Real estate market updates for Denver Colorado.

As the anticipation of Christmas fills the air, the Colorado real estate market takes its seasonal siesta as inventory and demand show a typical decline. Despite this, the market remains dynamic, albeit on a slightly smaller scale.

Home prices have exhibited resilience, with the average closed price for single-family homes reaching $728,594—a modest increase compared to the same time last November. Condo and townhome prices continue to demonstrate strength, with an average closed price of $465,237. The real estate landscape in our area still remains vibrant, offering both buyers and sellers great opportunities. 

Demand - Pending Sales

Demand, a snapshot of the new pending sales reflects a decline in the…

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In October, the real estate market experienced the impact of both seasonality and fluctuating interest rates. There were fewer active listings, new listings, and pending listings compared to the same period last year. However, there was a slight increase in demand, as reflected in the number of pending listings, which is consistent with the trend observed in October 2022.

Despite these fluctuations, property prices continued to rise. The average closing price for single-family homes increased by 4.0% year-over-year, and the closed-price-to-list-price ratio reached 99.1%, marking a slight 0.3% increase from the previous year. While these changes may appear modest, they underscore the resilience and strength of property prices in the current market.

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The trend we've observed over the past few months persisted into August. During this period, there was a decrease in new listings, active listings, and pending sales compared to the previous month and the same period last year. Many experts are now characterizing this situation for sellers as being trapped in a scenario often dubbed "golden handcuffs," where elevated interest rates are impeding homeowners from making a move.

New Listings

This data point remained below prior years. It declined slightly month-over-month and by 8.6% when compared to last year at this time.

Below is a chart showcasing August new listings from 2009 to date. Note that August 2023 listings are on-track with what we saw in 2009,…

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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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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. 

City Highlight Castle Rock Colorado

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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There's a lot to consider when selling your Denver home, from the real estate market and appraisals (to where you'll go next). However, one key factor that is often overlooked is overall home design. It's usually one of the first things buyers notice when they walk into a home, and it's also a detail that you, as a seller, can easily control.

According to Realtor.com's 2022 housing market forecast, home for-sale inventory is supposed to increase from last year, as will the projected number of overall sales. This is welcome news to Denver home buyers facing the worst inventory in recent history, battling all-cash offers - and pending interest rate increases.

7 Popular Home Design Features for 2022

You don't have to go at this market alone. We are a team of top-rated Denver real estate…

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The River Mile

The next great place in the evolution of Denver. Located along a mile of the South Platte River, it’s envisioned as a sustainable, walkable downtown neighborhood. It will feature state-of-the-art residences for everyone – with public parks and promenades, a new elementary school, and a variety of shopping, dining, entertainment, and cultural destinations essential for family life in the city. Build-to-suit workspaces will range from business incubators to regional corporate headquarters. And public transit will be facilitated by two light rail stations. This is truly a one-of-a-kind project – the largest in downtown Denver – spanning 62 acres and expected to take up to 25 years to complete. Restoration of the river is now underway.…

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If you need help navigating this market, call us at (303) 532-4742. Buyer fatigue is real at the moment, with lots of buyers giving up on their search. Sellers are getting bad advice, listing with no plan or execution. When you work with us, you are working with the very best Denver real estate agents. Don't leave such a huge financial decision to chance.

July 2021 Denver Market Update: 

The June real estate market continues to be unique and is largely defined by 5 key trends across pricing, supply, and even new listings as outlined below. An interesting data point we will continue to watch is a slight decrease in showing activity (which may indicate a slowing residential market going into the second half of the year).

  1. Single Family Average…

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Among its many impacts, COVID-19 has had a pronounced effect on the housing market. Low home inventory and high buyer demand have driven home prices to an all-time high. This has given an unexpected financial boost to many homeowners. However, for some renters, rising home prices are making dreams of homeownership feel further out of reach. In fact, the gap between homeowners and renters has never been wider. If you own a home, you are absolutely loving this market and watching your home value increase by thousands of dollars a month. Renters are between a rock and a hard place, rising rents are hitting their pocketbook while rising home prices are making homeownership more and more unattainable. 

How Rising Home Prices Affect Your Home Equity (and Net Worth)

As a homeowner, it’s important for you to…

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If you need help navigating this market, call us at (303) 532-4742. Buyer fatigue is real at the moment, with lots of buyers giving up on their search. Sellers are getting bad advice, listing with no plan or execution. When you work with us, you are working with the very best Denver real estate agents. Don't leave such a huge financial decision to chance.

June 2021 Denver Market Update: 

This absurdly strong seller's market continues with the average price of a single-family home in the Greater Metro Denver area up 30% year-over-year to $693,808. Buyers continue to flock to Denver and are more than willing to pay top dollar (and agree to just about anything to get their contract accepted). The Denver real estate market continues to be unlike…

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