Jan. 16, 2019

Denver Real Estate Market Trends - December 2018

 

 

The Denver real estate market saw a slower month in December this year.    The sales were down 15.9% over last year's sales.   The inventory has decreased which is fairly normal this time of year by 2.5%.   The days on market have slowly been creeping up too from 31 days in November to 40 days in December.   (In April DOM was only 20 days.)  This still means it is a Seller's Market.   

  

With the interest rate creeping up and troubles with the government shut-down, think the public is waiting to see what will happen in our market.   The following data is courtesy of Joan Cox - House to Home, Inc.

 

Denver saw an increase in active listings (a decrease in NEW listings) and this month we have 50.4% more listings than we did this time in 2017.   The under contract listings saw an increase over the month of December 2017 and sold properties saw a decrease from last year.   With 40 days on market, this still indicates we are experiencing a Seller's market, but Seller's 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

 

New Listings - 2,300 - down from 3,911 last month  (in 2017 it was 3,666)

Under Contracts - 3,577 - down from 4,447 last month (in 2017 it was 4,859)

Sold Listings - 3,655 - down from 4,034 last month (in 2017 it was 4,794)

Days on Market - 40 days, up from 31 days last month (in 2017 it was 30 days)

Average Sold Price - $463,864 - up from $461,301 last month (in 2017 it was $432,816)

Percent of Sold Price to List Price - 98.7%, down from 98.7%  last month

 

Buyers - inventory increased this month, giving Buyers more inventory now to view before making a final decision.   There are times you even can think about a purchase overnight, and not "lose the bid".  This time of year starts showing a bit of a slowdown due to the Holidays, rarely seeing multiple offers on any given home, depending on the price point.  The price range between $300,000 and $500,000 has been the “sweet spot” and these homes are the ones garnering the most showings and offers at list price. 

 

Sellers - Pricing your home is very important, and not start too high, or you will be sitting on the listing for a while.  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.

 

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.    Depending on what time of year you list, pricing is strategic.   

 

 

 

 

 

 

Denver’s unemployment rate has been slowly increasing and currently at 3.3% for December.   Still very low comparing to the national average of 3.9% in December.   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.   We were in the running for Amazon coming to Denver, but in the end, did not win the bid.   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.  If our traffic issues would decrease, we could retain more of our residents.  It can be quite frustrating.

 

 

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.

 

Jan. 3, 2019

2019 Postage Stamp Increase

 

If you do any amount of mailing, and use stamps, you may want to stock up on those forever stamps soon.   Eff. January 27, 2019, the cost of mailing will increase.

 


 

I know many REALTORS have stopped doing direct mail, and the very reason I continue to do so.    Many times I send out postcards for Just Listed or Just Sold, and only see my postcards when they call for an interview.   I bought a few rolls of 1st class stamps and a roll of postcard stamps.

 

 

 

 

Jan. 2, 2019

Cheesman Condo For Sale - Denver, CO 80206

 

What an opportunity!   This remodeled condo has Cheesman Park, City and Mountain views.   Right on the Park!  

1265 Race Street #504

Denver, CO  80206

Priced at $285,000

 

This large one bedroom condo has been remodeled, and the following is all new -

~ New flooring (wood-like laminate and tile)

~ New windows and slider

~ New Kitchen - high-end cabinetry, quartz counter tops, stainless steel appliances, new scratch-free sink & faucet

~ New Paint (popcorn-free ceilings)

~ New light fixtures

 

 

 

Being on the 5th floor, there are mountain views from the kitchen and master bedroom.  Easy to walk the dog in the park!     The parking space is located on the back side of the building and is completely covered.  #47    There is a good sized storage locker, and in the storage area, there is a bike rack.  #26

 

Enjoy the amenities of this building - first, the building manager lives in the building on the main floor.   There is a gathering room for parties with a pool table, refrigerator, microwaves, vending machines and there is an exercise area.   The indoor pool maintains 90 degrees!   Management does organize parties for the residents a few times a year.

 

GREAT location so close to downtown, Botanic Gardens, many dining venues and the bus stop.

 

 

This building is so convenient, and can walk or bike to the coffee shop or grocery shopping.

 

 

So many choices for dining, whether it is casual or dine dining, you will find it all nearby!

 

 

Lots of outdoor activities to be found within a ten mile radius.

 

 

This condo just hit the market - set up your showing appointment now, or give me a call.  I would be happy to show you this remodeled property!    720-231-6373

 

 

 

Posted in New Listings
Dec. 31, 2018

Happy New Year

 

Today starts a New Year, and looking forward to seeing what the real estate market will be this year.    In June 2018 in most areas of Denver, saw a shift in the market.     No longer were we seeing multiple offers in hours.     Having a buyer in late November/December, we did see multiple offers in areas with low inventory.

 

Let's hope the real estate market is strong this year, and we still see first time buyers entering the market, allowing our move-up buyers to purchase their new homes.    The interest rates have increased from those days of 3.5%, but compared to 17%+ in years past, it is still a very good rate.  (rates are hovering around 5%)

 

If you have thought about moving, whether you are a buyer or seller, and you need advice, please give me a call.   I have 22 years of experience, and would love to be your source of information!

Nov. 28, 2018

Denver Market Update - October 2018

 

 Downtown Denver.JPG

The Denver real estate market has experienced a slowdown in mid-summer and we usually see sales pick up after Labor Day, but sales did not pick up like it had in the last several years.  The sales were down 11% over last year's sales.   The inventory has increased significantly by 34.6%.   The days on market have slowly been creeping up too from 26 days in September to 30 days in October.  

  

Sales after the Labor Day Holiday have been very sluggish around the Denver metro area the last couple of months.   The following data is courtesy of Joan Cox - Metro Brokers - House to Home, Inc.

 

Denver has seen an increase in active listings and this month we have 34.6% more listings than we did this time in 2017.   The under contract listings saw a decrease over the month of September and sold properties saw a slight increase from last month.   With 30 days on market, this still indicates we are experiencing a Seller's market, but Seller's 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

 

New Listings - 8,502 - down from 8,628 last month  (in 2017 it was 4,744)

Under Contracts - 5,263 - up from 5,181 last month (in 2017 it was 6,062)

Sold Listings - 4,415 - down from 4,422 last month (in 2017 it was 4,960)

Days on Market - 30 days, up from 26 days last month (in 2017 it was 27 days)

Average Sold Prices - $470,371 - up from $457,653 last month (in 2017 it was $440,035)

Percent of Sold Price to List Price - 99.0%, down from 99.3%  last month

 

Buyers - inventory increased this month, giving Buyers more inventory now (finally) to view before making a final decision.    This time of year starts showing a bit of a slowdown, rarely seeing multiple offers on any given home.  The price range between $300,000 and $500,000 has been the “sweet spot” and these homes are the ones garnering the most showings and offers at list price. 

 

Sellers - Pricing your home is very important, and not start too high, or you will be sitting on the listing for a while.  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.

 

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.    Depending on what time of year you list, pricing is strategic.   

 

 

 

 

 

 

Denver’s unemployment rate is still very low - at 3.0% for September.   Still very low comparing to the national average of 3.7% in October.   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.   We were in the running for Amazon coming to Denver, but in the end, did not win the bid.   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.  If our traffic issues would decrease, we could retain more of our residents.  It can be quite frustrating.

 

 

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.

 

Nov. 6, 2018

Buying a Home in the Denver Metro Area

Whether you are a first time buyer, move-up buyer, or a buyer coming into the metro area, you need representation from a broker that has experience and knowledge of the area.    The rules do differ from state to state, and you need a Broker that is on top of these differences.   

 

Buying a home requires attention to detail with the contract, deadline dates and all the details it entails to get to the closing table.   When our market was in a frenzy, a Broker needed to know how to "win the bid" for the Buyers.     When a Seller received multiple offers, it felt good to come away with the contract for my clients.

 

Buyer's agency requires many duties to the Buyers, including staying on top of all communication and within a quick time-frame.    I get back to my clients right away, so it doesn't leave them hanging for information on what is happening with their home purchase.

 

In the inspection during a strong Seller's market and during a Buyer's market could be quite different.  In order to "win the bid" in a Seller's market, you may limit the inspection items to be just health & safety.   During a Buyer's market you may want to ask the Sellers to clean the home professionally, clean the carpets or the ducts, along with all health & safety items.  

 

When you write the offer for the Buyer a Broker needs to know what the appraised value could come in at and relay that information before entering an amount into the contract.   Also, let the Buyers know what the ramifications would be if the appraisal came in low.   Does the Buyer bring the extra dollars to match the contract price, or does/would the Seller reduce the sales price, or meet somewhere in the middle?

 

Today with some SMART features in the home, also TVs that are attached to the wall, these are recognized as "fixtures" and should be addressed on the contract, not after the fact.   All parties need to know what to expect from Day One.    

 

There is a lot to know and to share with Buyers when you are representing a Buyer in a home purchase, and I have done so with many over the 20+ years in the industry in the Denver metro area.   I would be happy to help, just give me a call.

 

 

 

Posted in Buyer Tips
Oct. 23, 2018

Denver Market Update - September 2018

 

 Downtown Denver.JPG

The Denver real estate market has experienced a slowdown in mid-summer and we usually see a pick up after Labor Day.  Sales did not pick up like it had over the last several years.  The sales were down 15.3% over last year's sales.   The inventory has increased 13.5%.   The days on market have slowly been creeping up too from 23 days in August to 26 days in September.  

  

Usually right after Labor Day, we see an uptick in sales.   Still not as much as we see in early spring through June, but more than July and August.  The following data is courtesy of Joan Cox - Metro Brokers - House to Home, Inc.

 

Denver has seen an increase in active listings and this month we have 13.5% more listings than we did this time in 2017.   The under contract listings saw a decrease over the month of August and sold properties saw a decrease from last month.   With 26 days on market, this still indicates we are experiencing a strong Seller's market, but Seller's 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

 

New Listings - 5,953 - down from 6,636 last month  (in 2017 it was 5,851)

Under Contracts - 5,181 - down from 6,006 last month (in 2017 it was 5,784)

Sold Listings - 4,222 -  down from 5,423 last month (in 2017 it was 4,986)

Days on Market - 26 days, up from 23 days last month (in 2017 it was 24 days)

Average Sold Prices - $457,653 - down from $472,236 last month (in 2017 it was $426,984)

Percent of Sold Price to List Price - 99.3%, down from 99.6%  last month

 

Buyers - inventory increased this month, giving Buyers more inventory now (finally) to view before making a final decision.    This time of year starts showing a bit of a slowdown, rarely seeing multiple offers on any given home.  The price range between $300,000 and $500,000 has been the “sweet spot” and these homes are the ones garnering the most showings and offers at list price. 

 

Sellers - Pricing your home is very important, and not start too high, or you will be sitting on the listing for a while.  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.

 

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.    Depending on what time of year you list, pricing is strategic.   

 

 

 

 

 

 

Denver’s unemployment rate is still very low - at  2.9% for July.   Still very low comparing to the national average of 3.9% in August.   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.   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.  If our traffic issues would decrease, we could retain more of our residents.  It can be quite frustrating.

 

 

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.

 

Sept. 24, 2018

Denver Market Update - August 2018

 

 Downtown Denver.JPG

The Denver real estate market has experienced a slowdown in July and August.   The sales were down 5% over last year's sales.   The inventory has increased 9% both July & August over last year's inventory.   The days on market have slowly been creeping up too from 19 days in June to 23 days in August.   This may be the beginning of a slight shift in the market.

  

Being the end of the summer, we typically see a slowdown with potential buyers taking their vacations, as school has started and homeowners are less apt to move.   The following data is courtesy of Joan Cox - Metro Brokers - House to Home, Inc.

 

Denver has seen an increase in active listings and this month we have 9% more listings than we did this time in 2017.   The under contract listings saw a decrease over the month of July and sold properties saw a decrease from last month.   With 23 days on market, this still indicates we are experiencing a strong Seller's 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

 

New Listings - 6,636 - up from 6,456 last month  (in 2017 it was 6,423)

Under Contracts - 6,006 - up from 6,419 last month (in 2017 it was 6,584)

Sold Listings - 5,423 -  up from 5,323 last month (in 2017 it was 5,725)

Days on Market - 23 days, down from 20 days last month (in 2017 it was 21 days)

Average Sold Prices - $472,236 - up from $478,323 last month (in 2017 it was $431,380)

Percent of Sold Price to List Price - 99.6%, down from 100.0%  last month

 

Buyers - inventory increased this month, giving Buyers more inventory now (finally) to view before making a final decision.    This time of year starts showing a bit of a slowdown, seeing less multiple offers on any given home.  The price range between $300,000 and $500,000 has been the “sweet spot” and these homes are the ones garnering the most showings and offers. 

 

Sellers - Pricing your home is very important, and not start too high, or you will be sitting on the listing for a while.  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 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.    Depending on what time of year you list, pricing is strategic.   

 

 

 

 

 

 

Denver’s unemployment rate is still very low - at  2.9% for July.   Still very low comparing to the national average of 3.9% in August.   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.   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.  If our traffic issues would decrease, we could retain more of our residents.  It can be quite frustrating.

 

 

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.

 

Sept. 19, 2018

Remodeled Home for Sale - Cenntennial Acres, Englewood 80110

 

 

This gorgeous remodeled Ranch home shows beautifully, and shows a definite pride of ownership!    The kitchen and baths are completely remodeled, newer windows and  hardwood flooring on the main floor.

 

 

2944 W. Chenango Avenue

Englewood, CO  80110

Priced at $410,000

 

 

Two other secondary rooms along with the master bedroom are on the main floor, and the master features a gorgeous master bath with stunning tile.

 

The basement features a media room, another non-conforming bedroom and another gorgeous bathroom, along with a storage room.     

 

The yard is meticulous, and has flowers, lilac bushes and raised garden beds.  Great location near retail, entertainment, and lots of dining.    School-age children will attend Littleton schools - Centennial Elementary, Goddard Middle School and Littleton High School.

 

This home shows very well, and would be a great starter home, everything is all remodeled for you, just move in!   Get your showings set now!

 

 

 

 

 

If you would like more information about this home, please give me a call.   720-231-6373

 

Posted in New Listings
Aug. 4, 2018

Neighborhood of Pioneer Hills Townhomes - Centennial CO Market Update August 2018

 

Pioneer Hills is conveniently located off Parker Road & Chambers Road in Centennial 80015.   There are two sections - one that has single family homes and one that has townhomes and paired homes.   This community was originally built by Lennar, then Cal-Atlantic Homes and Lennar merged.  This community is exceptional views of Cherry Creek State Park, the reservoir, a Dog park, Cherry Creek Schools and many nearby shopping venues, entertainment and dining options.    So close to the Park, residents can hike, bike, swim and waterski within minutes.

 

Homes in Pioneer Hills were built in this community in 2006, some in 2010 and now have been building since 2016, and nearing completion.   There are two stories and ranch homes, all with basements.   The above ground square footage ranges from 1,842 to 2,876.    They all have two car attached garages.   The community has a tot lot plus a community pool.

 

 

 

Sales from 1/1 through July 31, 2018 - 

 

Total sales - 27 units ranging in price from $373,935 to $474,492

Day on Market - 52 days

Sellers saw 98.75% to list price

 

Homes for Sale in Pioneer Hills

 

There are currently only two units available at $404,500 and $525,000, with an average of 71 days on market.   There are 10 under contract ranging from $379,710 to $499,900 with 27 days on market.

 


 

The HOA differs for different style units and by square footage and year.    The fees do cover common area ground maintenance, community pool, exterior maintenance with roof, recycling, trash and snow removal.

 

 

 

 

 

If you would like to know more about this community, please give me a call at 720-231-6373.