Local Pulse September 2023

mark@5280core.com • 720.257.1541 • 5280core.com
  Market Update | September 2023

Greetings once again, my Friends! I hope you’re enjoying the pleasant September weather here in Colorado. As we transition from summer to the early days of autumn, there’s still an array of exciting activities to partake in both within the city and its surrounding areas. I’ve taken care to select a couple of noteworthy events for you to relish this month.

Now, let’s turn our attention to the housing market. In September, we’ve observed a noteworthy surge of 8.87% in active homes, signifying a substantial increase in available properties. However, home sales have experienced a slight dip of 2.02%, which is a common seasonal trend during this time of year. It’s a pivotal period as we move towards cooler months, and with interest rates holding steady, we anticipate a steady increase in market activity.

It’s worth noting that properties in prime condition and those priced competitively continue to attract attention. In fact, some are going under contract swiftly, with multiple offers on the table. Keep an eye on the market, especially if you’re considering a move.

Looking forward to a fantastic September filled with events, cooler weather, and perhaps a few surprises along the way! Do let me know if there’s anything specific you’d like to discuss or inquire about.

  Local Events | Denver
LoDo Craft Beer Tour
Explore Denver’s craft beer scene on the Lodo Craft Beer Tour! Taste 10+ finely brewed beers while discovering the city. Learn about Denver’s beer culture origins and visit unique breweries. Uncover hidden secrets and stories. For an unforgettable blend of brews and history, book now! Click HERE for Tickets!
*Must be 21 & over.*
Denver Oktoberfest
The Denver Oktoberfest, a beloved two-weekend tradition in Downtown Denver since 1969! From keg bowling to stein hoisting, live music, and much more, there’s fun for both Oktoberfest enthusiasts and first-timers. Get ready to raise your stein, don your lederhosen, and be part of the festivities! Click HERE for Tickets!
        Market Insights by DMAR:
  • While the metro real estate market is slowing due to higher interest rates and
    normal seasonal patterns, prepared buyers are still winning on hotter listings.
  • Boulder City Council voted to raise the city’s occupancy limits. The new law will
    increase the city s limits on how many unrelated people can live together from
    as few as three to five across much of the city.
  • There has been a frenzy of Colorado new business formations this year. Filings
    are to 39.1 percent in the second quarter compared to last year.
  • Per Freddie Mac, the corporate forecast for the next twelve months has house prices rising by 0.8 percent and an additional 0.9 percent over the following 12 months, consistent with their projection of a gradually softening labor market.
  • Denver still ranks as the fourth -strongest house market in the Nation
  • Almost half of homeowners have over 50 percent equity in their homes highest point in four years.
  • Wealthy millennials are moving away from California and New York, instead opting for Florida, Texas or New Jersey – Colorado ranked number four.
  • Rates jumped to 7.5 percent in August only to return to seven percent on the last day of the month.
  • The average number of active listings for August is 15,900 (1985 -2022)
  Featured Local Business | Denver
Featured this month is Solid Ground Flooring, LLC, locally owned and operated by Laban Matthews. Solid Ground Flooring specializes in all things flooring, from bathrooms to kitchens to everything in-between. You can reach out directly to Laban for a quote at 303-550-1996 or solidgroundflooring@live.com.
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!
mark@5280core.com • 720.257.1541 • 5280core.com
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