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Nov. 3, 2017

Denver Market Update, November 3, 2017

The holidays are here. Thanksgiving is just two weeks away and there are only 6 weekends left before Christmas. You'll hear that the Real Estate market tends to slow down in the winter time, so let's take a look and see if the market has indeed slowed down.

Denver Metro Real Estate, All Ten Counties:

5,524 properties sold this month

  • This is up 3.5% from last month and 4% higher than October 2016.

$399,900 median sale price for Single Family Homes this month

  • This is down from the record $410,000 we saw in June, but it is up a strong 7.5% from October of last year.

$275,543 median sale price for Condos/Townhouses this month

  • This is up 3.0% from last month and is up a strong 12.5% from October 2016. This is just shy of the all time record of $278,000 that was set in June 2017.

8,931 active listings available this month

  • This is is very similar to last month, down about 9%, it's also down 17.5% from the 10,828 listings we saw in October 2016.

97.7% was the average sale price, relative to the original listing price this month

  • This is down 0.2% from what we saw last month and down about 0.1% from October 2016.

 

Summary: While we often hear that the market tends to slow this time of year, based on the numbers we see here, it would appear that the market is still pretty hot. We have seen a little slow down compared to our peak earlier this summer, but our agents are still seeing multiple offers on some properties. 

Denver City Limits:

1,089 properties sold this month

  • This is down 14.9% from last month and it is down about 13.2% from September of 2016 when we saw 1,274 homes close in Denver.

$415,000 median sale price for Single Family Homes this month

  • This is higher than last month, showing a increase of 4.9%, this shows an increase of 9.7% from this time last year. This is just shy of the record set in June 2017.

$350,000 median sale price for Condos/Townhouses this month

  • This is up 11.2% from last month and up 15.3% from September 2016. This represents a new record for Attached homes in Denver. The previous record was $347,500 set in April 2017

1,651 active listings available this month

  • This is 16% fewer listings than last month and 24.5% fewer listings than this time last year.

98% was the average sale price, relative to the original listing price this month

  • This is the same as we saw last month and is the same rate from this time last year.

 

Fun fact: While homes in Denver generally sell for more compared to the rest of the market, they actually take the same amount of time, on average, to sell as the rest of the market. Homes in Denver spend 23 days on the market on average. 

Luxury Market for The Metro Area (over $700,000):

498 properties sold this month

  • This is 16.9% higher than last month and an impressive 34.9% higher than October of 2016 where we saw 369 homes sell.

71 days was the average Days on Market this month

  • This is 2 days longer than last month and 9 days less than this time last year.  

5.4 "Months of Inventory" in October 2017

  • The number the pros watch most closely. We are starting to see a shift in the luxury market. This month's numbers indicate we are in a well balanced market. This means that the market does not favor either the buyer or the seller. 

$882,000 median sale price for Single Family Homes this month

  • Over the past year, this number has trended in the mid to upper $800's. This is slightly higher than what we saw last month. This is in-line with the overall trends in this price point, though it's a slight decrease from the recent peak of $927,500 this past January. Due to the generally low number of sales in the luxury segment compared to the market as a whole, we can see an artificial volatility with sale prices. The decrease in median sale price alone is not necessarily reflective of the change in the market. 

2,466 active listings available this month

  • This is down slightly from last month and up 10.2% from this time last year.

95.2% was the average sale price, relative to the original listing price this month

  • This is very much in line with historical trends for this time of year and given the current market shift. It represents a slight decrease from last month. It does suggest that buyers in this price range expect a little room for negotiation so it is imperative to price your house correctly the first time. 
Oct. 3, 2017

Denver Market Update, October 3rd, 2017

Fall is in full swing here in Colorado. The temperatures are dropping, the leaves are changing, and Christmas decorations are already bumping Halloween supplies off the shelves. As fall sets in, we tend to see the Real Estate Markets change with the seasons. Lets take an in-depth look at September's numbers. 

Denver Metro Real Estate, All Ten Counties:

5,524 properties sold this month

  • This is up down a little more than 12% from last month and 4.6% lower than September 2016.

$395,000 median sale price for Single Family Homes this month

  • This is down from the record $410,000 we saw in June, but it is up a strong 5.75% from September of last year.

$267,500 median sale price for Condos/Townhouses this month

  • This is down 2.7% from last month and is up a strong 10.3% from September 2016. The all time record of $278,000 was set in June 2017.

9,841 active listings available this month

  • This is is very similar to last month, down about 6%, it's also down 11.74% from the 11,151 listings we saw in September 2016.

97.5% was the average sale price, relative to the original listing price this month

  • This is down 2.5% from what we saw last month and down about 1% from September 2016.

 

Fun fact: This year has been a record setting year for the Denver Metro area. Despite what you might hear about how quickly homes are selling, the market average for the Denver Metro area shows it takes 23 to sell the average home. 

Denver City Limits:

1,106 properties sold this month

  • This is down 14.9% from last month and it is down about 13.2% from September of 2016 when we saw 1,274 homes close in Denver.

$415,000 median sale price for Single Family Homes this month

  • This is slightly lower than last month, showing a decrease of 2.3%, however this shows an increase of 9.2% from this time last year.

$310,000 median sale price for Condos/Townhouses this month

  • This is down 4.6% from last month and up 10.7% from September 2016. 

1,920 active listings available this month

  • This represents 17 fewer listings than last month and 264 fewer listings than this time last year.

98% was the average sale price, relative to the original listing price this month

  • This is down 0.7% from last month and down the same rate from this time last year.

 

Fun fact: While homes in Denver generally sell for more compared to the rest of the market, they actually take the same amount of time, on average, to sell as the rest of the market. Homes in Denver spend 23 days on the market on average. 

Luxury Market for The Metro Area (over $700,000):

426 properties sold this month

  • This is 16.6% lower than last month but an strong 17.7% higher than September of 2016 where we saw 362 homes sell.

65 days was the average Days on Market this month

  • This is about a week longer than last month and 1 day more than this time last year.  

6.3 "Months of Inventory" in August 2017

  • The number the pros watch most closely. We are starting to see a shift in the luxury market. This month's numbers indicate we are in a well balanced market. This means that the market does not favor either the buyer or the seller. 

$877,000 median sale price for Single Family Homes this month

  • Over the past year, this number has trended in the mid to upper $800's. This is slightly higher than what we saw last month. This is in-line with the overall trends in this price point, though it's a slight decrease from the recent peak of $927,500 this past January. Due to the generally low number of sales in the luxury segment compared to the market as a whole, we can see an artificial volatility with sale prices. The decrease in median sale price alone is not necessarily reflective of the change in the market. 

2,648 active listings available this month

  • This is down slightly from last month and up 14.7% from this time last year.

94.8% was the average sale price, relative to the original listing price this month

  • This is very much in line with historical trends for this time of year and given the current market shift. It represents a 1.3% decrease from last month. It does suggest that buyers in this price range expect a little room for negotiation so it is imperative to price your house correctly the first time. 
Oct. 3, 2017

South Metro Market Update, October 3, 2017

Fall is officially here. The leaves are changing, the temperatures dropping and its already snowing in the mountains. Does the market tend to cool off like the temperatures? Let's take a a bit of a closer look at the Denver South Metro area Market and find out. For this article, we are defining this as south of Hampden, west to Ken Caryl, East to Aurora and all the way down to Castle Rock.

 

South Metro Real Estate:

1,515 properties sold this month

  • This is down about 11.9% from last month and down about 12% from this time last year.

$448,000 median sale price for Single Family Homes this month

  • This is down just 0.4% from last month, and up almost 6.7% from September 2016. 

$277,895 median sale price for Condos/Townhouses this month

  • This is up about 0.8% from last month and is up a strong 11% from September 2016.

2,223 active listings available this month

  • This is down about 6.2% from last month, and down 14% from September 2016 when there were 2,585 listings available.

98.2% was the average sale price, relative to the original listing price this month

  • This is down a little from last month but about the same as this time last year. It shows that homes priced right tend to sell at full price. 

 

Fun fact: This year has been a record setting year for the South Denver Metro area. Despite what you might hear about how quickly homes are selling, the market average for the South Denver Metro area shows it takes 22 to sell the average home. This is 1 day less than the Denver Market as a whole. 

 

Highlands Ranch City Limits:

161 properties sold this month

  • This is a decrease of 18 homes from last month and down 28  homes from September 2016 when 199 homes sold in Highlands Ranch.

$469,000 median sale price for Single Family Homes this month

  • This is down about 1.8% compared to last month and up about 6.2% from September 2016 when the median was $441,500.

$371,250 median sale price for Condos/Townhouses this month

  • This is a record for the Highlands Ranch area. It's also 14.2% higher than this time last year. The median cost for condos/townhomes in Highlands Ranch is approximately 33.6% higher when compared to the entire South Metro median.

175 active listings available this month

  • This is 21 fewer than last month and but about 80 homes less than this time last year.

98.2% was the average sale price, relative to the original listing price this month

  • This is the same compared to the market as a whole. For Highlands Ranch, this is 1% lower than it was last month and 0.5% higher than it was this time last year.

 

Fun fact: Homes in Highlands Ranch this month took an average of 25 days to sell. The market as a whole required an average of 27 days to sell a home. 

 

Luxury Market for The South Metro Area (over $700,000):

139 properties sold this month

  • This is down just 3 homes from last month but and well ahead of the 114 homes we saw sell September of 2016

69 days was the average Days on Market this month

  • While this is 2 days longer than last month, its a little more in line with historical trends. We may have had a good month this past month, but this is not necessarily indicative of a market shift. This number is generally somewhere in the 70-80 day range.

5.5 "Months of Inventory" in August 2017

  • The number the pros watch most closely. This is a balanced market, maybe leaning slightly towards a seller's market., not the bullish Seller's market we're seeing in the lower price points. This was at 5.3 months of inventory last month, and was at 7.7 months this time last year. Over the past year, Months of inventory has averaged close to 6, with peaks in January and February. Overall this is a balanced market. While this may appear to break the trend a little, this is in line with the summer activity we see in the luxury market 

$900,000 median sale price for Single Family Homes this month

  • Over the past year, this number has trended in the low to mid 900's. This is slightly lower than we saw earlier in the summer. This is in-line with the overall trends in this price point, though it's a slight decrease from the recent peak of $950,000 this past January. Due to the generally low number of sales in the luxury segment compared to the market as a whole, we can see an artificial volatility with sale prices. 

743 active listings available this month

  • This is down about 29 homes from last month but 137 homes less than this time last year.

94.2% was the average sale price, relative to the original listing price this month

  • This is very much in line with historical trends. It's just below the peak in June 2017 of 97.1 %. It does suggest that buyers in this price range expect a little room for negotiation so it is imperative to price your house correctly. 
Sept. 5, 2017

South Metro Market Update, September 3, 2017

Let's take a a bit of a closer look at the Denver South Metro area Market. We are defining this as south of Hampden, west to Ken Caryl, East to Aurora and all the way down to Castle Rock.

 

South Metro Real Estate:

1,721 properties sold this month

  • This is up about 2.5% from last month and down about 5.5% from this time last year.

$450,000 median sale price for Single Family Homes this month

  • This is down just 1% from last month, and up almost 7% from August 2016. This is a new record for the South Metro area. 

$275,750 median sale price for Condos/Townhouses this month

  • This is up about 2.1% from last month but is up a strong 11% from August 2016.

2,372 active listings available this month

  • This is down about 1.2% from last month, and down 17% from August 2016 when there were 2,858 listings available.

98.5% was the average sale price, relative to the original listing price this month

  • This is down a little from last month but about the same as this time last year. It shows that homes priced right tend to sell at full price. 

 

Fun fact: This year has been a record setting year for the South Denver Metro area. Despite what you might hear about how quickly homes are selling, the market average for the South Denver Metro area shows it takes 22 to sell the average home. This is 1 day less than the Denver Market as a whole. 

 

Castle Rock City Limits:

207 properties sold this month

  • This is an increase of 19 homes from last month and up homes from August 2016 when 196 homes sold in Castle Rock.

$455,000 median sale price for Single Family Homes this month

  • This is down about 3% compared to last month and up about 3.4% from August 2016 when the median was $439,950.

$308,750 median sale price for Condos/Townhouses this month

  • This is just below the all time record of $314,900 set last month. It's also 8.3% higher than this time last year. The median cost for condos/townhomes in Castle Rock is approximately 12.3% higher when compared to the entire South Metro median.

416 active listings available this month

  • This is 45 fewer than last month and but about 69 homes less than this time last year.

97.9% was the average sale price, relative to the original listing price this month

  • This is down 0.5% compared to the market as a whole. For Parker, this is 0.8% lower than it was last month and 0.3% lower than it was this time last year.

 

Fun fact: Homes in Castle Rock this month took an average of 10 days longer to sell than the rest of the market. For the month of August it took just over a month to sell a home in Castle Rock.

 

Luxury Market for The South Metro Area (over $700,000):

142 properties sold this month

  • This is down 6.6% from last month but and slightly behind the 156 homes we saw sell August of 2017

67 days was the average Days on Market this month

  • While this is a week longer than last month, its a little more in line with historical trends. We may have had a good month this past month, but this is not necessarily indicative of a market shift. This number is generally somewhere in the 70-80 day range.

5.3 "Months of Inventory" in August 2017

  • The number the pros watch most closely. This is a balanced market, maybe leaning slightly towards a seller's market., not the bullish Seller's market we're seeing in the lower price points. This was at 5.2 months of inventory last month, and was at 5.2 months this time last year. Over the past year, Months of inventory has averaged close to 6, with peaks in January and February. Overall this is a balanced market. While this may appear to break the trend a little, this is in line with the summer activity we see in the luxury market 

$887,500 median sale price for Single Family Homes this month

  • Over the past year, this number has trended in the low to mid 900's. This is slightly lower than we saw earlier in the summer. This is in-line with the overall trends in this price point, though it's a slight decrease from the recent peak of $950,000 this past January. Due to the generally low number of sales in the luxury segment compared to the market as a whole, we can see an artificial volatility with sale prices. 

756 active listings available this month

  • This is down about 30 homes from last month but 70 homes less than this time last year.

95.7% was the average sale price, relative to the original listing price this month

  • This is very much in line with historical trends. It's just below the peak in June 2017 of 97.1 %. It does suggest that buyers in this price range expect a little room for negotiation so it is imperative to price your house correctly. 
Sept. 5, 2017

Denver Market Update, September 3rd, 2017

It's that time of year, the kids are back in school, its starting to cool a little in the evenings, and the PSL is back. Fall is in the air. It's also that time where we take a look back and the past month in Real Estate. Did Denver continue on its historic run? Let's take a look back at the month of August and see how Denver performed.  

Denver Metro Real Estate, All Ten Counties:

6,301 properties sold this month

  • This is up almost 6.5% from last month and 1.8% higher than August 2016.

$400,000 median sale price for Single Family Homes this month

  • This is down from the record $410,000 we saw in June, but it is up a strong 6.95% from August of last year.

$275,000 median sale price for Condos/Townhouses this month

  • This is up just $5,000 from last month and is up a strong 13.2% from August 2016. This is just shy of the all time record of $278,000 set in June 2017.

10,481 active listings available this month

  • This is is very similar to last month, up just 0.6%, but down 5.3% from the 11,032 listings we saw in August 2016.

100% was the average sale price, relative to the original listing price this month

  • This is up about 1% from what we saw in last month and in August 2016.

 

Fun fact: This year has been a record setting year for the Denver Metro area. Despite what you might hear about how quickly homes are selling, the market average for the Denver Metro area shows it takes 23 to sell the average home. 

Denver City Limits:

1,300 properties sold this month

  • This is up 5% from last month and it is down about 5.2% from August of 2016 when we saw 1,371 homes close in Denver.

$424,950 median sale price for Single Family Homes this month

  • This is slightly lower than last month, showing a decrease of 3.4%, however this shows an increase of 10.4% from this time last year.

$325,000 median sale price for Condos/Townhouses this month

  • This is down 1.5% from last month and up 10% from August 2016. 

1,937 active listings available this month

  • This represents 3.25% fewer listings than last month and down again from August 2016 where there were 2,185 active listings.

98.7% was the average sale price, relative to the original listing price this month

  • This is down 0.5% from last month but just a mere 0.1% lower than August 2016.

 

Fun fact: While homes in Denver generally sell for more compared to the rest of the market, they actually take the same amount of time, on average, to sell as the rest of the market. Homes in Denver spend 23 days on the market on average. 

Luxury Market for The Metro Area (over $700,000):

511 properties sold this month

  • This is 6.6% lower than last month but an strong 15.9% higher than August of 2016 where we saw 441 homes sell.

59 days was the average Days on Market this month

  • This is 3 days higher than last month and 2 days more than this time last year.  

5.3 "Months of Inventory" in August 2017

  • The number the pros watch most closely. We are starting to see a shift in the luxury market. This month's numbers indicate we might be moving towards a seller's market with luxury homes. While these numbers don't indicate a "strong" seller's market, they suggest the market might be favoring sellers more.  

$872,500 median sale price for Single Family Homes this month

  • Over the past year, this number has trended in the mid to upper $800's. This is 0.8% lower than what we saw last month. This is in-line with the overall trends in this price point, though it's a slight decrease from the recent peak of $927,500 this past January. Due to the generally low number of sales in the luxury segment compared to the market as a whole, we can see an artificial volatility with sale prices. The decrease in median sale price alone is not necessarily reflective of the change in the market. 

2,746 active listings available this month

  • This is down slightly from last month and up 8.6% from this time last year.

97.8% was the average sale price, relative to the original listing price this month

  • This is very much in line with historical trends for this time of year and given the current market shift. It represents a 1% increase from last month. It does suggest that buyers in this price range expect a little room for negotiation so it is imperative to price your house correctly the first time. 
Aug. 3, 2017

South Metro Market Update, August 3, 2017

Let's take a a bit of a closer look at the Denver South Metro area Market. We are defining this as south of Hampden, west to Ken Caryl, East to Aurora and all the way down to Castle Rock.

 

South Metro Real Estate:

1,679 properties sold this month

  • This is down about 10% from last month and down about 3% from this time last year.

$455,000 median sale price for Single Family Homes this month

  • This is up just 1% from last month, and up almost 7% from July 2016. This is a new record for the South Metro area. 

$269,500 median sale price for Condos/Townhouses this month

  • This is down 1.6% from last month but is up a strong 11.1% from July 2016.

2,401 active listings available this month

  • This is down about 3.5% from last month, and down 17.2% from August 2016 when there were 2,900 listings available.

99.3% was the average sale price, relative to the original listing price this month

  • This is similar to last month and this time last year. It shows that homes priced right tend to sell at full price. 

 

Fun fact: The fact that the Capitol's 24-karat gold plated dome is not the rarest thing about it is pretty astounding Not only is the top of the Capitol covered in millions of dollars of bling, but the inside is made with Colorado Rose Onyx. Coming from the quarry in Beulah, Colorado, the entire world's supply was used, making the Denver Capitol building the only place in the world you can find this precious stone. 

 

Parker City Limits:

216 properties sold this month

  • This is a decrease of 52 homes from last month and down 60 homes from July 2016 when 223 homes sold in Parker.

$485,000 median sale price for Single Family Homes this month

  • This is $5,000 higher than last month and up about 9.3% from July 2016 when the median was $424,975.  This is an all time record for Parker.

$270,000 median sale price for Condos/Townhouses this month

  • This is just below the all time record of $276,500 set last month. It's also 7% higher than this time last year. The median cost for condos/townhomes in Parker is approximately the same compared to the entire South Metro median.

397 active listings available this month

  • This is down slightly from last month and but about 50 homes less than this time last year.

98.9% was the average sale price, relative to the original listing price this month

  • This is down 0.4% compared to the market as a whole. For Parker, this is 0.5% lower than it was last month and identical to this time last year.

 

Fun fact: Most of the original town of Parker was situated on land owned by George Parker, not on land owned by James Sample Parker, who most people consider the town's namesake. George Parker filed a timber claim in the early 1870's on land situated east of Highway 83, or what you think of as the town of Parker. James Parker, George's brother purchased in the 20-Mile House property in 1870, but didn't come to live until 1874. Initially neither advocated naming the town "Parker." James actually wanted it to be named Edithville, after his daughter. Apparently, few agreed with him.

 

Luxury Market for The South Metro Area (over $700,000):

152 properties sold this month

  • This is down 11.6% from last month but slightly ahead of the 140 homes that sold in July 2016.

60 days was the average Days on Market this month

  • While this is 22% higher than last month, its a little more in line with historical trends. We may have had a good month this past month, but this is not necessarily indicative of a market shift. This number is generally somewhere in the 70-80 day range.

5.2 "Months of Inventory" in July 2017

  • The number the pros watch most closely. This is a balanced market, maybe leaning slightly towards a seller's market., not the bullish Seller's market we're seeing in the lower price points. This was at 3.8 months of inventory last month, and was at 4.6 months this time last year. Over the past year, Months of inventory has averaged close to 6, with peaks in January and February. Overall this is a balanced market. While this may appear to break the trend a little, this is in line with the summer activity we see in the luxury market 

$920,000 median sale price for Single Family Homes this month

  • Over the past year, this number has trended in the low to mid 900's. This is slightly higher than we saw in April and May. This is in-line with the overall trends in this price point, though it's a slight decrease from the recent peak of $950,000 this past January. Due to the generally low number of sales in the luxury segment compared to the market as a whole, we can see an artificial volatility with sale prices. 

785 active listings available this month

  • This is up about 30 homes from last month but 70 homes less than this time last year.

96.5% was the average sale price, relative to the original listing price this month

  • This is very much in line with historical trends. It's just below the peak in June 2017 of 97.1 %. It does suggest that buyers in this price range expect a little room for negotiation so it is imperative to price your house correctly. 
Aug. 3, 2017

Denver Market Update, August 3rd, 2017

We've hit the mid-summer selling season. Is the Denver market is still setting records?   Were we able to carry the momentum from early spring and summer into this mid-summer time? Let's take an in-depth look at how the market performed in June and see what we have in store for us for the rest of the year. 

Denver Metro Real Estate, All Ten Counties:

5,918 properties sold this month

  • This is down around  5.12% from last month and 1.1% higher than July 2016.

$410,000 median sale price for Single Family Homes this month

  • This is identical to last month, and up a strong 7.9% from July of last year. This is equal to the all time record for the Denver metro area.

$270,000 median sale price for Condos/Townhouses this month

  • This is down just 2.9% from last month and is up a strong 10.3% from July 2016. This is just shy of the all time record of $278,000 set in June 2017.

10,417 active listings available this month

  • This is is very similar to last month, up just 3.3%, but down 5.7% from the 11,042 listings we saw in July 2016.

99.2% was the average sale price, relative to the original listing price this month

  • This is identical to what we saw in last month and in June 2016.

 

Fun fact: The Denver Metro has set a new record Median Sales Price record each month this summer. While the record does not increase significantly each month, this is a great sign that the Denver economy is healthy and strong.

Denver City Limits:

1,237 properties sold this month

  • This is down 16% from last month and it is down about 10.2% from July of 2016 when we saw 1,364 homes close in Denver.

$440,000 median sale price for Single Family Homes this month

  • This is identical to the median price last month, and up over 7.4% from July 2016. This ties a record for Denver. 

$330,000 median sale price for Condos/Townhouses this month

  • This is down 2.9% from last month and up 9.1% from July 2016. 

2,002 active listings available this month

  • This represents 6.9% more listings than last month but down again from July 2016 where there were 2,109 active listings.

99.2% was the average sale price, relative to the original listing price this month

  • This is down 0.5% lower than last month and 0.4% lower than June 2016.

 

Fun fact: The fact that the Capitol's 24-karat gold plated dome is not the rarest thing about it is pretty astounding Not only is the top of the Capitol covered in millions of dollars of bling, but the inside is made with Colorado Rose Onyx. Coming from the quarry in Beulah, Colorado, the entire world's supply was used, making the Denver Capitol building the only place in the world you can find this precious stone. 

Luxury Market for The Metro Area (over $700,000):

547 properties sold this month

  • This is 15.5% lower than last month but an astounding 17.3% higher than July of 2016 where we saw 452 homes sell.

56 days was the average Days on Market this month

  • This is 8 days higher than last month and 5 days less than this time last year.  

5.1 "Months of Inventory" in July 2017

  • The number the pros watch most closely. We are starting to see a shift in the luxury market. This month's numbers indicate we might be moving towards a seller's market with luxury homes. While these numbers don't indicate a "strong" seller's market, they suggest the market might be favoring sellers more.  

$880,000 median sale price for Single Family Homes this month

  • Over the past year, this number has trended in the mid to upper $800's. This is 2.1% lower than what we saw last month. This is in-line with the overall trends in this price point, though it's a slight decrease from the recent peak of $927,500 this past January. Due to the generally low number of sales in the luxury segment compared to the market as a whole, we can see an artificial volatility with sale prices. The decrease in median sale price alone is not necessarily reflective of the change in the market. 

2,821 active listings available this month

  • This is up 1.6% from last month and up 12.9% from this time last year.

96.8% was the average sale price, relative to the original listing price this month

  • This is very much in line with historical trends for this time of year and given the current market shift. It represents a 1.7% decrease from last month. It does suggest that buyers in this price range expect a little room for negotiation so it is imperative to price your house correctly. 
July 3, 2017

South Metro Market Update, July 3, 2017

Let's take a look at the Denver South Metro Area with our South Metro Specialist, William Kretzer. We are defining this as south of Hampden, west to Ken Caryl, East to Aurora and all the way down to Castle Rock.

 

South Metro Real Estate:

1,867 properties sold this month

  • This is up just 3.2% from last month but down about 6% from this time last year.

$450,250 median sale price for Single Family Homes this month

  • This is up just 1% from last month, and up almost 5% from June 2016. This is only slightly below the record of $451,000 in March 2017.

$275,000 median sale price for Condos/Townhouses this month

  • This is virtually identical to last month but is up a strong 8% from June 2016.

2,275 active listings available this month

  • This is up 9% from last month, and down 11.9% from June 2016 when there were 2,581 listings available.

99.7%% was the average sale price, relative to the original listing price this month

  • This is similar to last month and this time last year. It shows that homes priced right tend to sell at full price. 

 

Fun fact: Elvis Presley once flew in his private jet from Memphis to Denver's Stapleton Airport just for a sandwich. he ordered 22 Fool's Gold Loafs, a sandwich containing a jar of peanut butter, a jar of grape jelly and one pound of bacon, from the Colorado Gold Mine Company Steakhouse for him and his friends. They dined on the sandwiches with champagne and then returned home.

Castle Rock City Limits:

212 properties sold this month

  • This is a decrease of 13 homes from last month and down 11 homes from June 2016 when 223 homes sold in Castle Rock.

$450,000 median sale price for Single Family Homes this month

  • This is the same as the median price last month, and up about 4% from June 2016 when the median was $432,000. 

$310,000 median sale price for Condos/Townhouses this month

  • This is identical to last month and about 10% higher than this time last year. The median cost for condos/townhomes in Castle Rock is 12.7% more than the entire South Metro median.

438 active listings available this month

  • This is up slightly from last month and but about 60 homes less than this time last year.

99.1% was the average sale price, relative to the original listing price this month

  • This is down 0.5% compared to the market as a whole. For Castle Rock, this is 0.1% higher than it was last month and 1.5% higher than this time last year.

 

Fun fact: Castle Rock was named for the prominent rock formation that overlooks the city, but what put it on the map was the discovery of rhyolite stone in the butte near Plum Creek. Rhyolite is an igneous, volcanic rock that can have a great many appearances depending on how it erupts, but it is always stunning.

 

Luxury Market for The South Metro Area (over $700,000):

172 properties sold this month

  • This is up 26.5% from last month but virtually identical to the 172 homes that sold in June 2016.

49 days was the average Days on Market this month

  • While this is 37% lower than last month, and further 10 less than this time last year. We may have had a good month this past month, but this is not necessarily indicative of a market shift. This number is generally somewhere in the 70-80 day range.

4.3 "Months of Inventory" in May 2017

  • The number the pros watch most closely. This is a balanced market, maybe leaning slightly towards a seller's market., not the bullish Seller's market we're seeing in the lower price points. This was at 3.8 months of inventory last month, and was at 4.6 months this time last year. Over the past year, Months of inventory has averaged close to 6, with peaks in January and February. Overall this is a balanced market. While this may appear to break the trend a little, this is in line with the summer activity we see in the luxury market 

$925,000 median sale price for Single Family Homes this month

  • Over the past year, this number has trended in the low to mid 900's. This is slightly higher than we saw in April and May. This is in-line with the overall trends in this price point, though it's a slight decrease from the recent peak of $950,000 this past January. Due to the generally low number of sales in the luxury segment compared to the market as a whole, we can see an artificial volatility with sale prices. 

737 active listings available this month

  • This is up about 30 homes from last month but 50 homes less than this time last year.

96.9% was the average sale price, relative to the original listing price this month

  • This is very much in line with historical trends. It's Identical to the peak in June 2016 of 96.9%. It does suggest that buyers in this price range expect a little room for negotiation so it is imperative to price your house correctly. 
July 3, 2017

Denver Market Update, July 3rd 2017

We've hit the mid-summer selling season. Is the Denver market is still setting records?   Were we able to carry the momentum from early spring and summer into this mid-summer time? Let's take an in-depth look at how the market performed in June and see what we have in store for us for the rest of the year. 

Denver Metro Real Estate, All Ten Counties:

6,238 properties sold this month

  • This is up about 6.6% from last month and 7.4% higher than June 2016.

$410,950 median sale price for Single Family Homes this month

  • This is up 1.2% from last month, and up a strong 6.2% from June of last year. This is an all time record for the Denver metro area.

$277,500 median sale price for Condos/Townhouses this month

  • This is up 3.25% from last month and is up a strong 12% from June 2016.

10,077 active listings available this month

  • This is up a massive 40.27% from last month, but down 1.8% from the 10,266 active listings we saw in June 2016.

100% was the average sale price, relative to the original listing price this month

  • This is identical to what we saw in last month and in June 2016.

 

Fun fact: The Denver Metro has set a new record Median Sales Price record each month this summer. While the record does not increase significantly each month, this is a great sign that the Denver economy is healthy and strong.

Denver City Limits:

1,435 properties sold this month

  • This is up about 10.5% from last month and it is up about 5% from June of 2016 when we saw 1,368 homes close in Denver.

$440,000 median sale price for Single Family Homes this month

  • This is up 0.7% compared the median price last month, and up over 8% from June 2016. This is a new record for Denver. 

$340,000 median sale price for Condos/Townhouses this month

  • This is up 7% from last month and up 18% from June 2016. This is just below the record set in April 2017 of $347,250.

1,873 active listings available this month

  • This represents 15% more listings than last month but down again from June 2016 where there were 2005 active listings.

99.7% was the average sale price, relative to the original listing price this month

  • This is almost 1.0% lower than last month and 0.5% lower than June 2016.

 

Fun fact: To gather a pulse on the real estate market, experts use what we call "months of inventory." This is the amount of time it would take to sell all current listings in Denver if no new listings became available. Generally, 5-7 months of inventory is considered a "balanced market." The Denver market has sat below 2 months of inventory since March 2014 indicating a very strong sellers market. 

 

 

Luxury Market for The Metro Area (over $700,000):

632 properties sold this month

  • This is a massive 7.5% higher than last month and an astounding 22.5% higher than June of 2016 where we saw 522 homes sell.

48 days was the average Days on Market this month

  • This is 10 days than last month and 10 days less than this time last year.  

4.4 "Months of Inventory" in June 2017

  • The number the pros watch most closely. We are starting to see a shift in the luxury market. This month's numbers indicate we might be moving towards a seller's market with luxury homes. While these numbers don't indicate a "strong" seller's market, they suggest the market might be favoring sellers more. This is the lowest we have seen the "months of inventory" in close to a decade. 

$899,000 median sale price for Single Family Homes this month

  • Over the past year, this number has trended in the mid to upper $800's. This is 2.3% higher than what we saw last month. This is in-line with the overall trends in this price point, though it's a slight decrease from the recent peak of $927,500 this past January. Due to the generally low number of sales in the luxury segment compared to the market as a whole, we can see an artificial volatility with sale prices. The decrease in median sale price alone is not necessarily reflective of the change in the market. 

2,553 active listings available this month

  • This is up 7.5% from last month and up 12.2% from this time last year.

98.6% was the average sale price, relative to the original listing price this month

  • This is very much in line with historical trends for this time of year and given the current market shift. It represents a 1.5% increase from last month. It does suggest that buyers in this price range expect a little room for negotiation so it is imperative to price your house correctly. 
June 19, 2017

Child Safe Childproofing

When was the last time you crawled around your home on your hands and knees? As strange as it sounds, give it a go. Kids explore their everyday environments, so it’s important to see things as they do to make sure your home is safe.

Shane McNulty and his wife, Nicole, founded Child Safe Childproofing to do just that.  We sat down with Shane and Nicole to learn more about their passion for safety and how they help parents keep their kids safe.

With three children of their own, they know first-hand the daily challenges associated with being a parent. Coupled with a career in law enforcement, and having responded to more calls about injured children than he cares to remember, Shane chose to move away from responding to the aftermath and opened a childproofing business to help prevent accidents before they happen.

Child Safe Childproofing specializes in creating customized, practical solutions for each of their clients. They are active members of the International Association for Child Safety and are insured specifically for childproofing.

Custom Railing Cover

For each client, they will perform an in-home assessment to identify your childproofing needs. Each home is unique and every parent’s needs are different. Throughout their assessment, Shane and Nicole will focus on education and provide insight by pointing out hazards in your home you may never have considered.

We all know about basic childproofing measures such as outlet covers and cabinet locks, but there are far more hidden dangers within our homes – many we might not have considered. Shane and Nicole mentioned furniture tip overs as one of the biggest causes of injury within the home. Even a medium sized dresser, should it fall on your child could prove disastrous.

Other areas they often see neglected are sharp utensils left in dishwashers, button batteries, coins decorative stones, etc. left within the child’s reach, and defective smoke and carbon monoxide detectors.

Child Safe Childproofing offers solutions to these potential hazards and countless others. Where they don’t have a ready-made solution, they can work with you to create custom-crafted solutions.

Gate Installed at Top of Stairs

We often think of babies and toddlers when we hear the words “babyproofing” or “childproofing.” While it is true that young kids have the highest risk of being injured at home, accidental injury is the leading cause of death in kids up to 14 – and more than a third of these injuries happen at home.

Some childproofing devices can be purchased at big box stores, but as a professional childproofer, Shane and Nicole have access to a wider selection and a higher quality product from professional suppliers.  

It’s never too early or too late to start preventing accidents before they happen. Child Safe will offer consultations before the child is born as well as any time after the child is born. Child Safe installs all their products themselves and can add/edit the set up as the child grows and the needs change.

In addition to childproofing your home, Child Safe employs a certified Child Passenger Safety Technician, Erin, who offers parents assistance in selecting the right car seat and how to properly install it. She will inspect your current car seat and how its installed and adjust as necessary. 

 

If home safety measures seem overwhelming, Child Safe offers a consultation in which they will assess your home for potential dangers and work with you to create a custom plan that grows and changes as your children do.