Metro Denver Real Estate Market Report

There are currently 44 blog entries related to this category.

 

While home prices experienced a slight dip in Metro Denver, overall trends show boom in appreciation values since 2014. 

The average and median sold prices of homes both slowed down from the previous month, with appreciation slipping 1.41 percent to $404,160 and 0.46 percent to $350,000, respectively. While home prices had a slight decline month over month, Denver-area has experienced a 23 percent boom in average home appreciation values year to date in the past 24 months. 

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“The thrill of victory and agony of defeat are easily interchangeable between sports and real estate,” said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “As the past twenty-four

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What will the Denver Real Estate market do as we head into fall and winter of 2016? I write a blog post about the market with the change of each season since the Denver market has become so seasonal. I've heard lots of talk around my office of how slow the market is right now and when we hear this, it's easy to freak out and think the market is slowing and perhaps a bubble is about to burst. But we have to remember that for the past four years, this exact same slow down has occurred in August and September and by next spring, the craziness we have gotten used to will return. To better understand the market, let's look at these very informative numbers courtesy Megan Aller with Land Title here in Denver.

As you can see, the number of active listings

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Buyers feel relief with price improvements and an abundance of listings. 

In July, for the entire residential market (single family and condos), there were decreases in nearly every category, including new listings, homes sold, average and median sold prices and overall sales volume. The only category showing an increase was active listings, up 9.89 percent compared to the month prior. 

 

“Who needs a national political convention for entertainment when we get to experience the Denver Metro real estate market?” said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “July was an interesting month overall as so many seasonal factors converged, pushing nearly every statistical category into the red

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June was a record-setting month for 2016!

We set yearly records for active listings, new listings, days on market, average sold price, median sold price, number sold, and sold volume. Since 2005, Denver has seen an average increase in listings of 4.2% from May to June. This year, however, listings increased 24.4% - a big jump compared to the past 11 years!

 

Since 1985, June represents the high water mark for active listings 19% of the time, compared to July and August, which represent the high water mark 26% of the time. We are starting to see signs of a much needed market correction and a market plateau may be on the horizon. Denver County is the #1 county in Colorado – and #7 county in the nation – for inbound migration.

Denver rental

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What is the cost of waiting to buy a Denver home? This is a blog that I try to do twice a year and every time I write it, I think there is no way these numbers will come to fruition. But every time I've written it, the projected average price for a Denver single family home has always met or exceeded the projection and I don't expect it to be any different this time.

Based on job growth, the number of people moving to Denver, lack of inventory and sustained demand, it looks like the average price for a home in May of 2017 will be pushing $500K, right around $491,606. This is an incredible increase and evidence that we are not in a bubble and even more reason why it's still a great time to buy in Denver. 

 

I wish I could take credit for these

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Homes on the market hit a new record low for the month of May at 5,463 active listings.

As reference, the average number of active listings in the month of May is 16,981 (1985-2015). The record high May was in 2006 with 30,457 listings, and the record low May was 2015 with 5,657.

“Ongoing inventory shortages are now spreading across the country,” said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “And here we are setting yet another new record low for inventory in May.”  

While active listings are only down 3.43 percent year over year, this is the time of year when inventory grows until the market hits its peak in August and September according to Rael.

He comments, “If things continue at this

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Compared to the previous month, the metro-Denver residential real estate market experienced increases in virtually every category including active listings, new listings, homes under contract, homes sold and closed, and overall sales volume. While the average and median sales prices were also up in April, it was only a two percent and 1.45 percent increase respectively.

“Close your eyes and imagine the opening chords to the Rolling Stone's song 'Start Me Up' and it will surely do two things – put a smile on your face and get you pumped up!” said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “Our Spring real estate market gives me that feeling because it is off to a great start as evidenced by

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The Spring Market Has Officially Arrived, Along With Fresh Inventory.

For the entire residential market last month, active listings, new listings, homes under contract, and homes sold showed double-digit month-over-month gains. The total sales volume is up 11.93 percent year to date to $3.87 billion.

“Spring has sprung and the Denver-area is bursting with activity,” said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “I’m quite certain homebuyers and my fellow REALTORS® are growing tired of hearing about our lack of housing inventory, so it’s with great pleasure that I share that this month’s market trends report is filled with an abundance of positive news.”  

Digging into the numbers, for the entire

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Inventory hits another record low. 

From 1985-2015, February has averaged 14,979 active listings. The Denver-area had a record high of 25,484 in 2006, and closed out February 2016 with a historically low 3,963 active listings – representing a six percent decrease in inventory over the previous month and 2.8 percent decrease year over year.

“Market activity is picking up, but home sellers appear to be holding out for the upcoming spring frenzy in April and May,” said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “This spring is shaping up to replicate last year's market of high demand significantly outweighing supply.” 

Digging into the February MLS housing stats for the entire residential

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January ended the month with a total of 4,221 active listings (single family and condos). Looking back at the last three decades (1985-2015), January has averaged 14,426 available listings with a record-high in January 2006 of 24,387 - nearly six times more than today.

"As the city finds itself buried in a foot of snow, my fellow REALTORS® find ourselves wondering when the avalanche of new listings will make their way into our marketplace,” said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “While it sounds redundant for me to talk about the ongoing lack of inventory and rapidly increasing home prices each month, it is what it is. Simply put, we have to keep finding ways to do

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