Saturday, April 21, 2012
Wednesday, April 18, 2012
Friday, April 13, 2012
Denver Real Estate Market Update April 2012
Market Metrics:
March was the month of “UP” in the Denver home market. While the inventory of homes for sale remained relatively stable, everything else was “UP” and the strength of the Denver home market continues to show its recovery. All indications are that this will be a strong year for the Denver home market. We are only weeks away from the start of the prime home selling/buying season.
Monthly Market Recap:
Single Family:
Active Inventory is 8,303 units at month end
Sold units is 2,775
Average Days on Market is 105
Median Sold Price is $232,500
Average Sold Price is $284,035
Condos:
Active Inventory is 2,022 units at month end
Sold units is 700
Average Days on Market is 97
Median Sold Price is $125,500
Average Sold Price is $161,848
March Year-to-Date Market Recap (2012 versus 2011):
Single Family:
Active Inventory 8,303 versus 13,712 (↓39%)
Sold Units 6,746 versus 6,021 (↑12%)
Median Price $225,000 vs $220,000 (↑2%)
Average Price $276,702 vs $272,507 (↑2%)
Sales Volume $1.9B versus $1.6B (↑14%)
Days on Market 105 versus 120 (↓13%)
Condos:
Active Inventory 2,022 versus 3,995 (↓49%)
Sold Units 1,694 versus 1,573 (↑8%)
Median Price $120,000 vs $121,905 (↓2%)
Average Price $157,324 vs $155,946 (↑1%)
Sales Volume $267M versus $245M (↑8%)
Days on Market 101 versus 129 (↓22%)
MARCH, 2012 YTD HOME TRENDS:
The top four price ranges for sold Single Family homes are:
(1) $200,000 to $299,999
(2) $300,000 to $499,999
(3) $150,000 to $199,999
(4) $110,000 to $149,999.
The top three methods of financing a home purchase are:
(1) Conventional financing
(2) FHA financing
(3) Cash
Advice to Sellers:
The Denver home market is weeks away from the prime home selling/buying time of the year. It is time to take advantage of this prime home selling season and sell your home!
Establish your expectations as to home pricing, deferred maintenance needs, and the average amount of time required before your home can be sold. More and more prospective buyers rate Lifestyle as their top priority. With that being said, the prospective buyer is looking for a home that has everything they want and are not interested in doing renovation/home improvement after the purchase.
Sellers can improve their chances of getting a house sold by sprucing up the inside and out that will create that lasting first impression.
Iit is a great time for your home to be on the market!
Advice to Buyers:
One may ask “Does buying a home really make better sense than renting?” While the answer is personal, one should take into consideration the four non financial reasons people buy a home: buyers want a place to raise and educate their children, a place where their family will feel safe, to have plenty of living space, and to have control over the space. Home affordability has never been better.
In the market to purchase a home, here is a list of things to consider when preparing for homeownership: decide what you can afford, develop your home wish list, select where you want to live, start saving, get your credit in order, determine your mortgage qualifications, get preapproved, weigh the sources of your down payment, and calculate the costs of homeownership.
Want to learn more? www.team-koz.com or 303-949-2755
Friday, April 6, 2012
Friday, March 23, 2012
Tuesday, March 20, 2012
Denver Real Estate Market Update March 2012
GREATER METROPOLITAN DENVER MARKET UPDATE
MARCH, 2012
Market Metrics:
The market momentum that started January 1st by the release of pent up demand continues through February. This is another example that the metro Denver housing market took another step toward recovery. What does this mean to you individually? Activity is up and the inventory of unsold homes is down. Pricing today remains relatively stable.
Monthly Market Recap:
Single Family:
Active Inventory is 8,082 units at month end
Sold units is 1,978
Average Days on Market is 106
Median Sold Price is $220,000
Average Sold Price is $270,821
Condos:
Active Inventory is 2,004 units at month end
Sold units is 517
Average Days on Market is 101
Median Sold Price is $120,000
Average Sold Price is $161,143
February Year-to-Date Market Recap (2012 versus 2011):
Single Family:
Active Inventory 8,082 versus 13,393 (↓40%)
Sold Units 3,971 versus 3,494 (↑14%)
Median Price $219,900 vs $220,000 (↔)
Average Price $271,577 vs $271,516 (↔)
Sales Volume $1.0B versus $949M (↑14%)
Days on Market 105 versus 121 (↓13%)
Condos:
Active Inventory 2,004 versus 3,965 (↓50%)
Sold Units 994 versus 891 (↑12%)
Median Price $118,000 vs $120,475 (↓2%)
Average Price $154,137 vs $152,955 (↑1%)
Sales Volume $153M versus $136M (↑12%)
Days on Market 104 versus 126 (↓17%)
FEBRUARY, 2012 YTD HOMES SOLD BY PRICE RANGE:
The top four price ranges for sold Single Family homes are:
- (1) $200,000 to $299,999
- (2) $300,000 to $499,999
- (3) $150,000 to $199,999
- (4) $110,000 to $149,999.
The top four price ranges for sold Condo homes are:
- (1) $0 to $109,999
- (2) $110,000 to $149,999
- (3) $150,000 to $199,999
- (4) $200,000 to $299,999.
Advice to Sellers:
Thinking of putting your home on the market? Here are some things to consider:
- Have a pre sale home inspection completed so you have an indication of those areas that will stand out to potential buyers.
- Organize and clean by paring down the clutter, and cleaning the windows, carpets, walls, lighting fixtures, and baseboards.
- Get replacement estimates so you know the specifics before price negotiations begin.
- Find your warranties and manuals.
- Spruce up the curb appeal to create a lasting first impression.
- Consider staging the home. Buyers senses must be engaged using lighting, music, scents, and colors.
Sellers can improve their chances of getting a house sold by sprucing up the inside and out that will create that lasting first impression.
Advice to Buyers:
- In the market to purchase a home, here is a list of things to consider when preparing for homeownership:
- Decide what you can afford.
- Develop your home wish list.
- Select where you want to live.
- Start saving.
- Get your credit in order.
- Determine your mortgage qualifications.
- Get preapproved.
- Weigh the sources of your down payment.
- Calculate the costs of homeownership.
Thursday, March 8, 2012
Tuesday, March 6, 2012
Tuesday, February 28, 2012
Tuesday, February 21, 2012
Tuesday, February 14, 2012
Untitled
Denver Real Estate Inventory Drops Almost 40% in 1 Year!
Incredible Opportunity for Sellers...
GREATER METROPOLITAN DENVER MARKET UPDATE
Market Metrics:
At January month end, the inventory of active listings, those homes for sale, represented only 3.3 months of supply of homes on the market. Home showings increased dramatically and offers were extended as a result of the pent up buyer demand. While January is traditionally slower than December, the numbers show increased activity when comparing year over year.
Monthly Market Recap:
Single Family:
Active Inventory is 8,356 units at month end
Sold units is 1,993
Average Days on Market is 103
Median Sold Price is $218,855
Average Sold Price is $272,328
Condos:
Active Inventory is 2,087 units at month end
Sold units is 477
Average Days on Market is 108
Median Sold Price is $113,000
Average Sold Price is $146,544
January Year-to-Date Market Recap (2012 versus 2011):
Single Family:
Active Inventory 8,356 versus 13,714 (↓39%)
Sold Units 1,993 versus 1,724 (↑16%)
Median Price $218,855 vs $225,000 (↓3%)
Average Price $272,328 vs $277,922 (↓2%)
Sales Volume $542M versus $479M (↑13%)
Days on Market 103 versus 120 (↓14%)
Condos:
Active Inventory 2,087 versus 4,176 (↓50%)
Sold Units 477 versus 432 (↑10%)
Median Price $113,000 vs $124,995 (↓10%)
Average Price $146,544 vs $150,085 (↓2%)
Sales Volume $69M versus $64M (↑8%)
Days on Market 108 versus 123 (↓12%)
December 2011 YTD County Sold Data:
The top five metropolitan counties based upon closed homes in 2011 are:
(1) Denver County
(2) Arapahoe County
(3) Jefferson County
(4) Adams County
(5) Douglas County.
The top four price ranges for sold homes based on closed transactions are:
(1) $100,000 to $199,999
(2) $200,000 to $299,999
(3) $300,000 to $499,999
(4) $0 to $99,999.
Advice to Sellers:
The inventory of Active Listings, those homes for sale, continues to decrease. Historically, this would indicate a seller’s market. This is not the case, because prospective buyers have wants and needs that they will not compromise. So what is a seller to do?
Overall, buyers have big dreams for their new home. Buyers are looking for style upgrades on counter tops, flooring, faucets, and fixtures. The utility look that started several years ago in kitchen is now spreading to the entire home. Big on the wish list are separate laundry rooms, spacious built-ins, and a place to maximize storage.
In two words the seller must de-clutter and stage a home. Make sure each room has a focal point. Here are 4 quick tips for prepping a home:
(1) make sure home is super clean
(2) clear the clutter and unload some furniture
(3) prep your landscaping and
(4) add new touches everywhere if possible
Is it a great time for your home to be on the market!
Advice to Buyers:
With the number of active listings, those homes available for sale, continuing to be the lowest it has been in years, a prospective buyer must prioritize one’s needs and wants and look at what is available in the market. Rents continue to rise in the Denver market and home prices continue to stabilize.
The Colorado Division of Housing recently reported that the metro area had only a 5.4% vacancy rate and that the median rent was now $870. Vacancy rates have moved down and the area’s median rent has risen for the last eight quarters. Home affordability has never been higher in the Denver metro area.
Talk to your RE/MAX Professional today about your Lifestyle preferences, the benefits of home ownership, and home affordability.
Monday, February 13, 2012
Wednesday, February 8, 2012
10529 Dacre Place Lone Tree CO 80124
Rare Opportunity 1/3 Acre Lot! Panoramic Mountain Views! Cul-de-Sac! Great Lone Tree Location.
Tuesday, February 7, 2012
Tuesday, January 31, 2012
Friday, January 27, 2012
Wednesday, January 25, 2012
Monday, January 23, 2012
Friday, January 20, 2012
Wednesday, January 18, 2012
Monday, January 16, 2012
Sunday, January 15, 2012
Denver Real Estate Market Update January 2012
GREATER METROPOLITAN DENVER MARKET UPDATE
JANUARY, 2012
Market Metrics:
Active Listings inventory continues to decline, 13% month over month and 40% year over year. Under Contract activity and Closed transactions activity remained seasonal with a continual decline month over month. The New Year starts with renewed hope that 2012 will be better than 2011. Wishing you and yours a Happy and Prosperous New Year.
Single Family:
Active Inventory is only 8,854 units at month end
Sold units is 2,531
Average Days on Market is 107
Median Sold Price is $230,000
Average Sold Price is $275,610
Condos:
Active Inventory is only 2,139 units at month end
Sold units is 625
Average Days on Market is 106
Median Sold Price is $120,700
Average Sold Price is $166,420
December Year-to-Date Market Recap (2011 versus 2010):
Single Family:
Active Inventory 8,854 versus 13,941 (↓36%)
Sold Units 31,437 versus 30,777 (↑2%)
Median Price $230,000 vs $235,000 (↓2%)
Average Price $279,858 vs $282,080 (↓1%)
Sales Volume $8.8B versus $8.7B (↑1%)
Days on Market 105 versus 90 (↑17%)
Condos:
Active Inventory 2,139 versus 4,316 (↓50%)
Sold Units 7,950 versus 8,041 (↓1%)
Median Price $124,900 vs $136,000 (↓8%)
Average Price $159,141 vs $161,005 (↓1%)
Sales Volume $1.2B versus $1.3B (↓2%)
Days on Market 116 versus 98 (↑18%)
Days on Market:
By definition, Days on Market is calculated as the number of elapsed days from the original listing date to the status change date. Therefore if a home is listed for sale on January 2nd and the seller(s) accept an offer on January 22nd, the Days on Market for this property is 21 days at this point in time.
Days on Market is one of several metrics that are used to follow the market trends.
Advice to Sellers:
Welcome to 2012. What changes can one expect in 2012?
The year will start with the lowest inventory of unsold homes in a decade plus.
New home builders will have new models emphasizing efficiency, lifestyle, and a smaller footprint. For some sellers, this will be competition that has not been seen for several years.
External influences will continue to impact the market; such as, employment, economy, and consumer confidence.
As a home seller, one must keep in mind that with the beginning of 2012:
- - Housing will be on the minds of many, because lots of people will be seeking housing.
- - Rising rental rates will cause more to look at home ownership.
- - Low rental vacancy rates will cause more to look at home ownership.
- - Historically low mortgage rates will cause more to look at home ownership.
- - Overall, affordable housing prices will cause more to look at home ownership.
It is a great time for your home to be on the market with inventory levels at 10 year lows!
Advice to Buyers:
The number of active listings, those homes available for sale, continues to be the lowest it has been in years. Prioritize your needs and wants and look at what is available in the market.
Rents continue to rise in the Denver market and home prices continue to stabilize.
Talk to your RE/MAX Professional today about your Lifestyle preferences, the benefits of home ownership, and home affordability.
Saturday, January 14, 2012
Thursday, January 12, 2012
Tuesday, January 10, 2012
Saturday, January 7, 2012
Denver Real Estate Inventory Drops 37% since 2011! Incredible Opportunity for Sellers!
Denver Real Estate Inventory Drops 37% since 2011!
Incredible Opportunity for Sellers!
Great news! The latest statistics and Supply vs Demand are attached.
The months supply of inventory has decreased substantially as the number of homes on the market is down 37% from 2011.
The Denver Real Estate Market started January 2011 with 13,900 Single Family Homes, and as of January 1, 2012 we had only 8,800! Wow!
We are at or below 6 months of inventory in most areas all the way to approximately $400,000. The Odds of Selling has increased a great deal as you will see that we don’t dip to a 50% chance of selling until approximately $750,000 in most areas!
Don't miss your opportunity!
Friday, January 6, 2012
Thursday, January 5, 2012
Saturday, December 24, 2011
Denver Real Estate Market Update December 2011
Market Metrics:
The inventory of active listings at November month end hit another new low at
12,634 units, a decline of 11% month over month and 37% year over year.
Buyer demand continues at a seasonally adjusted rate for the holiday season. Declining inventory could become a good news situation.
Monthly Market Recap:
Single Family:
Active Inventory is 10,213 units at month end
Sold units is 2,468
Average Days on Market is 99
Median Sold Price is $230,300
Average Sold Price is $275,951
Condos:
Active Inventory is 2,421 units at month end
Sold units is 600
Average Days on Market is 105
Median Sold Price is $125,000
Average Sold Price is $153,526
November Year-to-Date Market Recap (2011 versus 2010):
Single Family:
Active Inventory 10,213 versus 15,232 (↓33%)
Sold Units 28,906 versus 28,355 (↑2%)
Median Price $229,900 vs $230,250 (↔)
Average Price $280,230 vs $282,717 (↓1%)
Sales Volume $8.1B versus $8.0B (↑1%)
Days on Market 105 versus 89 (↑18%)
Condos:
Active Inventory 2,421 versus 4,649 (↓48%)
Sold Units 7,325 versus 7,439 (↓2%)
Median Price $125,000 vs $133,000 (↓6%)
Average Price $158,520 vs $160,533 (↓1%)
Sales Volume $1.1B versus $1.1B (↔)
Days on Market 117 versus 95 (↑23%)
Average Price versus Median Price:
By definition, Average price is derived by adding all of the individual home sales prices to get a total sales volume ($) for the period. The total sales volume ($) is then divided by the number of sales transactions which results in the Average Price.
By definition, Median Price is derived by ranking the highest individual home sales price to the lowest individual home sales price. The point where one half of the transactions are either above or below this price is known as the Median Price.
Advice to Sellers:
The holiday season is upon us and traditionally the home owner takes his or her home off the market due to the holiday season, busy schedules, and personal or family time. One must ask if the holiday season is a good time to sell.
In a recent survey conducted by the National Association of Realtors®, 60% of Real Estate Professionals advise sellers to list a home during the holidays unless they have a preferred strategy going into the new year. The holiday season brings out more serious buyers, the inventory of active listings is low and thus the competition from other properties is less, and cold weather is a benefit in making the home feel cozy.
If you do have your home on the market for the holiday season, you need to keep two items in mind. One point is that the home must be kept in “ready to show” condition and the second point is that more interior photos are needed for marketing to prospective Buyers.
Advice to Buyers:
The number of active listings, those homes available for sale, is the lowest it has been in years and here we are at the holiday season. Therefore the Buyers will have fewer homes to choose from. Traditionally Sellers take homes off the market for the holidays. If a home remains on the market over the holidays, you may have a motivated Seller. What does this mean to you? Talk to a RE/MAX Professional to obtain an understanding of the home market at the holiday season.
Rents continue to rise in the Denver market and home prices continue to stabilize.
Talk to your RE/MAX Professional today about your Lifestyle preferences, the benefits of home ownership, and home affordability.
Tuesday, December 20, 2011
Monday, December 19, 2011
Tuesday, December 13, 2011
Tuesday, November 29, 2011
Friday, November 18, 2011
Thursday, November 17, 2011
Denver Real Estate Market Update November 2011
GREATER METROPOLITAN DENVER MARKET UPDATE
NOVEMBER, 2011
Market Metrics:
The unsold inventory of active listings hit a new low at 14,156 units,
the second month in a row for setting a new low record.
As we are moving into new territory, there is steady demand and low inventory. When one compares our housing market to the nation, Denver continues to hold its own.
Monthly Market Recap:
Single Family:
Active Inventory is 11,504 units at month end
Sold units is 2,482
Average Days on Market is 102
Median Sold Price is $226,021
Average Sold Price is $269,503
Condos:
Active Inventory is 2,652 units at month end
Sold units is 701
Average Days on Market is 102
Median Sold Price is $125,000
Average Sold Price is $160,723
October Year-to-Date Market Recap (2011 versus 2010):
Single Family:
Active Inventory 11,504 versus 16,473 (↓30%)
Sold Units 26,438 versus 26,213 (↔)
Median Price $229,820 vs $230,000 (↔)
Average Price $280,629 vs $282,819 (↓1%)
Sales Volume $7.4B versus $7.4B (↔)
Days on Market 106 versus 87 (↑22%)
Condos:
Active Inventory 2,652 versus 4,887 (↓46%)
Sold Units 6,725 versus 6,915 (↓3%)
Median Price $125,000 vs $133,500 (↓6%)
Average Price $158,965 vs $160,186 (↓1%)
Sales Volume $1.0B versus $1.1B (↔)
Days on Market 118 versus 93 (↑27%)
With the holiday season upon us, we continue to see a steady demand for housing. At a time like this, one needs to take into consideration employment, consumer confidence, and mortgage interest rates. Mortgage interest rates continue to remain low. Consumer confidence continues to improve, albeit slow. Employment is a focus that is on everyone’s mind and definitely a conversation item on a daily basis.
Advice to Sellers:
Today’s home buyer is looking for his or her dream. What does this mean to you the home seller? Well first of all, the home buyer is looking for a home that meets 100% of the home buyer’s expectations. The home buyer wants to move into his or her new home and have to do nothing but enjoy the home.
Therefore, deferred maintenance needs to be non-existent. The usual list of maintenance items such as painting and carpeting now also include updating the entire home. Should you consider updating the bathrooms or the kitchen? Talk to your RE/MAX Professional about a cost benefit analysis of updates. Your RE/MAX Professional will be able to advise you on how much a buyer would be willing to pay for the updates in the purchase price of the home.
Learn the value of updates as they relate to the pricing of your home.
Advice to Buyers:
The number of active listings, those homes available for sale, continues to decreases. Caution is the theme, with caution rising along with the price point. What does this mean to you?
Manage your expectations by determining what you want in a home, what you can afford in a home, what are your lifestyle priorities, and does home ownership allow you to achieve your personal goal.
Monday, November 14, 2011
Wednesday, October 26, 2011
Tuesday, October 25, 2011
Tuesday, October 18, 2011
Denver Real Estate Market Update October 2011
GREATER METROPOLITAN DENVER MARKET UPDATE
OCTOBER, 2011
Market Metrics:
September historically marks the end of Denver’s prime home selling/buying market with seasonally adjusted transactions when comparing month over month. Of note is the fact that the month end inventory of active listings in total is 15,533 homes at month end. This is a new low for the last thirteen months and numbers that we have not seen since 2003.
Monthly Market Recap:
Single Family:
Active Inventory is 12,613 units at month end
Sold units is 2,610
Average Days on Market is 99
Median Sold Price is $229,804
Average Sold Price is $280,289
Condos:
Active Inventory is 2,920 units at month end
Sold units is 727
Average Days on Market is 127
Median Sold Price is $128,950
Average Sold Price is $159,980
September Year-to-Date Market Recap (2011 versus 2010):
Single Family:
Active Inventory 12,613 versus 17,625 (↓28%)
Sold Units 23,956 versus 23,933 (↔)
Median Price $229,970 vs $230,000 (↔)
Average Price $281,782 vs $282,416 (↔)
Sales Volume $6.8B versus $6.8B (↓1%)
Days on Market 106 versus 86 (↑23%)
Condos:
Active Inventory 2,920 versus 5,255 (↓44%)
Sold Units 6,024 versus 6,353 (↓5%)
Median Price $124,900 vs $134,000 (↓7%)
Average Price $158,761 vs $160,280 (↓1%)
Sales Volume $1.0B versus $0.9B (↓6%)
Days on Market 120 versus 91 (↑32%)
With the end of the prime home selling and home buying market for the Greater Metropolitan Denver area, what can one expect for the remaining months of 2011?
The Active Inventory count in units will continue to decrease as well as the monthly number of both under contract and closed transactions. This does not mean that the market has gone away or will go away; but, rather that the market continues in a seasonally adjusted basis.
With the extremely low inventory that we have not seen in years, homes that are on the market through Fall and Winter will have a greatly increased chance to sell!