September 2022 Denver Market Update

Greater Metro Denver saw more of a balanced market in August as buyers had more options compared to last year and increased time to ponder their home buying choices. Other indicators of a return to more "normal" levels include that the closed-price-to-list-price is down, prices dropped slightly, and days on the market increased. The month's supply of listings for August was at 2020 levels.

Prices remained high at $739,089 on average for a single-family home but came down 4.7% when compared to last month. For reference, the all-time high was set in April of 2022 at $819,253. 

Percent of Closed Price to List Price

This data point saw a significant drop when compared to last month and indicates a move…

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August 2022 Denver Market Update

As anticipated, given the increase in mortgage rates and recent economic news, July saw a bump up in active inventory, a drop in pending listings and an increase in days on market. Prices decreased when viewed month-over-month but were still high when viewed historically, with the median sales price at $650,000 for July.

These data points indicate that now might be a good time for buyers to make a move if they have been holding out. While July does tend to slow down in real estate, anecdotally, we hear that another contributor to slowing demand was an uptick in vacations this July versus last year at this time.

Supply - Active Listings

Continued good news for patient…

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July 2022 Denver Market Update

June data indicated that the Greater Metro Denver market is returning to more "normal" levels across inventory, percent closed to list price, and days on market. Pricing was still very high when viewed historically with the median sales price at $666,963 for June - while this is only a 0.1% increase when compared to last month it is an 11.2% increase when viewed YoY.

Active listings came onto the market, indicating that sellers still seek to profit from the recent buying frenzy. But, demand is down when compared to May 2022, and days on market continued to increase.

Supply - Active Listings

Continued good news for buyers is that active listings increased 44.2% when compared to…

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Fireworks are back this year in full force, and we can't wait! This year it will be extra awesome with several fireworks shows all across the Denver metro area (and Front range). With the 4th falling on a Monday this year, we've all weekend to enjoy BBQs, family, friends, and FIREWORKS! Go America!

With the holiday falling on a Monday this year, most of the more giant fireworks shows will be on Monday the 4th! Some trends to note this year, some shows have been canceled due to fire danger, so make sure to reference your favorite show to ensure they will have real fireworks. Some communities have gotten creative, replacing fireworks with laser shows (Winter Park) or LED drones (Vail). Most of these events start in the morning.

We've listed every…

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June 2022 Denver Market Update: 

May numbers indicate a slight cooldown of the red hot Greater Metro Denver market. The average close price was up when looking at year-over-year but dropped 2.1% when compared to April. The median sales price landed at $668,000 for May - a 1.6% decrease when compared to April.

Demand remains robust with pending listings up 12.9% when compared to April, further underscoring that Metro Denver remains a desirable place to live. And, buyers are likely feeling some (slight) relief with average days in MLS ticking up 12.5% when compared to last month to 9 days.

Key highlights for May are below.

Supply - Active Listings

Active listings are just above 2021 levels but did see a decrease of 3.5% when compared to…

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May 2022 Denver Market Update: 

April saw the average sales price increase to $820,740 and the median sales price jumped to $680,000. Buyers felt relief with an influx of new listings - April saw a jump of 13.2% in new inventory compared to March.

Demand remained high and at the same level as 2019 and 2021, but homes are moving very quickly with just 8 days on market, on average.

Anecdotally, we hear that competition remains fierce with multiple offers. We will continue to keep an eye on interest rates as we progress into May and the summer.

Supply - Active Listings

Active listings saw an increase to 2,960 - a 29.4% increase over March. While a relief for buyers, this number is still down as compared to the previous 3 years.

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Denver is a hot seller's market, but that doesn't mean your home is guaranteed to sell quickly. Attention to detail and preparation matter in any market, and sellers that are listing their home the right way are creating multiple offer situations and crushing market averages. When multiple buyers bid on your home, Denver sellers win.

Seller's Checklist A Timeline to Prep Your Denver Area Home for Sale

We've outlined all of the steps below, but start by connecting with a top-rated Denver real estate agent as soon as possible. Having the eyes and ears of an insightful real estate professional on your side can help you boost your home's appeal to buyers. First, beginning the preparation process early allows you to tackle repairs and upgrades that can increase your property's value. The more runway the better.

Use…

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Rockies opening day, and rooftop bars - it's a Denver right of passage. And with so many fun places to hang out this Spring, how can you possibly choose just one? Denver is chock full of fun patios and rooftops to enjoy this gorgeous Spring weather. So get out there, bask in the sun with your favorite IPA in hand (you're in Colorado ya know) - and tell us below which hot spots we are missing.

Happy Camper - Don't worry, eat happy! If you ask us, the experts, there's not a better combination of pizza, booze, vibes, and happiness.

Happy Camper Denver


Linger - If you're not too creeped out by the fact that this was Olingers Mortuary before turning into a hip restaurant, you'll enjoy some tremendous views and fine Asian street-style food.


Avanti Food &…

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April 2022 Denver Market Update: 

HOME VALUES ARE AT AN ALL-TIME HIGH!

March continued the trend of very high demand, an overall shortage of inventory, and skyrocketing home prices. The Spring market is starting with a big bump in new listings - March saw an increase of 42.4% as compared to last month - but they are moving very quickly with just 11 days on market, on average.

Buyers are facing high prices - the average price for a single-family home in March was $793,445 (an increase of 8% over last month) and the percent closed price to list price jumped to an astounding 106.5% from 104.8% from February.  In March, 21% of closings were cash buyers.


Supply - Active Listings

Active listings saw an increase of 31.6% over February - a…

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It's time to put away the puffy jackets and pull out the flip flops (or more likely Birkenstocks). It's Springtime in Colorado! We've got festivals, theater, concerts, and more! The masks have been ripped off and it's time to go enjoy each other's company once again.

What are we going to be up to this Spring? Likely taking in a few of these fun activities.

April 8th - Opening Day! A yearly reminder that Spring is here. Come on down to Coor's Field and watch the Rockies take on the Los Angeles Dodgers for the first game of the season. Get Tickets Here

Photo Courtesy of KRDO

April 14 - Nov 24th - The Art of Banksy - After 5 years of vacancy, The Denver Sports Castle is getting a new tenant this month.  Arguably, the most intriguing and…

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