Monthly Roundup April: DMAR in the News
Our Association caught the attention of several major media outlets this month including Forbes, 9 News, Denver Business Journal, The Denver Post, 5280, Westword and The Colorado Independent.
Forbes
With Help From Millennials, Denver Home Prices Continue To Rise
Denver sale volume increased 44.42% compared to the month prior, according to the Denver Metro Real Estate Market Trends Report. The closed dollar volume in March in this luxury segment (single-family homes and condos priced over $1 million) was up 89% from the previous month and up 45% year over year, the realty group says. “The spring selling season in our housing market experienced some of its own March Madness,” said Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “Homebuyers and sellers will be happy by the healthy increase in activity.” Read more...
9News
Selling season gives metro Denver home listings a boost
Although still low relative to historic norms, the number of active listings in metro Denver reached 4,921 in March, up nearly 27 percent from February and up 9.7 percent year-over-year, according to data from the Denver Metro Association of REALTORS®. Average prices also increased, jumping 8.8 percent to $425,607 including both detached houses and attached condos and townhomes. Read more...
Denver Business Journal
You only want how much for those new Denver condos?
Most of the units in the project are priced above $300,000, according to the development’s website, which is higher than the average condo price of $297,000 as of February, according to the Denver Metro Association of REALTORS®. But they are still priced well below many of the other condos that have been built in recent years, aimed at higher-end buyers who can afford luxury product. Read more...
Selling season gives metro Denver home listings a boost
After reaching its lowest-ever point in February, home inventory in metro Denver bounced back a bit in March, boosted by the beginning of the spring selling season. Although still low relative to historic norms, the number of active listings in metro Denver reached 4,921 in March, up nearly 27 percent from February and up 9.7 percent year-over-year, according to data from the Denver Metro Association of REALTORS®. Read more...
Metro Denver foreclosure filings still declining, leaving scant housing inventory
The low foreclosure filings contributes to the lack of housing inventory. Metro Denver recorded an all-time record-low for the number of active listings on the market in February, according to the Denver Metro Association of REALTORS®. Active listings, including both single-family detached homes and attached properties like condos and townhomes, hit 3,878 in February, an all-time low for any month on record. Read more...
Denver Post
Denver home listings flooded the market in March – and buyers were ready
The number of new listings for single-family homes in metro Denver shot up 53.5 percent in March from February and the number of new listings for condos rose 38.2 percent month over month, according to a monthly update from the Denver Metro Association of REALTORS®. “Historically, there is always that bump from February to March,” said Steve Danyilw, a real estate agent who oversees the DMAR Market Trends Committee. “We were anticipating a jump, but it was a little surprising.” Read more...
Denver, northern Front Range real estate party ends in late 2019, new forecast predicts
Anthony Rael, former head of the market trends committee at the Denver Metro Association of REALTORS® and an Arvada real estate agent, said he wouldn’t be surprised by Location Inc.’s five-year forecast. Rael contends that the ongoing shortage of homes and continued migration to metro Denver will support double-digit price gains through this year and into early 2018 but that the upward trend can’t last forever. “Affordability is major concern, so the one thing that will upset the apple cart most immediately are interest rates that start hovering in the high fives,” Rael said. “Once the brakes are applied and buyer demand begins to drop off, that will naturally pull prices back down.” Read more...
5280
Should You Love Or List Your Denver Home?
Denver Metro Association of REALTORS®’ recent report of a record-low number of active listings for single-family homes and condos (only 3,878 properties were available in February 2017), paired with (slowly) rising interest rates has many Denver homeowners wondering if it’s time to list their homes before buyers get scared—or forced—out of the market by higher mortgages. And let’s face it: Stories of bidding wars, double-digit appreciation, and cash offers make it a tempting prospect. But how do you know if the time is right for you? Read more...
Westword
Denver's Hot Housing Market: Why Are There More "Coming Soon" Signs?
Scott Grossman, who chairs the board for the Denver Metro Association of REALTORS®, the largest such organization in the city, concedes that "there are ethical ways" of using "Coming Soon" signs, unlike "agents who are out there using it to their personal advantage, as opposed to representing their clients in the best light." Read more...
Metro Denver Home Values Skyrocket: How Much More Your Home Is Worth Now
Scott Grossman, who chairs the board for the Denver Metro Association of REALTORS®, says the houses that are selling most quickly these days are in the "mid-range" — those priced between $250,000 and $500,000. That's certainly proven to be the case in one southwest metro neighborhood in unincorporated Jefferson County. In recent weeks, houses that were previously valued at between $250,000 and $300,000 sold for $100,000 or more above previous amounts. But the values are zooming in pretty much every price category right now. Read more...
The Colorado Independent
Seventeen metro-area communities passed resolutions or other legislation in the past five years to create their own community construction defect reforms. But according to a group of Colorado mayors, that has not yet led to building new affordable condo development. “Affordable,” by the way, is defined by the Denver Metro Association of REALTORS® at somewhere around the U.S. median housing price of $222,000. Read more...
