Latest News: Market Conditions
March 2023 Market Update
The end of March marks the beginning of spring for the Denver Metro market, so where do we stand? At month’s end, listings were up 19.53%, and closed homes were up 32.29% month over month. This increased activity has brought
February 2023 Market Update
After a chilly January, February in Denver saw both the weather and the market heat up. While mortgage rates remain a significant factor, homes are still selling as rates change. Higher rates have trained buyers to be incredibly discerning, but
January 2023 Market Update
January in Denver, we saw many classic signs of the real estate market reawakening, with new listings up 65.20% and pending listings up 50.61%. Still, those worried about a runaway seller’s market have some hope. Considering year-over-year data, January was
2022 Market Update
The Denver real estate market in 2022 told two contrasting stories; the late winter and spring had continued the frenetic and competitive pace of the last two years in response to historically low-interest rates. Buyers often waived all or some
November 2022 Market Update
Even as buyers and sellers continue to have confidence in the value of Denver homes, inventory and interest rates have undeniable influences. The economic shifts in 2022 completely upended the pace of the Denver market. Inventory jumped 178.16% from 2,248
October 2022 Market Update
The current marketplace is giving buyers what was basically unheard of in the last couple of years; time. This fall, we are feeling the seasonality of the Denver market like we haven’t since 2019. By considering both the month-to-month, and
September 2022 Market Update
The Denver market is a classic example of supply and demand. After years of unsustainable demand, interest rates have made many buyers take pause. The pause means there are 7,683 active listings in Denver with an average of 26 days
August 2022 Market Update
In what felt like a blink of an eye, we find ourselves on the fall side of summer. As with many Augusts, we saw a seasonal shift in the Denver Metro market in addition to rising interest rates. Inventory is
July 2022 Market Update
It is important to differentiate between a recession and a slow down in the real estate market. While inventory is up 21.5% from June and 81% from July 2021. Active listings are still 21% lower than in 2019. Interestingly enough
June 2022 Market Update
June brought what we’ve all been waiting for, inventory. Active inventory ticked over 6,000 units and for the first time since June of 2020, there is more than one month’s inventory available. Denver is still a ways off from being
Market Update May 2022
May in the Denver market brought an increase of average days on market, a slight dip in average closed price, and a jump of almost 14% in inventory. While these are all signs of the market moving toward becoming more
April 2022 Market Update
Spring is in full swing in Denver and while April saw a 44.26% uptick in inventory, it was quickly snapped up by eager Denver buyers. The average property was on the market for just 8 days in April. 6,881 new
March 2022 Market Update
While March finally saw an uptick in inventory, continued demand has finally pushed average home prices over $700,000 to $705,812 in the Denver Metro area. Month-end inventory was up 81%. This number sounds impressive, but resulted in only 995 more
February 2022 Market Update
As we look back at the statistics for February, inventory and demand continue to plague buyers in the Denver market. To give a better picture of the inventory situation, consider that the record-high for February was in 2006 with 25,484,
January 2022 Market Update
After a lull over the holiday season, the Denver housing market generally sees about a 70 percent increase in new inventory in January. This January the Denver market only saw a 31 percent increase. While these numbers can be attributed
Where are 2022 Interest Rates Headed?
As 2022 kicks off with record-low inventory and increasing interest rates, we reached out to Erik Henderson, a Branch Manager and Loan Officer at Northpoint Bank, to get some insight on where he sees rates headed this year and what
December 2021 Market Update
As we look back on the final numbers for December and reflect on 2021 as a whole, a few trends stick out. 2021 was a strong seller’s market. This was due in part to record-low inventory levels combined with a
November 2021 Market Update
The snow is finally falling, but the real estate market in Denver hasn’t quite cooled down yet. Buyers are looking to find homes while interest rates are still low, so sellers are still seeing multiple offer situations and record-high sales
October Market Update
While no all-time records were broken this October, just about every October record was broken. This October featured the least amount of listings, the highest average close price, and the lowest days on the market of any October on record.
What Happened with Zillow? A Realtor’s Perspective
It all started with the Zestimate. Launched in 2006, Zillow created an algorithm that they believed accurately predicted a home’s value based on comparable neighborhood sales. In the next few years, millions of people used Zillow as a resource for
September 2021 Market Update
As the fall chill blew through Denver this September, it did nothing to cool down the market. After the inventory lull in August, the moderate increase in September inventory felt significant and gave buyers more options. The number of closed
August 2021 Market Update
Seasonality is always a factor in the real estate market. This transition season between summer and fall, had a lot of buyers sitting August out. Many Denverites took advantage of a final summer vacation and almost all school-aged kids prepared
July Market Update
At first glance, the July numbers suggest a cooling market, but in a broader context, buyer competition doesn’t look to be letting up quite yet. Inventory ticked up this month, but it was still the lowest inventory for July on
June Market Update
We generally see the peak of the busy season in June. 2021 was no different. Denver saw record-breaking stats for the number of closings, average close price, and new listings. The June inventory increased 50.46% over last month. For reference,
May Market Update
As spring turns to summer, the real estate market in Denver continues to be competitive for buyers. This year, for the first time in 13 years, the inventory at the end of May was actually less than the beginning of