Wednesday, December 14, 2016

Denver Real Estate Market Update December 2016

7 COUNTY METROPOLITAN DENVER MARKET UPDATE
DECEMBER, 2016
By the numbers:
  • The inventory of available homes for sale is 3,476 homes at November month end
  • 3,543 homes came onto the market
  • 2,295 homes went under contract
  • 4,142 homes closed
  • Median sold price $350,000
  • Average sold price $400,569
  • Closed dollar volume $1.659 Billion.  
Monthly Market Recap:
Single Family:                                                                      
  • Active Inventory is 2,566                                                      
  • Sold Homes is 2,969                                                                          
  • Average Price is $443,058                                         
  • Median Price is $376,000                                          
  • Average Days on Market is 39                                                          
 Condo:
  • Active Inventory is 910
  • Sold Homes is 1,173
  • Average Price is $293,025
  • Median Price is $247,000
  • Average Days on Market is 31
Year To Date Market Recap:
 Single Family:                                                                      
  • Sold Homes is 34,995                                                
  • Average Sold Price is $441,821                                            
  • Median Sold Price is $380,000                                  
  • Average Days on Market is 33                                   
Condo:
  • Sold Homes is 14,019
  • Average Sold Price is $286,663
  • Median Sold Price is $239,900
  • Average Days on Market is 31
Market Facts:
The Denver home market continues the seasonal slowdown with a focus on family and holidays. Buyers remain in the market, Sellers are motivated and looking forward. Winter weather is on the way, homes for sale remain low, lifestyle choices and smart homes are the number one priority of home buyers. The Denver economy is continuing to move forward strongly into 2017.  2016 is another record setting year but we will start to see changes in 2017.
Advice to Sellers:
2017 will be here in a few weeks and as a Seller, what can you expect from the Denver home market?
Let’s look at 2017 predictions for the Denver home market:
  • Overall the Denver home market will continue to move forward; but at a slower pace than 2016.
  • Buyer demand will continue to be strong as Denver continues to be a destination city.
  • Price appreciation will not be as great as in 2016.
  • New household formations will continue to increase and multi generations will look to buy.
  • Denver will continue to be in the top 10 home markets in 2017.
  • Consumers will continue to focus on home ownership.
  • New home builders will focus on increasing the availability of their new homes.
Seller preparation includes a good pricing comparison analysis, instructions on staging, what are the top improvements, and a conversation on how the market functions.  As such, the homeowner looking to sell a home needs a professional who is a local expert and also knowledgeable in the entire market.
Advice to Buyers:
2017 will be here in a few weeks and as a Buyer, what can you expect from the Denver home market?
Let’s look at a 2017 prediction for the Denver home market:
  • 2017 will bring increased home mortgage interest rates
  • Continuous changes to the closing process
  • Lower price appreciation
  • Strong Buyer demand as Denver continues to be a destination city
  • An increase in household formations.
Create your home buying plan and stick to it.
Know what you want in a home, where you want to live, and what price range you can afford.  Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home.  Be prepared, manage your expectations, and be open to looking at the entire Denver market.  Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.

RMP Market Report- December 2016.jpg

Tuesday, November 29, 2016

RE/MAX National Housing Report November 2016

RE/MAX National Housing Report November 2016

Michael Kozlowski #1 Agent at RE/MAX Professionals 3 Years in a Row!

Check us out: http://www.team-koz.com/


Tuesday, November 22, 2016

Denver Real Estate Market Report November 2016

Denver Real Estate Market Report 2016!

#1 Agent at RE/MAX Professionals 3 Years in a Row!

Check us out: www.team-koz.com


Saturday, November 19, 2016

Denver Real Estate Market Update November 2016







7 COUNTY METROPOLITAN DENVER MARKET UPDATE

NOVEMBER, 2016



By the numbers:



-          The inventory of available homes for sale is 6,235 homes at October month end

-          4,657 homes came onto the market

-          4,628 homes went under contract

-          4,475 homes closed

-          Median sold price of $349,900

-          Average sold price of $397,611

-          Closed dollar volume of $1.779 Billion. 



Monthly Market Recap:



Single Family:                                                                       

Active Inventory is 4,799                                                      

Sold Homes is 3,162                                                                          

Average Price is $442,934                                         

Median Price is $380,000                                          

Average Days on Market is 34                                                          



Condo:

Active Inventory is 1,436

Sold Homes is 1,313

Average Price is $288,462

Median Price is $241,700

Average Days on Market is 30



Year To Date Market Recap:



Single Family:                                                                       

Sold Homes is 31,951                                                            

Average Sold Price is $441,735                                            

Median Sold Price is $380,000                                  

Average Days on Market is 32                                  



Condo:

Sold Homes is 12,811

Average Sold Price is $286,100

Median Sold Price is $239,000

Average Days on Market is 31

Market Facts:



October was a very interesting month in the Denver home market as we saw an increased seasonal slowdown that was not only impacted by the time of year; but, also by the current election cycle.  Thankfully the election is over and now we all can focus on our priorities.  Active listings at month end have decreased as well as closings.  The Denver home market will continue to see a seasonal adjustment.  As always, Buyer or Seller be prepared.





Advice to Sellers:



Buyers today continue to be more educated on the Denver home market.  We are in a slower time of year as traditionally the 4th Quarter relates to less home closing transactions per month than in the previous months of the year.  With fewer homes available for sale a Buyer could be around the corner at any time.



As a Seller in the current home market, you need to be aware of: (1) Increased appraisal times, (2) Buyers focused on smart homes, (3) Renovated and energy efficient homes becoming a priority (4) Healthy homes are now becoming a new priority as well (5) Interest rate increases will impact the home market while home price appreciation will remain low for the foreseeable future.



Seller preparation includes a good pricing comparison analysis, instructions on staging, what are the top improvements and a conversation on how the market functions.  As such, the homeowner looking to sell a home needs a professional who is a local expert and can assist in the Professional plan to sell one’s home.



Advice to Buyers:



November is considered to be yet another great month for Buyers.  This is because the prime home buying season has passed, the number of Buyers in the Denver home market will be fewer than the previous month, home prices are not increasing as fast as they have in previous months, and there are fewer homes available than in prior months.  Be prepared to act quickly, create your home buying plan, and stick to it.



Home pricing will remain constant with little or no price appreciation, mortgage interest rates remain low today, even though there is every indication that mortgage interest rates will increase in the near future, and Sellers will be open to multiple offers.



Know what you want in a home, where you want to live, and what price range you can afford.  Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home.  Be prepared, manage your expectations, and be open to looking at the entire Denver market.  Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.


Monday, October 31, 2016

RE/MAX National Housing Report October 2016

RE/MAX National Housing Report October 2016

Michael Kozlowski #1 Agent at RE/MAX Professionals 3 Years in a Row!

Check us out: http://www.team-koz.com/




Wednesday, October 19, 2016

Denver Real Estate Market Update October 2016


Denver Real Estate Market Update October 2016



By the numbers:

-          The inventory of available homes for sale is 7,043 homes at September month end

-          5,739 homes came onto the market

-          4,692 homes went under contract

-          4,471 homes closed

-          Median sold price $347,000

-          Average sold price $397,011

-          Closed dollar volume of $1.775 Billion. 



Monthly Market Recap:



Single Family:                                                                       

Active Inventory is 5,515                                                     

Sold Homes is 3,153                                                                          

Average Price is $442,750                                         

Median Price is $380,000                                          

Average Days on Market is 31                                                          



Condo:

Active Inventory is 1,528

Sold Homes is 1,318

Average Price is $287,590

Median Price is $245,000

Average Days on Market is 32



Year To Date Market Recap:



Single Family:                                                                       

Sold Homes is 28,384                                                            

Average Sold Price is $441,974                                            

Median Sold Price is $380,000                                  

Average Days on Market is 32                                  



Condo:

Sold Homes is 11,335

Average Sold Price is $286,320

Median Sold Price is $238,000

Average Days on Market is 31

Market Facts:



Fall is here and we are seeing the traditional seasonal slowdown in the Denver Metro home market even though it continues to be a destination market and is currently ranked the third hottest home market in the country.  Appraisals are increasing in price, now taking longer time frames, and thus impacting closing dates.  Mortgage interest rates continue to remain low, but may rise soon.  New homes continue to take a long time.  As always, be prepared.



Advice to Sellers:



There is every indication that the Denver home market will see the hottest fall in a decade.  Again it is time as a Seller to continue to focus on the following six (6) items:  (1) stage the yard, (2) clean, clean, clean, (3) remodel or upgrade, (4) de-clutter and stage your home, (5) use professional photographs and videos, and (6) price effectively.  Always remember that as a Seller you need to leave a great lasting impression on all Buyers when they are shown your home.



As a Seller in the current home market, you need to be aware of: (1) appraisals are now taking more time to complete, (2) Buyers are becoming more focused on smart homes, and (3) healthy homes are now a new priority.  Interest rate increases will impact the home market.



Seller preparation includes a good pricing comparison analysis, instructions on staging, what are the top improvements and a conversation on how the market functions.  As such, the homeowner looking to sell a home needs a professional who is a local expert, knowledgeable, and can assist in the Professional plan to sell one’s home.  Now is the time to reach out to a Professional.



Advice to Buyers:



There is every indication that Buyers will see the hottest fall in a decade.  What this means is that the Denver home market will continue to show seasonal signs of leveling off and Buyers will see a slowdown of activity; but, overall the home market will continue to be a destination and a top hot market.  Be prepared to act quickly, create your home buying plan, and stick to it.



Home pricing will remain constant with little or no price appreciation.  Even though mortgage interest rates remain low today, there is every indication that mortgage interest rates will increase in the near future.  What this means is that with an increase, Buyers will be able to borrow less than currently.



Know what you want in a home, where you want to live, and what price range you can afford.  Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home.  Be prepared, manage your expectations, and be open to looking at the entire Denver market.  Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.




Monday, September 26, 2016

RE/MAX National Housing Report September 2016

RE/MAX National Housing Report September 2016

Michael Kozlowski #1 Agent at RE/MAX Professionals 3 Years in a Row!

Check us out: http://www.team-koz.com/





Thursday, September 15, 2016

Denver Real Estate Market Update September 2016


7 COUNTY METROPOLITAN DENVER MARKET UPDATE

SEPTEMBER, 2016



By the numbers:

-          The inventory of available homes for sale is 6,722 homes at August month end

-          6,169 homes came onto the market

-          5,350 homes went under contract

-          5,151 homes closed

-          Median sold price $350,000

-          Average sold price $401,168

-          Closed dollar volume of $2.07 Billion. 



Monthly Market Recap:



Single Family:                                                                       

Active Inventory is 5,281                                                      

Sold Homes is 3,685                                                                          

Average Price is $446,596                                         

Median Price is $380,000                                          

Average Days on Market is 28                                                          



Condo:

Active Inventory is 1,441

Sold Homes is 1,466

Average Price is $286,978

Median Price is $241,750

Average Days on Market is 25



Year To Date Market Recap:



Single Family:                                                                       

Sold Homes is 25,123                                                            

Average Sold Price is $442,074                                            

Median Sold Price is $380,000                                  

Average Days on Market is 32                                  



Condo:

Sold Homes is 9,956

Average Sold Price is $286,217

Median Sold Price is $237,500

Average Days on Market is 31

The Denver Metro home market continues to be a destination market and is currently ranked the third hottest home market in the country.  August is now a month of seasonality as the school season has started and even though buyers are still in the market, overall activity has slowed.    Appraisals are now taking longer time frames and thus impacting closing dates.  Mortgage interest rates continue to remain low, but may rise soon.  As always, be prepared.





Advice to Sellers:



With the number of active listings and the number of homes sold lower than in the prior month, the Denver home market is entering the fall season.  It is time as a Seller to continue to focus on the following six (6) items:  (1) stage the yard, (2) clean, clean, clean, (3) remodel or upgrade, (4) de-clutter and stage your home, (5) use professional photographs and videos, and (6) price effectively.  Always remember that as a Seller you need to leave a great lasting impression on all Buyers when they are shown your home.



As a Seller in the current home market, you need to be aware of: (1) appraisals are now taking more time to complete, (2) Buyers are becoming more focused on smart homes, and (3) healthy homes are now a new priority.



Seller preparation includes a good pricing comparison analysis, instructions on staging, what are the top improvements and a conversation on how the market functions.  As such, the homeowner looking to sell a home needs a professional who is an expert and can assist in the Professional plan to sell one’s home.  Now is the time to reach out to a Professional.



Advice to Buyers:



The Denver home market continued to show signs of leveling off and preparing for the upcoming fall season.  We will see a slowdown of activity; but, overall the home market will continue to be a destination and a top hot market.  Be prepared to act quickly, create your home buying plan, and stick to it.



Even though mortgage interest rates remain low today and the wave of refinancing continues to increase, there is every indication that mortgage interest rates will increase in the near future.  What this means is that with an increase, Buyers will be able to borrow less than currently.



Know what you want in a home, where you want to live, and what price range you can afford.  Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home.  Be prepared, manage your expectations, and be open to looking at the entire Denver market.  Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.




Saturday, August 27, 2016

RE/MAX National Housing Report August 2016

RE/MAX National Housing Report August 2016

Michael Kozlowski #1 Agent at RE/MAX Professionals 3 Years in a Row!

Check us out: http://www.team-koz.com/





Monday, August 22, 2016

Denver Real Estate Market Report August 2016

Denver Real Estate Market Report August 2016

Michael Kozlowski #1 Agent at RE/MAX Professionals 3 Years in a Row!

Check us out: http://www.team-koz.com/



Sunday, August 21, 2016

Denver Real Estate Market Update August 2016


7 COUNTY METROPOLITAN DENVER MARKET UPDATE

AUGUST, 2016



By the numbers, the inventory of available homes for sale is:



-          6,858 homes at July month end

-          6,449 homes came onto the market

-          5,158 homes went under contract

-          4,942 homes closed

-          Median sold price $350,000

-          Average sold price $408,372

-          Closed dollar volume of $2.02 Billion. 



Monthly Market Recap:



Single Family:                                                                       

Active Inventory is 5,413                                                      

Sold Homes is 3,542                                                                          

Average Price is $457,388                                         

Median Price is $388,000                                          

Average Days on Market is 25                                                          



Condo:

Active Inventory is 1,445

Sold Homes is 1,400

Average Price is $284,361

Median Price is $242,000

Average Days on Market is 22



Year To Date Market Recap:



Single Family:                                                                       

Sold Homes is 21,329                                                

Average Sold Price is $441,675                                            

Median Sold Price is $380,000                                  

Average Days on Market is 33                                  



Condo:

Sold Homes is 9,076  

Average Sold Price is $286,074

Median Sold Price is $236,400

Average Days on Market is 32

Market Facts:



The July home market changed from June.  July is now the month most popular for vacations and active listings stay on the market longer due to less focus on the home hunt and more focus on family time, birthdays, etc.  Multiple offers have slowed down and the July showings have decreased.  Appraisers are now impacting closing dates.  Mortgage interest rates continue to remain low.  New home builders are changing their products.  As always, be prepared.



Advice to Sellers:



The Denver Seller’s market is showing a slowdown in July and Buyer’s were more focused on vacations and family activities.  With sales slowing and the inventory of active listings reaching its seasonal peak, the Denver home market is changing.  It is time as a Seller to focus on the following six (6) items:  (1) stage the yard, (2) clean, clean, clean, (3) remodel or upgrade, (4) de-clutter and stage your home, (5) use professional photographs and videos, and (6) price effectively.  Always remember that as a Seller you need to leave a great lasting impression on all Buyers when they are shown your home.  Home builders are now changing their product line; so, this may be new competition.



The Denver home market is seeing a decrease in showings, fewer multiple offers, and buyers who are cognizant of the market change.  Yes, buyers want to own a home; but with more homes available on the market, they are looking at all active listings within their home choices.



 Seller preparation includes a good pricing comparison analysis, instructions on staging, what are the top improvements, introduction to a net sheet to understand the bottom line, and a conversation on how the market functions.  As such, the homeowner looking to sell a home needs a professional who is a local expert, is hyper local market knowledgeable, and can assist in the Professional plan to sell one’s home.



Advice to Buyers:



The Denver home market currently feels slightly more balanced in certain areas.  July was a month that saw fewer Buyers in the market due to vacations and other family activities.  In most cases school districts have now started the new season.  Be prepared to act quickly, create your home buying plan, and stick to it.



A review of recent articles and blogs indicate that the mortgage interest rates may increase, so Buyers should find out how much they can borrow with these proposed changes.



Know what you want in a home, where you want to live, and what price range you can afford.  Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home.  Be prepared, manage your expectations, and be open to looking at the entire Denver market.  Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.


Friday, July 15, 2016

Denver Real Estate Market Update July 2016


7 COUNTY METROPOLITAN DENVER MARKET UPDATE

JULY, 2016



By the numbers:



-          The inventory of available homes for sale is 6,234 homes at June month end

-          7,195 homes came onto the market

-          5,341 homes went under contract

-          5,294 homes closed

-          Median sold price $362,000

-          Average sold price $416,112

-          Closed dollar volume $2.2 Billion 



Monthly Market Recap:



Single Family:                                                                       

Active Inventory is 4,930                                                      

Sold Homes is 3,905                                                                          

Average Price is $460,610                                         

Median Price is $395,000                                          

Average Days on Market is 24                                                          



Condo:

Active Inventory is 1,304

Sold Homes is 1,389

Average Price is $291,013

Median Price is $247,500

Average Days on Market is 27



Year To Date Market Recap:



Single Family:                                                                       

Sold Homes is 17,686                                                            

Average Sold Price is $438,598                                            

Median Sold Price is $380,000                                  

Average Days on Market is 34                                  



Condo:

Sold Homes is 7,015

Average Sold Price is $286,462

Median Sold Price is $235,000

Average Days on Market is 34

Market Facts:



Overall, June was a record setting month in the areas of month end active listings, new listings, average and median sold price, and number of properties sold.  June also saw an increase in the number of homes coming back onto the market after being under contract.  Mortgage interest rates have fallen due to the “BREXIT” activity.  Multiple offers, bidding wars, and appraisal and inspection issues continue to impact the home market.  As always, be prepared.





Advice to Sellers:



The Denver Seller’s market continues and Buyer’s are remaining in the market.  As a Seller, you pretty much know what Buyer’s are looking for and you know that you have to create a grand finale which will leave a lasting impression as you are offering your home for sale.  Are you aware that Buyer’s are now looking for “Smart Homes”?  Smart homes are energy efficient and convenient.  Smart homes now have new thermostats, lighting control, appliance automation, and security.  Is your home a Smart Home?



Many 2016 records were set in June; but, we need to be aware that BREXIT may have some impact on our home market in the coming months which will impact international buyers.



Be aware that after Smart Homes, the next new focus item will be Healthy Homes.



Seller preparation includes a good pricing comparison analysis, instructions on staging, what are the top improvements, and a conversation on how the market functions.  As such, the homeowner looking to sell a home needs a professional who is a local expert and can assist in the Professional plan to sell one’s home.  Now is the time to reach out to a Professional.



Advice to Buyers:



The Denver home market continues to be a Seller’s market even though the number of active listings increased in June.  Creativity remains with multiple offers, bidding opportunities, and price appreciation.  Similar to the above comments, be prepared to act quickly.  Create your home buying plan and stick to it.



A recent survey for Home Buyers stated that a Buyer should find out how much you can borrow, do your research, do not settle for the first home you see, and never underestimate the knowledge of Mom and Dad.



Know what you want in a home, where you want to live, and what price range you can afford.  Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home.  Be prepared, manage your expectations, and be open to looking at the entire Denver market.  Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.




Tuesday, July 5, 2016

Denver Real Estate Market Report June 2016

Denver Real Estate Market Report June 2016

Michael Kozlowski #1 Agent at RE/MAX Professionals 3 Years in a Row!

Check us out: http://www.team-koz.com/


Thursday, June 30, 2016

Denver Real Estate Market Update June 2016


Denver Real Estate Market Update May 2016

Michael Kozlowski #1 Agent at RE/MAX Professionals 3 Years in a Row!

Check us out: http://www.team-koz.com/

7 COUNTY METROPOLITAN DENVER MARKET UPDATE
JUNE, 2016

By the numbers:

- The inventory of available homes for sale is 5,039 homes at May month end
- 6,450 homes came onto the market
- 5,599 homes went under contract
- 4,792 homes closed
- Median sold price $360,000
- Average sold price $408,286
- Closed dollar volume $1.96 Billion.

Monthly Market Recap:

Single Family:
Active Inventory is 3,920
Sold Homes is 3,432
Average Price is $452,134
Median Price is $394,047
Average Days on Market is 28

Condo:
Active Inventory is 1,119
Sold Homes is 1,360
Average Price is $297,636
Median Price is $244,000
Average Days on Market is 29

Year To Date Market Recap:

Single Family:
Sold Homes is 13,646
Average Sold Price is $432,781
Median Sold Price is $375,000
Average Days on Market is 37

Condo:
Sold Homes is 5,566
Average Sold Price is $285,392
Median Sold Price is $234,000
Average Days on Market is 35
Market Facts:

School is out and more Buyers are in the market with a goal to be in their new home before the start of the fall school season. Buyer demand continues to outpace the homes available for sale. This is the prime home buying season and we are seeing record price appreciation. Multiple offers, bidding wars, and appraisal and inspection issues continue to impact the home market. Sellers should have their home ready to sell. As always, be prepared.

Advice to Sellers:

Denver continues to be a destination home market and the Denver home market is a Seller’s market, is strong, is healthy, and Buyer demand is greater than the number of homes for sale. As a Seller, you must know your home’s value and then have it listed at the right price. The Denver home market continues to be creative. Be prepared for multiple offers, bidding opportunities, and requests for incentives. Manage your expectations, be flexible, be civil, and accept the offer that works best for you the Seller.

Seller Alert: Wire fraud is on the rise in home selling transactions.

Seller preparation includes a good pricing comparison analysis, instructions on staging, what are the top improvements and a conversation on how the market functions. As such, the homeowner looking to sell a home needs a professional who is a local expert and can assist in the Professional plan to sell one’s home.

Advice to Buyers:

School is out. More Buyers are in the market today. Most Buyers probably want to be in their new home before for the start of the fall school season. The Denver home market continues to be creative with multiple offers, bidding opportunities, and price appreciation. Similar to the above comments, be prepared to act quickly. Be aware that Sellers are becoming concerned with Buyers who make a competitive offer, get the home under contract, and later terminate the contract. Buyers should give consideration to be in a secondary position on a home because the market is seeing an increase of contract terminations. Create your home buying plan and stick to it.

Buyer alert: Wire fraud is on the rise for home purchase transactions.

Know what you want in a home, where you want to live, and what price range you can afford. Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home. Be prepared, manage your expectations, and be open to looking at the entire Denver market. Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.