Local Pulse ‐ December 2023

Hey, Friends! With winter painting our surroundings and the ski slopes bustling, there’s a world of excitement to explore in and around the city. I’ve cherry-picked some amazing events for you to enjoy this December.

The Real Estate Market has seen a run of demand to finish the year as interest rates have plunged nearly a full percent from 1 month ago. Expect spring buying season to start a bit early with a drive up in prices next year as demand picks up. If you’re on the edge of selling or buying and we haven’t already discussed strategy make sure to give me a call as 2024 is likely to have a lot of pent up demand and we’ll want to position you for the right situation and opportunities.

If you want to discuss any specific topic, feel free to reach out. Wishing you a delightful holiday season, brimming with joy and adventure!

• Homes in excellent condition and appropriately priced continue to attract offers within a week or two of listing. Conversely, homes in need of renovation tend to linger on the market, waiting for buyers who often hold out for two to three price reductions before making an offer.
• In 2022, 21.2 percent of Colorado’s workforce worked remotely, six percentage points higher than the national average. The figure declined by 2.5 percentage points as some returned to in-person work.
• Denver ranked as the fifth most popular city for Millennials relocating in 2022, constituting 40.78 percent of the city’s total population.
• Mortgage purchase applications demonstrated that even small rate movements can significantly impact buyer activity. In November, mortgage purchase applications increased by 16 percent as rates dropped by 0.56 percent to 7.13 percent.