Real Estate Market Conditions Wed, 06 Jul 2016 00:00:00 GMT Wed, 06 Jul 2016 00:00:00 GMT en-us Winter Real Estate Market Conditions in Denver <p>Winter months are the slowest for Real Estate in Denver. Right now the average time on market is about 15 days longer than the summer months, we have 40% less homes up for sale, and seller's are negotiating more than any other time of the year.</p><p><br></p><p>If you need to buy a home in the next three months open up your search to several areas so you have more options to choose from. Sellers that have their homes up for sale right now are motivated to move and you can expect to get 3% off of their asking price. You will be smart to buy soon as home prices and interest rates are rising. We are expecting interests rates to rise in 2018, some lenders are expecting it to go up to 5%.&nbsp;&nbsp;</p><p><br></p><p>Sellers need to make sure their homes are in top condition. Buying activity will be slow for the next 3 months so make the most of your showings.&nbsp;</p><p><br></p> Thu, 28 Dec 2017 00:00:00 GMT 4th Quarter Real Estate Market Summary <p>The fourth quarter has proved to be competitive and several buyers are ready to move. Consumer seniment is at the highest level since December, 2000 and Denver has the one of the lowest unemployment rates in the nation at 1.7%.&nbsp;</p><p><br></p><p>Our market is still undersupplied and builders are not pulling enough permits to meet the demands of buyers. New home starts will be lower than expected due to the natural disasters and building issues like Weyerhaeuser Flack Jacket pulling resources from the Denver market.&nbsp;</p><p><br></p><p>Townhome starts will reach an all-time high as builders try to reach the first time home buyers and affordable housing. I don't expect many builders to have a home under $350,000.&nbsp;</p><p><br></p><p>Rental vacanies are rising and up to 5.4% now. The average rent is $1,412 with a 3% annual appreciation. If you are able to purchase a home, this is still a good time to do it!&nbsp;</p><p><br></p> Thu, 16 Nov 2017 00:00:00 GMT Pumpkin Spice Season Is Here! <p>The number of homes for sale is starting to decline as we head into the winter months. Historically we see the biggest drop in homes for sale between October and November. If you are thinking about buying a home in 2017 September and October will give you the most options to choose from.&nbsp;</p><p><br></p><p>The average time a house is for sale before accepting an offer is currently 27 days. We are past the busy season of 2017 and seller’s are more willing to negotiate with buyers.</p><p><br></p><p>On average homes were selling over the asking price from March to July. &nbsp;Right now the average sales price is 99.5% of the asking price.</p><p><br></p><p>Over the last five years home values have appreciated very close to 9% each year. The average price of a home in Denver Metro is $425,298. I expect this trent to continue through 2019.&nbsp;</p><p><br></p><p>Denver has been popular in the headlines recently with talk of a new Amazon fulfillment location and a future hyperloop.&nbsp;</p><p><br></p><p>There are several new home communities throughout the metro area. is the best resource to find these communities. If you have any questions about building a new home, give me a call at 303-501-2810.&nbsp;</p><p><br></p><p>&nbsp;</p><p><br></p><p>&nbsp;</p> Sun, 24 Sep 2017 00:00:00 GMT Denver Real Estate Market Conditions - The Second Selling Season <p>Summer vacations are coming to a close and kids are headed back to school. The second selling season is upon us! Right now there are 10,265 homes available in Denver Metro. That's down slightly from our peak in July with 10,725. If you are thinking about moving in 2017, now is a great time to be looking while the number of homes for sale is high. Homes are selling in an average of 23 days. <br><br>The average sales price continues to climb. We started the year at $395,431 and we are up to $440,309. This rapid rise in home values is expected to continue through 2019. <br><br>As we move into the fall you can expect to see the number of homes for sale gradually fall down to 6,500 in December and the average time on market to increase to 35 days in Decemeber. <br><br>Pricing is critical for home sellers. I am noticing that homes priced over market value are sitting on the market and homes priced at market value are selling at asking price in the first week. It's important to analyze the homes that have recently sold near your house and the homes you will be competiting against when you set the asking price. As a buyer, you should be willing to pay full price for a home if it is priced right.</p> Mon, 14 Aug 2017 00:00:00 GMT Denver Real Estate Market Conditions <p>Denver real estate is getting more competitive! We currenlty have 9,338 homes for sale. The market is down 16% in homes for sale from June 2016. On average, homes are selling in 21 days and at 100% of the original asking price. We started 2017 with an average sale price is $395,314 and it is already up to $432,160. Right now the forecasting reports are predicting the average appreciation rate will stay around 9% through 2019.</p> Mon, 19 Jun 2017 00:00:00 GMT