Wednesday, May 30, 2012
Tuesday, May 15, 2012
Saturday, May 12, 2012
Denver Real Estate Market Update May 2012
GREATER METROPOLITAN DENVER MARKET UPDATE
MAY, 2012
Market Metrics:
With April, the preview month of the prime home selling/buying season, behind us, what an amazing home market. The inventory of homes for sale remains relatively stable at 10,254 homes available on the market.
The limited inventory comes as more buyers are shopping for homes, driving prices up, and multiple offers becoming the norm. We are starting to see a steady price appreciation. Denver is now considered one of the strongest markets in the country.
Monthly Market Recap:
Single Family:
Active Inventory is 8,353 units at month end
Sold units is 3,133
Average Days on Market is 90
Median Sold Price is $249,900
Average Sold Price is $298,712
Condos:
Active Inventory is 1,901 units at month end
Sold units is 758
Average Days on Market is 91
Median Sold Price is $142,000
Average Sold Price is $178,231
April Year-to-Date Market Recap (2012 versus 2011):
Single Family:
Active Inventory 8,353 versus 13,874 (↓40%)
Sold Units 9,879 versus 8,756 (↑13%)
Median Price $233,000 vs $221,000 (↑5%)
Average Price $283,682 vs $272,339 (↑4%)
Sales Volume $2.8B versus $2.4B (↑18%)
Days on Market 100 versus 116 (↓14%)
Condos:
Active Inventory 1,901 versus 3,973 (↓52%)
Sold Units 2,452 versus 2,267 (↑8%)
Median Price $128,000 vs $120,000 (↑7%)
Average Price $163,787 vs $156,709 (↑5%)
Sales Volume $402M versus $355M (↑13%)
Days on Market 98 versus 125 (↓22%)
APRIL, 2012 YTD HOME TRENDS:
The top three price ranges for sold Single Family homes are:
(1) $100,000 to $199,999
(2) $200,000 to $299,999
(3) $300,000 to $399,999
The top three price ranges for sold Condo homes are:
(1) $100,000 to $199,999
(2) $0 to $99,999
(3) $200,000 to $299,999
Advice to Sellers:
The national home ownership rate reached a decade low of 62%, down from 73% in 2006 and 2007. Much of the decline is the result of the economy, foreclosures, job losses, fallen home values, and more. Americans continue the thirst for home ownership and in a recent survey over 70% of the respondents desire home ownership and also feel that now is a good time to buy.
The inventory of homes for sale remains low and the number of buyers increases daily. Now is the time to make sure the home is ready to be on the market. Do your homework, check out the competition, take care of all deferred maintenance items, and remodel as necessary.
Sellers can improve their chances of getting a house sold by sprucing up the inside and out such that the home will create that lasting first impression.
Is it a good time for your home to be on the market? As Real Estate is local, contact your RE/MAX Professional to discuss the options available to sell your home during 2012.
Advice to Buyers:
By the numbers, there are 10,200 plus homes available for sale, 5,600 offers were extended and accepted by both the seller and the buyer in April, and 3,100 homes closed in April. Why are things getting so competitive? The inventory of homes available for sale last April was 18,000 homes. The drastic decrease in the number of homes for sale is leaving home buyers with fewer options sometimes resulting in bidding competition.
Now is the time for the Buyer to be prepared. 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. Additionally, a buyer should consider zoning and remodeling rules when looking to purchase a home.
Friday, May 11, 2012
Thursday, May 10, 2012
Thursday, May 3, 2012
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.