January 2024: Denver Real Estate Market Update

Happy New Year! As we closed out 2023, home prices remained steady across Greater Metro Denver. The single-family home average closed price was $730,998, slightly higher than last December and relatively flat month-over-month. Condo/Townhome prices stayed strong as well, with the average closed price at $470,104, an increase of 0.9% year-over-year.

Total Closed Sales Since 2009

When looking at closed sales since 2009, 2023 most closely mirrors 2012. There were 40,444 closed sales in 2023, a 19% decline when compared to the prior year. Please see the graph below.

Total Closed Sales Since 2009

When looking at closed sales since 2009, 2023 most closely mirrors…

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The Best Places to See Fireworks in Denver this Year

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 Real Estate Market Update

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 Real Estate Market Update

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

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.

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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The Ultimate Spring Cleaning Checklist for Denver Area Homes

It's been a long snowy winter here in Denver, and it's officially Spring (even if the weather doesn't make us feel that way). Spring tends to be the forgotten season in Colorado, in most areas it's more like a second winter. But a seasonal change it is, and a great time for Denver area homeowners to freshen up the inside and outside of their home in preparation for warmer temps ahead. So, get ready to wash away the winter grime, open the windows, and prepare your home for warmer weather and backyard barbecues. 

Inside Your Home

❏    Conduct Annual Spring Cleaning
Be sure to tackle those areas that may have gone neglected—such as your blinds, baseboards, and fan blades—as well as appliances, including your refrigerator, dishwasher, oven, and…

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How to Save Money on Gas in the Denver Metro Area

Gas prices got you down? You're not alone.

The Denver average for a regular gallon of gas went over $4.00 per gallon for the first time in more than a decade. Fuel prices have skyrocketed since the Russian invasion of Ukraine just 2 weeks ago, and there's no end in sight. "The higher prices this time will likely stay around far longer," GasBuddy's head of petroleum analysis, Patrick De Haan, tweeted. So how can you save money at the pump here in Denver?

Use Phone Apps like Gas Buddy for Real-Time Pricing

I just started using the Gas Buddy app, and it's already paying off. It pulls up every nearby gas station based on your real-time location and shows you every gas station nearby based on their gas prices. Install it from the app store on…

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Add Value To Your Denver Home With These 9 DIY Improvements

Whether you’re prepping your Denver home to go on the market or looking for ways to maximize its long-term appreciation, these nine home improvement projects are great ways to add function, beauty, and real value to your home. For instance, real estate professionals estimate that a closet remodel can add $2,500 to a home’s selling price. 

The best part is, once you’ve secured the materials, most of these renovations can be completed over the course of a weekend. And they don’t require a lot of specialized skills or experience (remember, YouTube is your friend). So grab your toolbox, then get ready to boost your home’s appeal AND investment potential!

1. Spruce Up Your Landscaping

Landscaping improvements can increase a home’s value by 10-12…

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City Highlight: Castle Rock

When most people think of Colorado cities, Denver comes to mind.  Our ski towns get a lot of hype as well.  Most people have heard of Vail and Aspen.  This article is the first in a series about some of the more subtle towns around Denver.  Not everyone loves this big city lifestyle and that’s ok.  We have great cities in the front range with loads of charm and hidden gems. 

This week’s feature is Castle Rock.  It is one of the fastest-growing cities in Colorado.  The population is approximately 62,276 which is up almost 30% from the 2010 census.  Located 28 miles south of Denver and 37 miles north of Colorado Springs Castle Rock is the home to commuters from both cities.  Other than its central location, Castle Rock has a lot to offer.

Castle…

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Five Step Strategy for Downsizing Your Denver Home This Year

In our “bigger is better” culture, there’s an expectation that each home should be larger and grander than the last. But life changes like divorce, kids leaving for college, or even the simple act of growing older can prompt us to find a smaller home that better suits our shifting needs and lifestyle. Maybe you are looking for something smaller, or just looking for something the "right-size." Or perhaps you just need a different floorplan like a Ranch or something with less maintenance like a Denver Patio Home.

In fact, the advantages of downsizing are being increasingly recognized. A “tiny house movement” has gained passionate advocates who appreciate the benefits of living simply at any age and stage of life. Not only does a smaller home…

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