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Fun Facts Mis-Led The most misleading stat about the housing market is increase in inventory. The number of properties for sale is up significantly compared to last year.  In most locations along the Front Range, inventory has doubled.This is obviously great news for buyers because they now have more choice.This is obviously meaningful for sellers because they now have […]
New Listing New Listings November 2022 Looking for a home in a great location with a little extra elbow room? This is it! 6739 Brittany Drive is a beautiful 3 bedroom 2 bathroom home located in Provincetown. Situated on a approximately 1/4 acre corner lot and mature landscaping, the back yard boasts built in garden beds with irrigation, a compost bin […]
Fun Facts Bargaining Power Buyers (finally) have more bargaining power.  For many, many months sellers had the distinct upper-hand and commanded above-list price offers.  Bidding wars were the norm.  Buyers had virtually no negotiating power.The numbers show that the dynamic has absolutely changed.The ratio of the final sales price to the list price is now at 98.1%.From April 2020 […]
Fun Facts Inflation and Housing Yesterday’s Consumer Price Index report for October showed a lower-than-expected increase in inflation.  Many believe, based on the numbers, that inflation rates may have peaked.  Investors cheered and the stock market showed its biggest increase since bouncing back from the pandemic-caused bear market in 2020.So, what does yesterday’s news mean for housing in the short […]
Fun Facts A Numbers Game Here’s a fun fact. Generally speaking, a Seller should expect to have between 8 and 13 showings before receiving an offer. The exact number of course depends on price point and location. So, how quickly a property sells depends upon how quickly those showings are generated. The old adage of ‘it’s just a numbers game’ […]
New Listing New Listings October 2022 8225 River Run Drive, a better than new Ranch Style Patio Home in River Run, awaits. The open floor plan welcomes you as soon as you enter. You will notice the enticing fireplace and kitchen perfect for entertaining! The main level and basement living area have been upgraded with LVP for a beautiful look and […]
Fun Facts Luxury is Stronger The market above $1,000,000 is stronger than the market overall.This is true in both Northern Colorado and Metro Denver.The luxury market is not slowing to the same degree as the overall market.In Northern Colorado: Closed transactions are down 41% in the overall market and 26% in the luxury market over $1,000,000 Pending transactions are down […]
Fun Facts Big Jump We are seeing a big jump in properties for sale as measured by months of inventory.​​​​​​​ As a reminder, a market is considered balanced when there is between 4 and 6 months of inventory on the market.  Meaning, at the current pace of sales, it would take 4 to 6 months to sell all of […]
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Blog Halfway Check This is a market which is changing quickly.  We are studying the numbers every day so we can be clear about where the market is heading. Here is a check on the market halfway through October. Compared to last October… Available inventory is up 73% in Northern Colorado and up 112% in Metro Denver.  This […]
Fun Facts Toward Balance Our market is moving toward a balanced market, but it is still unbalanced. By definition, a balanced market has between 4 and 6 months of inventory for sale. Today there is essentially two months.  One year ago, there was only 3 weeks of inventory. It has actually been 16 years since the market has been […]
New Listing New Listings September 2022 Welcome home to 460 Birch Avenue! This beautiful ranch style home that is all brick and provides 4 bedrooms, 2 baths, all wood floors throughout the main level, new updated kitchen, newer refrigerator, windows have been replaced, large living room, total 2436 sq ft with 2106 completed, 2 car garage, mature landscaping, nice large backyard […]
Fun Facts The Big News The big news this week is obviously the rise in interest rates. Average 30-year fixed mortgage rates are now at 6.7% which is the highest they have been since July 2007. So, how is this affecting the market?  Here is what we notice… There are fewer buyers in the market.  Sales activity, measured by closed […]
Blog Most Multi There are more multi-family residential properties under construction than at any time since 1974.   890,000 properties with 2+ units are currently being built across the United States.  This includes both for-sale product, and for-rent product.   Additional supply is clearly beneficial for both buyers and renters and will hopefully relieve some of the housing […]
Fun Facts Price Peek Here is a peek at average residential prices along the Front Range through the first half of September and how they have changed versus one year ago: Larimer County = $663,000 up 11.6% Weld County = $511,000 up 4.5% Boulder County = $1,165,000 up 17% Metro Denver = $668,000 up 9%
Fun Facts Best Places U.S. News & World Report just released their ‘Best Places to Live’ rankings and two Colorado cities made the top five list. They rank the 150 most populated metropolitan areas on criteria such as employment, quality of life, and strength of the housing market. Here are the top 5: 1.  Huntsville, AL 2.  Colorado Springs, […]
Fun Facts New Rankings The latest Home Price Index report has just been released by the Federal Housing Finance Authority. They track home price appreciation for the largest metropolitan areas in the U.S. plus state by state appreciation. Here is the ranking of the top three states for price growth over the last twelve months: 1.  Florida = 29% […]
New Listing New Listings August 2022 Beautiful country views at 3660 Cheetah Drive! Warm and welcoming open floor plan in the established Blackbird Knolls neighborhood. 2 year old hardwood floors throughout the first floor and stairs and 2 year old carpet and tile on the upper floor. Enjoy your view from the back of the house of conservation land and pasture. […]
Fun Facts Like 1993 Here’s a trivia question… The number of new, single-family homes completed in 2022 will most closely resemble which prior year? If you guessed 1993, you are correct. Yes, the number of homes built and completed this year is no more than the number from 30 years ago. In 2022, there will be just over 1 […]
Fun Facts Under 100 For the first time in a long time, the sale to list price ratio is below 100%. This statistic measures the final sales price versus the listing price. During the super-active market of the last 24 months, this number averaged over 100%. This was a result of multiple offers and bidding wars which caused buyers […]
Fun Facts What Gives? “I thought the market was cooling off, so why are prices still going up?” This is a frequent question we hear from our clients. They are understandably confused by the fact that average prices have continued to rise at a rapid pace even though sales activity is slower than what it was 6 months ago. […]
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