Denver is Number One!

• According to Forbes, Denver is number one in real estate the most competitive housing market in the nation! The Denver metro area is in a compression phase of the housing cycle, meaning there are far fewer homes for sale than buyers looking to buy. Expect this compression to continue and prices to rise through June if the cycle is anything like years past. Starting in July, we will see buyer fatigue and inventory hit an annual high.
• Denver came in 6^th on the national list of apartments completed, with 11,700 apartments built in the city last year.
• Boulder ranked 4^th on 2018’s hotbeds for luxury real estate.
• Vail ranked the most expensive city in the nation for condos that fall within the median price of $1,628 per square foot.
• Cherry Hills Village was ranked the 3^rd richest suburb in the entire country.

Denver is in the top 20!

• Denver is one of the top-20 U.S. markets for commercial construction starts, according to a new report. The Denver Metro Area, which ranked 17^th overall, saw a 23% drop last year, from $3.7 billion in 2017 to $2.8 billion in 2018.
• Denver has become a magnet for a millennial migration in the years since the Great Recession. This is according to a new Brookings Institution report. Data from the 2017 American Housing Survey shows over half of recent home buyers move for a better home. Homebuyers also move for a better neighborhood and to form a household.
• Year-to-Date 2019 has seen more homes go under contract than in 2018. Supply is higher, but this indicates that so is the amount of buyers looking for homes.
• Back on the market status changes are rising with buyers experiencing a sense of buyer’s remorse. It’s important that buyers take a solid stance when it comes to inspection items and appraisal issues!

The Spring Rush is on!

• Even with the dipping temps and ever present snow, market activity is increasing. It was a slow start to the season, but the spring selling season has officially started!
• Showing activity has remained strong for the metro area. As buyers have more to choose from than in the recent past, they’re afforded the opportunity to be a bit choosier and they know it. Sellers should be mindful that skills, experience along with an agreed upon plan, will lead to fulfilled expectations in this shifting market. Hiring the right and most experienced agent is in your best interest!
• With more inventory in the $1 Million plus market locally, more buyers are increasing their budgets to get more.
• Buyers are coming back out as mortgage purchase applications were up 6% in the last week of February, which puts Denver up 3% over 2018. I have my finger on the pulse of Denver Real Estate!

COMING SOON!