

One of my homeowners had bought the home two years earlier, so the roof was still under warranty and my roof inspector was instrumental in helping him get the shingles replaced.   It did not cover all expenses, but the majority of it.

 

If you have thought about selling, it is wise to have the roof checked prior to the inspection, and KNOW what/if any repairs are needed.    It could save you thousands!  

 

 

Oct. 5, 2019

Ready to Get out of the City and find a Home for Sale on Acreage close to Denver?

 

Is traffic driving you crazy in town?   Have you thought about stepping away a bit, and contemplating a move to the Country?    Where all you can hear is the wildlife, and an occasional car?     Homes for sale on acreage within a short drive into the City are quite popular right now!   Are you looking for mountains views, city views, water views?

 

 

You don't have to move HOURS away from the City to get out of the Hustle & Bustle Denver has!    There are parcels of land one acre or more within 30 minutes of the City.   You can expect to pay $500K+ for a home on one acre or more depending on how far out you want to live.    I found a few for less than $500K today, but they are more than an hour, with the exception of a home in Elizabeth which was $350,000.    If you look deep into the mountains on dirt roads, you can find some deals, but winters could be an issue driving into town.

 

There are some custom homes on acreage, some acreage sold by itself, and some with tiny houses on them.    Here are some searches by counties if you are looking for a home on acreage within close proximity of Denver -

75 properties available in Adams County

 

107 properties available in Arapahoe County

 

Only ONE property in Denver County

 

213 properties available in Douglas County

 

110 properties available in Elbert County

222 properties available in Jefferson County

89 properties available in Weld County

 

Would you like to know more about rural properties?   About wells and septic systems?   I have sold many with these systems, and can guide you through a transaction with a home on acreage.

 

Give me a call - 720-231-6373 and you could be in your dream home by Thanksgiving!

 

 

 

Oct. 5, 2019

Time for Fall Home Maintenance Before Winter is Here

 

Colorado is expecting its first taste of winter weather this coming week with a possibility of a few snowflakes in the City.  Time for everyone to unhook their hoses if the temps near freezing.   Anytime we see overnight temperatures below freezing, this could damage the spigots.

 


Here are a few items you should winterize before winter has set in --

 

  • Fertilize lawn for its last feeding
  • Check for drafts - use a candle around doors and windows
  • Blow out sprinklers
  • Check fire extinguisher
  • Check all windows for broken seals and be sure they shut & lock
  • Give the deck one last coat of sealer
  • Inspect your roof for shingle damage, or call a roofer
  • Clean rain gutters and downspouts
  • Check around the foundation for any pipes/ducts coming from the house to see if there is additional caulking needed and/or weatherstripping
  • Replace your furnace's air filter and have it serviced
  • Reverse the direction of ceiling fans
  • Service and tune-up snowblower
  • Drain gas from lawnmowers
  • Drain all garden hoses and unhook for the outdoor faucet
  • Insulate any exposed pipes
  • Drain swamp cooler
  • Cover Air Conditioner condenser

This should help from having problems in and around your home this winter.

 

 

Posted in Seller Tips
Sept. 25, 2019

New Listing - 10728 Kimball St., Parker, CO 80134 - Clarke Farms

 

This gorgeous home offers an abundance of square footage and located in the highly popular neighborhood of Clarke Farms in Parker.

 

 

10728 Kimball Street

Parker, CO  80134

Priced at $430,000

 

This home feels very spacious upon entry with the vaulted ceilings and abundance of natural light.   There is new  hardwood flooring in the living/dining room and into the family room.

 

 

The kitchen features lots of updates - new quartz counters, sink & faucet, lighting, backsplash and all stainless steel appliances - refrigerator, gas stove, dishwasher & microwave.

 

 

There is an open floor plan, which is great for entertaining family and friends.    The family room has a new gas fireplace and a new slider door.

 

 

There is a half bath that has been remodeled on this floor, as well as the laundry area.

 

This unique multi-level home has three secondary bedrooms on one level, and up a few more stairs and you will find a secluded master suite.

 

The Master Bath has new quartz counters, mirrors, sink & faucet, lighting and new glass surround for the shower.   There is a good-sized walk-in closet.

 

 

This home has a no maintenance patio for outdoor entertaining, a new shed and a new sprinkler control box.

 

 

Clarke Farms is a large neighborhood comprised of around 1,500 homes, is a pool community, and has its own elementary school, which is walkable from most of the neighborhood.   School-age children will attend Douglas County schools.

 

 

 

 

This home is active and ready for buyers today.    Call me if you would like to view this home!   720-231-6373

 

 

Sept. 22, 2019

Denver Market Update - August 2019

 

The Denver real estate market continues to see inventory increase, and so did the days on market.  The sales were down  2.2% over last year's sales, which shows we have seen a shift in our market.   The total inventory has increased, but we are seeing some going under contract fairly quickly, especially in the lower price points.  The days on market increased from last month (by 5 days).  The number of homes that are under contract have also decreased from last month.  Typically, the market picks up again right after Labor Day.  August is typically a slower month, as the kiddos have returned to school, some families are taking their last vacation, and/or enjoying the last of summer.

 

The drop in interest rate did spur on sales, which is good, as it was much slower starting the new year versus past years.    The following data is courtesy of Joan Cox - House to Home, Inc.

 

Denver saw an increase in active listings, and we have 1.4% more new listings than we did this time in 2018.   The under contract listings saw an increase (9.2%) over the same month 2018, yet a decrease from June 2019.  Sold properties saw an increase from last year.   With 31 days on market, this still indicates we are experiencing a Seller's market, just is a bit slower paced versus past years. (July 2018 we saw only 20 days on market)   Sellers should remember to list a home properly, as those over priced homes will sit on the market.  (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

 

Stats for the Month of August 2019

New Listings - 6,733 - up from 6,632 last month  (in 2018 it was 6,642) 

Under Contracts - 6,557 - down from 6,704 last month (in 2018 it was 6,006)

Sold Listings - 5,540 - down from 5,753 last month (in 2018 it was 5,665)

Days on Market - 31 days - up from 26 days last month (in 2018 it was 23 days)

Average Sold Price - $487,205 - down from $496,130 last month (in 2018 it was $471,397)

Percent of Sold Price to List Price - 99.1%, down from 99.3%  last month

 

Buyers - inventory increased this month, giving Buyers the chance to view more listings that match their criteria and not have pressure to write the instant they see a home before making a final decision.   There are times you even can think about a purchase overnight, and not "lose the bid".  With the Interest rate reduction, buyers are thinking this is a good time to buy a home, and seeing increased activity.

 

Sellers - Pricing your home is very important, and not start too high, or you will be sitting on the listing for a while, as you now have competition.  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, I can enter into MLS the fact you require a contingency of a replacement home.

 

 

Denver’s unemployment rate is currently at 2.4% for May.   First time to experience higher than the national average of 3.7% in June.   Colorado’s population is 5.557 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.   Lockhead Martin announced they are hiring many more employees.   See who else is adding employees.    Our state government is working hard on affordable housing issues for both the elderly and first time home buyers, with so many relocating into the Denver metro area.  I recently got a first time buyer into an affordable housing development at a lower price than found elsewhere in the City.  The builder was offering first-responders a fabulous deal!

 

 

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.