Hello Friends! We’re well into 2023 now and things are going to start moving quickly in the Real Estate world. Last month we saw a dramatic increase in housing inventory in the Denver metro area. As with every year, the market picks up steam in Spring and carries it all the way through to the end of Summer. This means more inventory, but also pairs with higher prices as more home buyers look for homes in the warmer months than any other.
Additionally, I want to thank you all for the ongoing trust you’ve given me over the years and hope that these newsletters and other resources I send provide you value. The 5280 Magazine awards just came out and I’m honored to be recognized as a 5280 Magazine 2023 Top Real Estate Producer in the Denver Metro area! Read the full article here: Mark Baker – 5280 Top Real Estate Producer. I’m also honored to be a 5280 5-Star Realtor for 10 years running. I look forward to serving my clients for many years to come with award winning service.
Market Insights by DMAR:
• Some buyers can put enough money down to request, receive, or even be proactively offered an ‘appraisal waiver’ from a lender. • Colorado homeowners, no longer protected by the Gallagher Amendment, face unprecedented increases in property taxes next year as the run-up in home prices during the pandemic works its way into the State’s tax base. • Senate Bill 77, Restrictions on Broker Engagement Contracts, passed. The bill was brought forth by the Colorado Association of Realtors to protect homeowners from predatory right-to-sell schemes. • After peaking in early 2022 at about 15 percent, year-over-year rent growth continues to fall and is now about four percent. • The 30-year fixed mortgage rate saw some relief in March after jumping one percent in February, dropping 6.94 percent to 6.57 percent. • Average active listings for March are 13,609 (1985-2022). • Record-high March was 2006 with 27,309 listings and the record-low was set in 2021 with 1,921 listings. • The historical average increase in active listings from February to March is 7.55 percent. This year’s increase of 19.53 percent represents the third largest percent change month-over-month.
Featured Local Business| Denver
Featured this month is PorchDrinking.com. Spring is the perfect time to hang out on your porch and share a brew and conversation with friends. Founded by Tristan Chan, PorchDrinking.com keeps you informed about “all things beer” and what friends share nation-wide about their favorites!
If you’d like your business to be featured in a future Newsletter, give me a call or email!
Local Events| Denver
The Colorado Rockies Schedule & Events One of my favorite Denver attractions is watching the Rockies play at Coors Field. Win, lose – it’s always an enjoyable experience and there are plenty of events coming up, including History Day, Healthcare Appreciation Days, a Peanut Allergy Friendly Day, and many others. Buy tickets and support the home team HERE.
Stanley Marketplace in Aurora With the longer days and warmer (mostly) weather on its way, taking a family trip to the Stanley Marketplace in Aurora is always a great way to spend an afternoon. With plenty of food, including the must-try Denver Biscuit Company, shopping, recreation, and wellness vendors, this fun location is highly recommended. More information HERE.
Real estate questions? Wondering how the market looks at the moment? Just want to say hello? Don’t hesitate to call me – I’d love to chat! Don’t forget to follow me on social media – click on the links below!