Hello again, Friends! I hope everyone has been enjoying the beautiful (and sometimes unusual) weather here in Colorado. There is plenty to do in and out of the city as Spring rolls into Summer – if you’re not sure what events are in town, I always include a few in each of these emails. I’ve moved the two featured events this month to the top to highlight them.
As for the housing market, inventory rose by 2.3%, which is to be expected, but even with the increase in seasonal inventory the Denver metro is in need of more inventory. April saw 7.91% LESS homes sold than March, though that trend is unlikely to continue as we head into the busiest time of the year.
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.
Happy March, everyone! As always, I hope your year has been good to you so far and have promising days ahead. The featured article for this month is how home ownership is your best bet against inflation, a conversation everyone has been having this year. Beyond being a safe investment, there are many benefits to owning your home. Curious about home ownership or how your home may have increased in value over the years? Don’t hesitate to email me – I’ll be happy to chat!
I hope everyone had a great January and start to 2023. Stay warm and safe out there this winter – it’s been cold and icy.
I put together a flyer below that highlights a few of the ways I can be of help. Don’t hesitate to reach out via email, phone, or even text. Thank you!
Welcome to 2023, friends! I hope you all had a pleasant 2022 with friends and family. It’s a brand new year and it’s always an interesting time in the real estate world. Prices and inventory are usually down until late Spring, and days on market is generally up. It’s a great time for buyers to find the right home and sellers to find the right buyer, as there isn’t as much of an urgency in the Winter. Last month we saw average closing prices decrease 2.69% and median close prices decrease 1.42%. This tracks with the decrease in inventory and a general competitive edge that buyers have during colder seasons.
As 2022 winds down and December comes to end, it’s always a great time of year to pause and reflect on the good, the bad, the comfort we felt, or the struggles that we have overcome or are currently battling. It’s always helpful to find a community that you can celebrate and share burdens with, so it is my hope that you have found one this year – whether it is family or friends, online or in-person. I am thankful for those in my life and wish you all a Happy Holidays! If you would like to chat, don’t think twice, just pick up the phone and give me a call – I’ll be happy to talk about anything you may need!
The snow and cold have finally arrived – I hope you received my Winter Home Checklist in the mail to help you prep your home. I send this out each season. Let me know if you didn’t receive one and I would be happy to send one your way! There’s a lot of maintenance to be done to your home each season, it’s easy to let something critical fall through the cracks. With that reminder, let’s take a look at the current state of the housing market.
Spooky season is finally here, something I’m sure all of you with (or without!) little ones have been looking forward to all year. The leaves are changing, the weather is cooling, and the fun decorations are being put up around town. In contrast to the excitement of Halloween, the real estate market has given us no surprises in the last month. Inventory is up and homes are on the market for longer before being sold – both seasonal indicators and give some relief to those looking for their dream home. Prices, however, are still creeping up in most of the Denver Metro Area, continuing to build equity for current homeowners – leading to favorable conditions for both buyers and sellers.
With Colorado’s slow transition into autumn started, we will notice the housing market changing as well. We saw drops in most categories last month, including a 4.39% reduction in the average close price in the Denver Metro Area. As fall approaches, Buyers will be more patient and have more options, and Sellers may need to take a second look at pricing their homes for sale. It’s difficult to predict how the housing market will look in a few months, but higher interest rates will continue to curb the housing demand as these rates directly correlate to monthly payments.
For the fifth month in a row active inventory in the Denver Metro area has risen. Pair that with a 3.33% average close price reduction last month and we are showing more signs of a potential buyer’s market on the horizon. Prices are still up 11% year-over-year, but this is promising news for those looking to find their home here in Denver. The market is normalizing.
Here are a some useful resources that you can download. We will continue to update these.