Local Pulse - June 2022

mark@5280core.com • 720.257.1541 • 5280core.com
  Local Events | Denver
Live Theater in Denver this Summer!
This Summer is full of fantastic theater and musical opportunities for Denverites. Moulin Rouge! The Musical, Pretty Woman: The Musical, Hadestown, and many others will make their way through Denver throughout the next few months. Don’t hesitate to pick up tickets for your family as these events are always competitive. Find more information here!

 
The Colorado Rockies are Back!
Civic Center Eats, is the annual food truck event brings a variety of Denver’s best mobile restaurants together for lunch throughout the summer. Come down to Civic Center Park any Thursdays from 11am – 2pm. The 2022 season is set to launch on May 19 and will run through the summer. Full lineup here!
  Market Update | June 2022
Last month we saw active inventory shoot up 13.98%, a welcome sight for many weary buyers. Due to increasing mortgage rates, the Denver Metro Area saw an average and median close price reduction, if only slightly. Unfortunately, it’s still a very tough market for buyers – not only in terms of competition, but in the actual cost of housing here in Colorado. According to NAR’s Chief Economist Lawrence Yun, purchasing a home now is 55% more expensive than it was a year ago.
Market Insights by DMAR:

With interest rates going up, the velocity of bidding wars is slowing down on many homes in the Denver metro market.
The “suburbs” appear to be cooling off where we see single-family homes in the $600,000 to $700,000 price range. Showings are noticeably decreased and open houses are on the rise.
People are staying in their homes longer post-2008. Housing tenure ran at five to seven years from 1985-2007 and now is 11-13 years from 2008-2022. The Baby Boomers are not selling their homes en masse, and we have more investors providing shelter for renters than before.
Any slowdown caused by higher mortgage rates will make the market a little easier for patient buyers. The market could be in for a shift this year as it copes with higher mortgage rates.
The average active listings for May are 15,199 (1985-2021).
Record-high May was 2006 with 30,457 listings and the record-low was set last year with 2,075 listings.
  Featured Local Business | Denver
Our featured business this month is Single Track Construction Services LLC, a Commercial General Contractor company run by James O’Toole. Single Track Construction specializes in Commercial Construction, School Construction and Renovation, Group Up Construction, and TI Construction. If you are in need of any of these services, contact owner James O’Toole directly at 303.828.6376.
If you’d like your business to be featured in a future Newsletter, give me a call or email!
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!
Facebook
YouTube
Website
LinkedIn
Email
mark@5280core.com • 720.257.1541 • 5280core.com
Copyright © 2022 5280Core, All rights reserved.

You may also interested in:

Local Pulse - June 2025

Denver, as the 12th-fastest growing U.S. metropolis, offers significant real estate investment opportunities due to strong market demand and rising home values. With increasing inventory and more realistic asking prices, investors can find promising properties for substantial returns....Read More...

Local Pulse - May 2025

Growing the equity in your home is one of the smartest financial moves you can make. As your equity increases, you gain greater financial flexibility, whether through improved borrowing power, the ability to refinance under better terms, or a larger profit if you decide to sell....Read More...

Local Pulse – April 2025

In 2025, home remodeling trends will prioritize sustainability, smart home integration, multifunctional spaces, and outdoor living. Additionally, there will be a strong focus on using natural materials, incorporating vibrant colors, and embracing minimalist designs....Read More...

Local Pulse - March 2025

mark@city2summitrealty.com | 720.257.1541 | www.city2summitrealty.com Sellers taking advantage of “coming soon” status in the MLS receive more traffic on opening weekends than those who do not. Denver’s Loretto Heights Theater

Local Pulse – February 2025

mark@city2summitrealty.com | 720.257.1541 | www.city2summitrealty.com Investor Insights |   Building Wealth Through Real Estate Investment Investing in residential property is one of the most effective ways to build long-term wealth.

Local Pulse – January 2025

mark@city2summitrealty.com | 720.257.1541 | www.city2summitrealty.com An increase in showing activity over the holidays suggests that more buyers are entering the market and are ready to start transacting real estate in

Local Pulse – December 2024

May your home be filled with the warm glow of love and happiness the season brings. Here's to a splendid holiday season and a New Year filled with peace and joy!...Read More...

Local Pulse – November 2024

I'm frequently asked whether it’s better to renovate, add a pop-top, expand, or sell/buy a new home...... The answer? Each situation is unique. It depends on factors like cost, timing, functionality, and your specific needs....Read More...

Local Pulse – October 2024

Now is the perfect time to plan your home sale, using fall’s vibrant backdrop for stunning photos. This will help your listing stand out and attract buyers, giving you a competitive edge. ...Read More...

Local Pulse – September 2024

Deed theft can be alarming but is often misunderstood. Forged deeds don’t change ownership, and monitoring services only notify you after fraud happens. You can check county records for free, and no service can fully prevent title theft....Read More...