Market Snapshot

March 2020 Market Update

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Good News!  Buying your next home just got cheaper!!???  Investors are looking for safety with the news of the corona virus and have fled for safer ground  of treasury bills.  The result a sharp improvement for mortgage rates!!. 

Rates are in the 3% rate…With that being said here is my Denver Metro area market update. In the last 30 days there have been 2,229 new homes listed for sale and just over 1,934 home sales in the Denver Metro area. So not many people listing we are back down to  1 months of inventory available.  The average time homes are currently taking to sell here in the Metro Area is 32 days.  The average sales price is currently $457,896 average for both attached and single family homes.  

I have successfully helped families accomplish their real-estate goals here in the Denver Metro area.  The only way I have been able to accomplish and achieve this level of success is by providing world class service and always putting clients’ needs first. If you are considering selling your home or just curious about your home’s value contact me at 303-762-9848.

December Market Updated

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The average sales price for November single-family detached homes came to $458,770 and $322,374 for Condos and Town-homes.  This is not much different than last month and the overall average continues to stay in the 400K range.

( Data provided by REColorado for Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)

June 2017 Housing Market Minute

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Housing Market Minute

  Minutes released from the Fed’s May FOMC meeting support a possible rate hike in June.  However, chances of a September rate hike went down.
The average sales price for May single family detached homes came to $483,376 and $319,017 for Condos and Town-homes.  This is a steady increase month over month since the beginning of the year.
( Data provided from REColorado for Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)

In my last issue I talked about job growth being one of our factors for the increase in housing prices.  With job growth comes population increase, with population increase come housing demand.  The US Census Bureau  just released population growth figures for the year that ended July 1st, 2016. For that year the City of Denver added 13,028 net new people to its population, now totaling 693,060 people. Denver ranked #13 among large cities for the number of people added.
Worried about PMI (Private Morgage Insurance)? I work with a lender that has programs with 3% or 5% down on conventional loans. These programs require NO mortgage insurance by using Freddie’s Home Possible Advantage program with 3% down and their Home Possibly program with 5% down.  You do need to make < $80,100 or the property does need to be in an area that is not income-restricted.   Call me with questions!  HAPPY SUMMER!