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1/16/2013
1/09/2013
End of the Year Proved to be Strong Seller's Market Within Denver Metro Area
Lower Inventory And Fewer Days On The Market Drove Prices Higher
January 7, 2013
According to the latest data from Metrolist®, the provider of REcolorado.com a comprehensive Colorado real estate search platform, the Denver housing market boasted strong sales late in the year, with 3,400 homes sold in December alone.
Denver is one of a growing number of metropolitan areas across the country now considered a seller's market. In both November and December, the number of homes sold, under contract or pending settlement outnumbered those available.
"All over the country, home sales in the winter months proved to be a bright spot in the headlines," observed Kirby Slunaker, Metrolist President. "The average sales price for a Denver-area closing in December was $289,926, a noticeable jump from November's average prices."
January 7, 2013
According to the latest data from Metrolist®, the provider of REcolorado.com a comprehensive Colorado real estate search platform, the Denver housing market boasted strong sales late in the year, with 3,400 homes sold in December alone.
Denver is one of a growing number of metropolitan areas across the country now considered a seller's market. In both November and December, the number of homes sold, under contract or pending settlement outnumbered those available.
"All over the country, home sales in the winter months proved to be a bright spot in the headlines," observed Kirby Slunaker, Metrolist President. "The average sales price for a Denver-area closing in December was $289,926, a noticeable jump from November's average prices."
1/04/2013
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Whimsy Meets Function in This Pantry Redo
It’s a brand-new year — and a great time to reinvent your pantry. Every Thursday this month, we’ll feature an awesome DIY pantry makeover to inspire your own transformation. At the end of January, vote for your favorite at HouseLogic! Read -
6 Gardening Resolutions I Swear I’ll Keep This Year
Every year I resolve to be a more diligent gardener: This year, I mean it. Read -
7 One-and-Done Resolutions to Start the New Year Right
Forget resolving to make lifestyle changes that you’ll abandon by February. We’ve got New Year’s resolutions for your home that you can achieve in one step. Read
Visit houselogic.com for more articles like this.
Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®
8/14/2012
Monthly Economic Summary for Residential Real Estate
BY: Article and data provided by: Metro Denver Economic Development Corporation (Metro Denver EDC)
Following the typical seasonal slowdown, Metro Denver existing home sales declined between June and July. Total Metro Denver home sales through the first seven months of the year, however, were 16.8 percent higher than sales reported during the same months of 2011. Although the housing market is stronger compared to last year, a shrinking housing inventory continues to limit buying opportunities. However, analysts say historic affordability continues to keep buyer interest strong despite ongoing difficulties in securing financing. Total unsold inventory for all of Metro Denver in July was a substantial 38 percent below the unsold inventory available at the same time in 2011.
Despite the month-over-month decline in existing home sales, stronger home sales overall are helping to support higher home prices. The July average sales price for Metro Denver's single-family homes was up 4.8 percent over-the-year, and the average price for condominiums was up 24.3 percent.
The pace of new filings in Metro Denver is still on the rise as banks continue to clear their backlog of inventory. Metro Denver public trustees filed four percent more foreclosures through the first six months of 2012 than they filed during the same period last year but was 29 percent lower than the count recorded in the first half of 2010. Officials with each of the seven counties except Boulder reported year-to-date new filings that were at least 1.5 percent above comparable 2011 numbers.
Metro Denver officials issued 84.8 percent more residential building permits in June than they did in June 2011, a sign that new home construction is on the rise. Building activity for detached single-family homes and apartments continued at a measured pace, while permit activity for condominiums and townhomes was also up over-the-year.
The total count of Metro Denver building permits pulled through the first half of the year was 68.5 percent higher than the number pulled during the first six months of 2011. Notably, total building permit issuance for multifamily projects rose 173.1 percent between the first six months of 2011 and 2012.
Data from the Denver Metro Apartment Vacancy and Rent Survey show the region-wide average apartment vacancy rate in the second quarter (4.8 percent) was the lowest reported since early 2001. Second quarter vacancy rates around the region ranged from 3.6 percent in the Boulder/Broomfield area to 5.5 percent in Arapahoe County.
These lower vacancy rates have also pushed rental rates higher. In fact, analysts say the demand for rental properties has begun to outpace new construction activity. The region-wide average rental rate in the second quarter ($980) was 7.1 percent higher than last year's average rate, and rates around the region were up from last year's levels by anywhere from 2.3 percent in Adams County to 9.6 percent in the City and County of Denver.
Article and data provided by: Metro Denver Economic Development Corporation (Metro Denver EDC)
Following the typical seasonal slowdown, Metro Denver existing home sales declined between June and July. Total Metro Denver home sales through the first seven months of the year, however, were 16.8 percent higher than sales reported during the same months of 2011. Although the housing market is stronger compared to last year, a shrinking housing inventory continues to limit buying opportunities. However, analysts say historic affordability continues to keep buyer interest strong despite ongoing difficulties in securing financing. Total unsold inventory for all of Metro Denver in July was a substantial 38 percent below the unsold inventory available at the same time in 2011.
Despite the month-over-month decline in existing home sales, stronger home sales overall are helping to support higher home prices. The July average sales price for Metro Denver's single-family homes was up 4.8 percent over-the-year, and the average price for condominiums was up 24.3 percent.
The pace of new filings in Metro Denver is still on the rise as banks continue to clear their backlog of inventory. Metro Denver public trustees filed four percent more foreclosures through the first six months of 2012 than they filed during the same period last year but was 29 percent lower than the count recorded in the first half of 2010. Officials with each of the seven counties except Boulder reported year-to-date new filings that were at least 1.5 percent above comparable 2011 numbers.
Metro Denver officials issued 84.8 percent more residential building permits in June than they did in June 2011, a sign that new home construction is on the rise. Building activity for detached single-family homes and apartments continued at a measured pace, while permit activity for condominiums and townhomes was also up over-the-year.
The total count of Metro Denver building permits pulled through the first half of the year was 68.5 percent higher than the number pulled during the first six months of 2011. Notably, total building permit issuance for multifamily projects rose 173.1 percent between the first six months of 2011 and 2012.
Data from the Denver Metro Apartment Vacancy and Rent Survey show the region-wide average apartment vacancy rate in the second quarter (4.8 percent) was the lowest reported since early 2001. Second quarter vacancy rates around the region ranged from 3.6 percent in the Boulder/Broomfield area to 5.5 percent in Arapahoe County.
These lower vacancy rates have also pushed rental rates higher. In fact, analysts say the demand for rental properties has begun to outpace new construction activity. The region-wide average rental rate in the second quarter ($980) was 7.1 percent higher than last year's average rate, and rates around the region were up from last year's levels by anywhere from 2.3 percent in Adams County to 9.6 percent in the City and County of Denver.
Article and data provided by: Metro Denver Economic Development Corporation (Metro Denver EDC)
8/08/2012
7/08/2012
Denver Real Estate Market Continues to Sizzle
The latest data from Metrolist®, the largest real estate multiple
listing service (MLS) serving Colorado real estate agents, show June to
be another impressive month for Denver Metro area home sales.
With a 6% increase over last month's rising numbers, total sales for single family residences in the Denver residential market are now running 20% ahead of the same period last year. According to Metrolist, the provider of REcolorado.com, average days on market (DOM) fell another 8% to 72 days, a full 32 days shorter than June 2011.
According to Kirby Slunaker, President and CEO of Metrolist, the
fast-moving market is a function of rising demand and dramatically
shrinking inventories.
"We're nearing inventory levels that are about 40% under last year's available units while sales continue to run well ahead of 2011 figures," says Mr. Slunaker. "In other words, product that's priced right and ready to sell is moving quickly. We expect the Denver market to really sizzle this summer."
"With double-digit increases in prices and sales volume from last
year, I have to think Denver is among the better performing markets in
the U.S. today," says Mr. Slunaker. "The bottom line is we need more
available inventory for homebuyers to choose from."
With a 6% increase over last month's rising numbers, total sales for single family residences in the Denver residential market are now running 20% ahead of the same period last year. According to Metrolist, the provider of REcolorado.com, average days on market (DOM) fell another 8% to 72 days, a full 32 days shorter than June 2011.
"We're nearing inventory levels that are about 40% under last year's available units while sales continue to run well ahead of 2011 figures," says Mr. Slunaker. "In other words, product that's priced right and ready to sell is moving quickly. We expect the Denver market to really sizzle this summer."
The Metrolist report also showed prices in the Denver metro area on the
rise. The average sales price for single-family homes rose to $297,597
in June, a 5% jump from May and a 12% increase from last year. Excluding
condos, the average home sales price in the region was $324,497 for the
month.
7/06/2012
June Reality Check
In real estate, as in many things in life, size and experience do matter. Buying or selling a home is often the single largest financial decision any of us will make in our lives. It’s an extremely complex and time-consuming process, with lots of exciting opportunities but plenty of potential pitfalls as well. This is no time to take a chance by working with an amateur.
Especially in today’s challenging market, it pays to use the best real estate company in the field. Hiring the top real estate brokerage means you’re working with the most successful company in your local market, whose agents have a long and proud track record of efficiently and effectively marketing properties and helping consumers just like you find the home of their dreams.
And in Colorado, that undisputed real estate market leader is Coldwell Banker Residential Brokerage.
The Denver Business Journal and RISMedia recently ranked Coldwell Banker number one among all residential real estate companies along the Front Range for the 14th consecutive year.
Not only was Coldwell Banker Residential Brokerage ranked the top brokerage again, but perhaps even more impressive, the company increased its total sales volume and total number of transactions in 2011 over the previous year, a notable accomplishment by nearly any measure when considering the challenging real estate market and overall economy.
The company completed more than $2.3 billion in sales and represented more than 8,200 buyers and sellers last year. And through its internationally renowned Coldwell Banker Previews® program, the company is widely recognized for its expertise in the luxury housing market.
This kind of professional success doesn’t just happen. It’s earned by the hard work of the most experienced and savvy Realtors in the business who work for Coldwell Banker Residential Brokerage. Their proven track record is just one reason why buyers and sellers, year after year, come back to Coldwell Banker for all their real estate needs.
Because Coldwell Banker’s sales professionals have handled so many transactions, they truly understand the ins and outs of the local real estate market. Our Realtors not only know the homes and specific neighborhoods in our communities, they often know the sellers and potential buyers, the local schools, community parks, commute times and even some of the best restaurants for great pasta!
Working with the industry leader also means having the networking advantages that small brokerages can’t touch.
The real estate business has changed so much over the years. While the buyer of your home may still come from across town, there’s also a decent chance that he or she may come from across the country – or even across the Pacific or Atlantic. Having the local, national and international reach of Coldwell Banker expands your marketing potential in an increasingly global economy.
Coldwell Banker Residential Brokerage has nearly 1,000 sales professionals working in 15 offices from Pueblo to Fort Collins and everywhere in between. And through the Coldwell Banker organization, local agents are connected to 85,000 Realtors in 3,100 offices across the country and around the world.
Some other advantages of working with Coldwell Banker Residential Brokerage, the market leader:
- The best agents in the business. A real estate company is only as good as its individual agents. Year in and year out, our agents often rank among the top Realtors – not just in our local market, but throughout the United States. Nationally, Coldwell Banker scooped up more spots than any other brand in this year’s prestigious Wall Street Journal/REAL Trends ranking of the top 1,000 Realtors in America. A total of 218 Coldwell Banker agents made the list for sales volume and number of transactions, fully one out of every five honorees!
- Superior professional experience. Our agents are some of the most seasoned veterans of the Colorado real estate market. Many have helped consumers buy and sell dozens or even hundreds of homes over the years. Our highly skilled agents have managed to succeed for their clients in good times and in bad, in booming markets and in recessions.
- Local market knowledge. There’s an old saying that "all politics are local." The same can be said about the real estate market. It doesn’t matter what the national real estate market is doing; what matters most is what is happening along the Front Range. You need a real estate broker who knows your market and the homes within your price range. Coldwell Banker agents know the ins and outs of different neighborhoods, how best to effectively market your home or which areas might provide you with the best home to suit your needs and budget.
- A leader in corporate relocations. Business relocations account for a number of homebuyers in many cities. Few real estate companies generate more corporate relocations in Colorado than Coldwell Banker Residential Brokerage. Each year, we assist more than 4,000 relocating buyers and sellers. Our connections mean we’ll show your home to corporate transferees that most real estate companies don’t have access to.
- Incomparable marketing support. Coldwell Banker Residential Brokerage provides critical exposure of your home through a sweeping, aggressive local and regional advertising presence. The power of global advertising with the most recognizable brand name in real estate puts your listing in front of an ever-increasing pool of potential buyers.
- Cutting-edge Internet exposure. Nearly nine out of 10 homebuyers begin their real estate search online. It’s no longer enough to use traditional print and direct mail advertising to sell a property. Coldwell Banker offers not just one but a host of popular websites to match buyers and sellers. Besides ColoradoHomes.com and ColdwellBanker.com, we tap into sites hosted by the New York Times and Wall Street Journal, REALTOR.com, Trulia.com, Yahoo Real Estate and more than 600 additional websites around the globe.
- Superior training for agents. The real estate business is a very challenging and complex field that changes all the time. That’s why it’s critically important for agents to stay on top of the latest professional and marketing issues. Our agents receive comprehensive training in all aspects of the real estate transaction process. By receiving the most up-to-date professional education, our agents make sure you receive the very best possible support to meet your real estate goals.
Buying or selling a home is never easy. But by working with the best real estate company in the industry you can make the experience a whole lot easier. If you’ve been thinking about buying or selling a home, now’s a great time to jump into the market. And Coldwell Banker Residential Brokerage professionals are ready to help you get the most for your property or find the home of your dreams. Just give me a call and we’ll get started today!
6/29/2012
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