Monthly Roundup March: DMAR in the News
Colorado Public Radio
Want To Buy A House In Denver? Do It Fast And Prepare For A Bidding War
Last February, Denver-area homes sat on the market for about two weeks. This year, homes were more likely to sell in a mere five days. The latest report from the Denver Metro Association of REALTORS® shows fierce competition between homebuyers heading into peak selling season. Demand is especially high for detached homes, which spent less time waiting for offers than the broader market — just four days. Read More
The Denver Business Journal
Just a fifth of Denver renters could afford mortgage payment, report finds
Only around 21% of Denver-area renters could afford a typical monthly mortgage payment, according to a report from Zillow released Tuesday. Assuming a 3.5% down payment, a mortgage rate of 3%, a mortgage insurance premium of 0.7% and local estimates of insurance payments and taxes, the study found that 27.4% of renter households nationwide could afford a monthly mortgage. Read More
The Denver Post
Metro Denver housing market selling homes faster and faster
At the end of last month, only 1,120 single-family homes and 904 townhomes and condos were available for purchase across all of metro Denver and a few nearby counties, according to a monthly update from the Denver Metro Association of REALTORS®. Read More
CBS
The housing market in the Denver metro area has seen a dramatic increase in home prices of more than 20 percent over the past year, making it even more competitive for families to buy their first home. Those who were able to purchase a house say they had to open their search beyond their initial expectations as realtors say the inventory will only improve slightly for the rest of 2021, keeping it a seller’s market. Read More
Denver 7
Lucille Ulibarri bought a condo in Thornton's Peachtree complex in December and three months later, she got stuck with a special assessment for storm damage that occurred in 2018. Ulibarri said she was looking to downsize. "I fell in love with the condo, it was perfect for me," she said. "I wanted to start a new life after I lost my mother." Read More
Feb. housing sales: Inventory is down, prices are high
9 News
Denver real estate agent says offers $90K and $100K over asking price lost
Homes in the Denver metro housing market continue to fly off the market as March begins, according to the latest report from the Denver Metro Association of REALTORS® (DMAR). Speed continues to be an important factor for potential buyers facing heavy competition, with homes lasting 23 days on average, and just five median days, on Multiple List Service (MLS) listings. Read More
Fox 31
1 year of COVID: Front Range homes got more expensive during pandemic
The COVID-19 heightened a longstanding issue with Colorado housing – there isn’t enough and it’s become quite expensive. Colorado has gained a million people in the past 20 years, including more than 700,000 in just the past decade. This trend continued throughout the pandemic as the state’s mountains and sunshine drew migrants. Denver was the eighth most popular COVID-19 migrant destination in the country, according to Bloomberg. Read More
5280
Denver Homes Are (Still) Selling Fast and for Top Dollar
So far, 2021 doesn’t look much different from 2020—and we’re not just talking about COVID-19 restrictions. Denver’s housing market, which has been scorching hot for the past year, shows no sign of slowing down. There are an abundance of buyers, homes are selling fast, and prices keep increasing. Read More
Next Advisor
This Is How Long It Takes to Buy a Home in 2021
There’s a lot of teamwork involved with buying a home, from the real estate agent to your loan officer, home inspector, title attorney and the rest of the crew. While the collaboration ensures you make a good purchase, it also makes for a complex and lengthy process. Read More
Global Mansion
Denver Housing Logs Another Month of White-Hot Sales
It took the average home in the Denver metro area only five days to sell in February, three times faster than the same time a year ago, according to new figures from the Denver Metro Association of REALTORS®. It’s no surprise given how competitive the market has become. By the end of February, there were little more than 2,000 listings on the market across the city and outlying counties, a sliver of the average 13,500 typically on the market that time of year. Read More
Westword
What Do You Call a $630K Home in Denver? Below Average
The old maxim stating that what goes up must come down doesn't apply to home prices in Denver — at least not right now. The market has again set a new record for the average price of detached homes, with the current mark of more than $630,000 representing an increase of nearly $120,000 over the span of a single year. Read More
Centennial Citizen
Get an advantage in today’s real estate market.
According to a recent report by the Denver Metro Association of REALTORS®, the average days a house is in the MLS is down 41% from a year ago to 23 days. For home buyers, that means you need to be ready to take action In other words, in the pool of potential buyers, you need an advantage. In addition to knowing the neighborhoods you’re interested in, distinguishing between the must-haves from the nice-to-haves in your next home, and getting pre-qualified, you may need to sell your current house. Typically, that means listing it, prepping it for sale and hoping the timing works out. The good news - there’s a better way. Read More
Littleton Public Schools mulls closing some elementaries
Littleton Public Schools officials are drawing closer to a decision on how to consolidate two north Littleton elementary schools, part of long-term efforts that will likely see the district's 13 elementary schools reduced to 10 in the face of declining enrollment districtwide. Read More
Axios
Denver homes are flying off the market 41% faster than last year
Denver's real estate market continues to tighten and intensify with inventory down nearly 60% and average home prices up almost 20%, according to a Denver Metro Association of REALTORS® (DMAR) report. Read More
Cashay
How to avoid home-buying remorse in a hot housing market
As more people rush to snap up homes and take advantage of super-low mortgage rates, inventory is shrinking and homebuyers are compromising on their dream-home expectations. The problem? Zillow scrolling and homeownership FOMO could lead to flat-out regrets. Nearly 1 in 4 American homebuyers experienced buyer’s remorse after closing on their new home, according to a 2020 Flyhomes survey. But you can’t simply “return” a house like you would a new pair of jeans that doesn’t fit. Read More
