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Denver Real Estate Market Update - July 3, 2024As we approach Independence Day Weekend, we're seeing some interesting trends in the market that could impact your strategies for both buyers and sellers. |
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Selling a home can be a complex process, filled with many questions and uncertainties. As a seller, you want to ensure you're making the right decisions to get the best possible return on your investment. Here are the top 10 questions sellers often have when preparing to sell their home:
1. **When is the best time to sell my home?**
The best time to sell can depend on many factors, including local market conditions, seasonality, and your personal circumstances. However, traditionally, spring is often considered the best time to sell as many buyers are looking to move before the new school year starts.
2. **How much is my home worth?**
The value of your home is determined by a variety of…
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As we bid farewell to 2023, it's time to reflect on the Denver real estate market's performance and anticipate what lies ahead. December 2023 brought some notable shifts, mirroring the city's typical seasonal patterns.
The median close price dipped by 2.8 percent to $551,993, and closed sales saw a decrease of 7.65 percent, settling at 2,620. The median days on the market (MLS) experienced a rise of 31.82 percent, increasing from 22 to 29 days. This was largely due to the declining interest rates that began in November.
However, a year-over-year comparison paints a more optimistic picture, taking into account the same seasonal factors. New listings saw a negligible decrease, with only…
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Denver, the Mile High City, is not just known for its stunning mountain views and vibrant culture, but also for its booming real estate market. Over the next decade, several housing developments are set to redefine Denver's skyline and offer incredible opportunities for home buyers and investors alike. Let's take a closer look at these promising projects.
**1. River Mile**
First on our list is the ambitious River Mile project. This development aims to transform the area around Elitch Gardens into a vibrant neighborhood. With plans for 12,000 residential units over the next 25 years, the next decade will see the first phase of this development come to life. River Mile is not just a housing…
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The Denver Metro Housing Market experienced some changes in October 2023. We observed a minor decrease in selling prices and an increase in days on the market. This shift slightly favors buyers, but they are now facing higher rates than the previous year. Despite current mortgage rates suggesting potential downward pressure on pricing, the limited inventory has kept prices relatively stable, with a slight decrease. October marked the usual seasonal slowdown in the Greater Metro Denver residential market. Both active and closed listings for attached and detached properties declined when compared year-over-year and month-over-month. The average sales price for detached single-family homes saw a minor…
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Below are key market highlights from December for the Greater Metro Denver area (Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson). The Greater Metro Denver real estate market saw ups and downs throughout 2022, most notably across inventory, days on market, pending sales, prices and interest rates. Inventory and days on market dominated headlines in the first part of the year but were overtaken by interest rates mid-year. Active listings (ASF and DSF) were at a low point in February 2022 at 1,148 listings, which spiked to 7,465 in July and landed at 4,585 in December. Months supply of inventory (DSF & ASF) was at 1.13 months in December - up 215.74% year-over-year. Days on market…
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Check out this new listing by Doug Young and Michael Gabriel, located in Watson Estates in Buckeye. Check out the property website for more information at: https://6494336.thecascadeteam.com/
Move in ready, single story home, located in Watson Estates, close to the I-10. This home features a split floor plan with three bedrooms, den and two full bathrooms. Entering this home, you have the two nice sized bedrooms, and the guest bathroom on your left. Down the hallway is a good size den/office on your right. The extra large master bedroom has lots of natural light, along with an en-suite featuring separate shower, tub and a walk-in closet. The kitchen has a breakfast bar, lots of cabinet and counter space, and a pantry.…
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The Federal Trade Commission (FTC) has imposed a $62 million fine on the home buying company, Opendoor, for misleading home sellers. The FTC announced the settlement on Monday, stating that Opendoor had falsely claimed that sellers could profit more by selling their homes to the company rather than through traditional methods. However, the FTC's investigation revealed that most sellers who sold their homes to Opendoor actually earned less than they would have through a conventional sale via a real estate agent. Opendoor, an instant buyer or "iBuyer", purchased 36,908 homes in 2021. The company buys homes directly from…
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Here are the stats for Parker's housing market, effective May 24, 2022. The market has seen a slight slowing with the rise in interest rates over the last number of weeks, but demand still appears to be stronger than inventory levels can support. However prices appear to have leveled out a bit, and even with the talks of inflation and recession, the housing market is still moving forward as home buyers look to enter the market. If you are looking at buying or selling, now is still a good time if you have a long term time horizon. In all previous recorded recessions, other than the one in the late 2000's brought on by the housing market, housing prices have continued to climb and rates have historically…
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When purchasing a new home, it’s important to do in-depth research on all facets of the home buying process. One thing you’ll need to understand is how to best protect yourself and your investment if anything were to go wrong. Check out the information on home insurance versus home warranty below to educate yourself on your options.
Home Insurance
Homeowners insurance pays for any accidental damages and loss that are caused by fire, lightning strikes, windstorms, and hail, however, damage from earthquakes and floods is typically not covered. It also covers the replacement of personal property in case of theft or damage and liability if a person were to get injured in…
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