Monthly Roundup May: DMAR in the News
The Denver Post
Metro Denver housing market developing a taste for luxury
Last year’s pandemic lockdown complicates any year-over-year comparisons when it comes to metro Denver’s housing market, but a few trends definitely remain in play, and some new ones are gaining strength. Read More
Believe it or not, metro Denver home price gains in line with U.S. as a whole, federal index shows
Buyers trying to navigate metro Denver’s housing market this year can’t be blamed for feeling like they are trying to hitch a ride on a speeding freight train. The median price of a single-family home sold in metro Denver rose 23.2% year-over-year in April and 15.5% in the first quarter, according to the Denver Metro Association of REALTORS®. But those gains are based on the given mix of homes sold in a given month or quarter. Read More
Metro Denver housing crunch squeezes buyers, agents
Colorado’s red-hot real estate market may cool as it runs into the frigid winds of limited housing availability and skyrocketing prices. Only 1,921 homes and condos were for sale at the end of March in a metro area with more than 3.2 million people, according to the Denver Metro Association of REALTORS®. The average closing price hit a record high of $674,990 in March, a 19.3% gain from March of last year. Read More
“Insane” housing market: More metro Denver buyers willing to pay whatever it takes to get a contract
Metro Denver’s housing market has run hot for nearly a decade now, so nobody would blame it for taking a breather, especially a year into a pandemic. Instead, the frenzied pace has only sped up, shattering all kinds of records, including how much buyers are willing to pay above a seller’s asking price. Read More
5280
COVID-19 Created the Hottest Real Estate Market Denver Has Ever Seen
Colorado has long been a desirable address, and the Denver metro area’s real estate market has been growing for years. But at the outset of 2020, nobody expected the year to be so exceptional. History tells us that elections, particularly contentious ones, typically slow things down as buyers and sellers wait out political and economic uncertainty. Read More
What to Expect From Denver’s Summer Real Estate Market
Andrew Guterman has been looking to buy his first home on and off since Thanksgiving 2019. The agent and lead analyst at Atlas Real Estate has submitted eight offers, seven of which were more than the asking price. Yet, he still hasn’t been able to land anything. Read More
Denver Business Journal
What homebuyers are up against in the Denver market despite inventory boost
Housing prices in Denver continue to break month-over-month records, as the median price for a single-family home rose to its highest ever statewide and at the Denver-metro level in April. Read More
$7.85M Cherry Hills mansion leads Q1 home sales
The $7.85 million sale of a five-bedroom mansion in Cherry Hills marked the largest residential transaction in the Denver metro in the first quarter of 2021, according to data provided by Denver Metro Association of REALTORS®. Read More
Denverite
Denver will force landlords to get licenses to rent their properties
Renting out properties in Denver is about to get a little more complicated. Denver City Council on Monday approved a new program requiring landlords to get a license to rent out properties. Lawmakers said the licensing program will help the city get a clearer picture of its rental stock and enforce basic living conditions for renters. Read More
Centennial Citizen
Xcel Energy plan sees concerns on health, property values in south Denver metro area
About 200 single-family homes sit within or adjacent to land where Xcel Energy has the right to make adjustments to its power line system for an upcoming project. In the process, some of those homes will have trees removed or trimmed — and roughly 50 sheds will need to be relocated due to construction access, Xcel says. Most of the residential properties that could be affected are in Centennial. Read More
Colorado Politics
Denver home market smoking hot for sellers
April not only brought snow and showers, it brought record-setting returns for Denver home sellers, according to the latest numbers from the Denver Metro Association of REALTORS®. There has not been a better time to sell a home in the Denver metro area. Read More
Fox31
Home out of Range: Commercial properties are turning residential
The former Colorado Art Institute at 12th Lincoln Streets is being repurposed as a 10-story building that will house 194 studio apartments. It’s a recent example of converting downtown commercial space into residential living. The units are tiny — 300 square feet on average — and will rent for $1,200 to $1,500 a month, depending on the rental market once the project is complete by the end of 2022. Read More
Home out of Range Part III: Fewer homes selling for cash
Colorado homes are as expensive as they have ever been, the inventory is as low as its ever been, and homes are selling as quickly as they have ever sold. Predictably, fewer buyers can afford to pay in cash — though the pandemic crunch seems to have kicked that number up. Read More
Home out of Range: Denver houses sell within a week
Price is driven by supply and demand, and in Denver, housing demand is through the roof, according to real estate data. Nationally, there are fewer and fewer homes on the market. According to Nerdwallet, there were only 1.07 million homes for sale in the U.S. in March 2021, down 200,000 from a year before. Read More
Home out of Range: 65% of Denver homes sell over asking price
Alyssa and Andrew Hannig gave themselves a July deadline: find a house or leave Colorado for more affordable pastures. “I’m like ‘We could live in Mississippi, we could do that right?’ We’re flexible, we adapt,” joked Hannig. She can laugh now that she and her husband finally closed on a house in Littleton after a year and half of looking. Read More
Denver’s real estate market breaks 16 records in April 2021
The Denver Metro Association of REALTORS® market trends report shows 16 sales-related records were broken last month. One of the records is the average price of homes being sold. In April, single-family homes sold for an average of $623,825. The previous record was in March 2021 of $587,484. Read More
9News
Soaring home prices and unprecedented demand: Denver real estate experts answer your questions
The Denver housing market is sizzling hot and leaving many would-be homeowners out in the cold. Home prices in the Denver metro area soared more in April 2021 than they usually do in an entire year, according to the latest monthly report from the Denver Metro Association of Realtors. Median single-family home prices reached $580,000 – a Denver metro area record, the report says. Read More
The Denver real estate market is so crazy people are trying to buy homes that aren't for sale
The Conoco in the Bonnie Brae neighborhood has been in the same spot for almost 80 years, and has thrived as a family business since 1942. "We are in a great spot," said Ken Wilson, manager of the gas station and repair shop. "We love being here." Read More
3 Denver-area couples describe what it's like to buy a home in this crazy real estate market
How hot is the Denver real estate market? The median closing price for a home was $204,000 in March 2011. That jumped to $401,000 through April 2017, and to $475,000 in April 2020, according to a report from the Denver Metro Association of REALTORS® (DMAR). This year, that number has grown to $585,000, up more than 23% from a year ago. Read More
Colorado Home Prices Skyrocketing
CBS
Childhood Friends Buy Denver Home Together Amid Soaring Costs: ‘You Have To Be Flexible’
Home prices in the metro area were up in April, showing gains from the previous month and year, with inventory reaching a record low, according to a report released Wednesday. The rising cost to buy a house led two childhood friends to purchase a home together rather than trying to find houses separately. Buying a larger property will let them rent out rooms to help cover the cost of the mortgage. Read More
Denver Gazette
Denver home market smoking hot for sellers
April not only brought snow and showers, it brought record-setting returns for Denver home sellers, according to the latest numbers from the Denver Metro Association of REALTORS®. Read More
The Gazette
Colorado Springs home prices again skyrocket to record highs
few days after a Colorado Springs business leader warned soaring housing costs threaten the viability of local employers, a new report shows area home prices climbed to another round of record highs last month. Read More
Calculated Risk
Denver Real Estate in April: Sales Up 29% YoY, Active Inventory Down 62%
I'm tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year. From the DMAR: Monthly Indicators, April 2021. Read More
Denver 7
Axios
Denver housing inventory expands, but sales go quick
More people are putting their homes on the market in Denver, but those homes are going under contract quicker than ever. Why it matters: Even with a slight shift in the market, potential buyers still have to be ready to move quickly and be prepared for competition. Read More
MSN
Here's what to expect when buying your first home
Before you start the homebuying process, it’s a good idea to prepare your finances and consider whether you’re ready for homeownership responsibilities. If you haven’t given these factors much thought, you can always hit the pause button and ask yourself these questions. Ready to move forward? Here’s a basic roadmap to buying a home. Read More
Westword
Median Colorado Single Family Home Price Tops $500K for First Time
Single-family home prices in metro Denver have been setting records for months — and the same phenomenon is happening statewide. New statistics show that the median price for a single-family home in Colorado has topped $500,000 for the first time ever. Read More
REcolorado
The housing market across Colorado showed incredible year-over-year growth. This time last year, home buyers and sellers were adapting to strict physical-distancing measures to slow the spread of the coronavirus, which greatly impacted the housing market. This year, buying and selling season is in full swing! Keep reading to find the latest REcolorado Market Watch reports for the Denver Metro area, Routt county, and Chaffee county. Read More
