For the past eight years, the Denver housing market has been on fire. Denver home prices surged and as of August 2020 hit historic highs. According to the Denver Metro Association of Realtors, the average price of a single-family home in the Denver Metro area rose to $606,330 in August. This proves that not even […]
Inventory of Homes For Sale At Record Low
The Denver MLS now offers only 2889 detached, homes for sale in the 5 county metro area. That’s the lowest inventory of homes on the real estate market since I became a Denver Realtor. And, that streak probably goes back even before 1978 when I was a rookie Realtor. You see, records kept by the […]
Seasonality of Denver Real Estate Market
Most real estate markets have some degree of seasonality. Denver is no exception. I have been in this business since 1978 and have nearly always seen home sales drop in the middle of the summer and drop more between mid-November and March. But, something has changed in the last 3 years.
Shadow Inventory Myths
Remember all the stories a few months ago forecasting that Banks would depress real estate prices by listing lots of “Shadow Inventory” in the Denver MLS? While this was true for many large cities in the US, it wasn’t true in the Denver real estate market. First, let’s define Shadow Inventory. Exhibit 1: Shadow Inventory […]
Is Now A Good Time to Buy A Home?
This is the most common question asked by first time home buyers, move-up buyers and sometimes even Denver relocation home buyers today. Although interest rates are outstanding, many Buyers are still nervous about the direction of home prices over the next few years. Google “real estate forecast” and you will find 74,000,000 links. I can […]
What Will Happen To Home Prices In Your Neighborhood?
This article will help you understand some important forces that drive local Denver real estate neighborhood real estate prices – and what it might mean for your neighborhood. In April 2010, the number of home S/S (short sales) overtook the number of REO (bank owned) sales.
Sellers Beware; Buyers Prepare
When a national real estate guru comes to Denver to address Realtors, it’s usually like a high school pep rally. Realtors are told that the glass is half full. The market is about to turn. And all they need to do is list more properties for sale to succeed. Steve Harney came to the Daniels […]
Denver Neighborhoods Home Price Trends
Lon Welsh is a statistician and Denver real estate Broker By Charles Roberts and Lon Welsh Second Quarter Denver Home Prices The Denver real estate market had a great second quarter. If you compare the twelve months from July 2009 – June 2010 to the twelve months immediately preceding it, the average Denver home price […]
More Low Priced Homes Selling
By Lon Welsh and Michael Canon, Your Castle Real Estate. Comparing 2006 to 2007 in Denver and the suburbs such as Aurora, the average home price across the metro Denver area has dropped 3%, to $303,000. The average price in 2008 was $267,000: a 13% decrease. Comparing the 1st Quarter of 2008 ($271,000) to 1Q 2009 ($241,000), […]
Denver: Second Best Market
By Larry Hotz, Senior Editor This week, the Case-Shiller report again announced that Denver is the second best of the major real estate markets in the country. We held up better than the other 18 markets. This is consistent with other reports that Denver has weathered the real estate storm better than most areas of […]