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Local Pulse – January 2022

mark@5280core.com • 720.257.1541 • 5280core.com

  Market Update | JANUARY 2022
Happy New Year friends! I hope you had a wonderful 2021 and are looking forward to an even better 2022. This is the year you meet your goals, whatever they may be, and I believe we’ll get there.

2021 saw interest rates remain low and buyer demand stay high. We saw many records broken last year and 2022 could be more of the same. At the start of 2022 the Denver metro area only had 1,477 active properties on the market, 11,175 fewer houses than normal. According to the Colorado Association of REALTORS® Housing Report, the Denver Metro Area had only 0.5 months supply of inventory at the end of November 2021, meaning that if homes sold at the current rate and no new houses went on the market, we would run out of homes to sell in half a month. Historically, the metro area hovers around 2 full months of inventory.

If you are looking to sell your current home or investment now could be the time. Demand is outpacing supply more now than ever, helping me drive your profits extremely high! Though home inventory is low it doesn’t have to be a headache to find a home. Mortgage rates are still low and homes can still be found if we are strategic in our search and in our offers. Data shows your chances of landing the home you want rise dramatically with the assistance of an experienced REALTOR® on your side, and my testimonials will let you know that I would be an asset in your search. If you’ve got some additional questions about the market let me know!
Market Insights by DMAR:

Some good news for homebuyers: on average, 2.8 percent of homes for sale during the four-week period that ended December 26, 2021 had a price drop each week, up 0.5 percentage points from a year ago.
Approximately 991 homes were destroyed after the Marshall and Middle Fork fires blanketed the Denver suburbs and Boulder County. An additional 127 homes were damaged by fire. Officials continue to assess the full extent of the damage but have said there were 1,778 homes within the burn area with a total value of $825 million. Most of the damage took place in just half a day. We may see our housing market get tighter than it already was as people need to find other housing.
The median rent nationwide increased 19.7 percent year-over-year. That’s six times faster than pre-pandemic. Denver’s rent is up 17.7 percent, which is almost a $300/month jump. That same $300 would give a buyer $70,000 more in purchasing power.
As the Zillow Offers collapse has demonstrated, pricing is a true potential competitive advantage for iBuyers. Getting it right is a prerequisite for success while getting it wrong can lead to catastrophic failures.
Supply chain issues have plagued manufacturers and retailers across industries, from home builders to toy stores. Appliance sellers are no exception and many buyers are waiting more than six months for new appliances to be delivered.
The average active listings for December is 12,652 (1985-2020).
Record-high December was 2007 with 24,603 listings and the record-low was set this year with 1,477 listings.
  Local Events | Denver
Denver City Pass!
This year, consider obtaining a Denver City Pass, which allows discounted access to some of Denver’s best attractions, including the Downtown Aquarium, Denver Zoo, Denver Museum of Nature & Science, the Denver Botanic Gardens, Denver Art Museum, and more! For more information, check HERE!
Denver ARTcade
Enjoy an artistic arcade experience curated by Denver artists! Each of the ARTcade games were designed or customized by these artists, including pinball tables, claw machines, gashapon-style vending machines, a coin pusher, and more. Prizes, both in the claw machines and at the redemption booth, are also provided by a collection of talented artists. Examples of prizes include enamel pins, coloring books, miniature paintings, jewelry, tea towels, art prints, small sculptures, apparel, and much more. Find more information HERE!
  Featured Local Business | Denver
Featured this month is Colorado Custom Window Designs, who have proudly served the Denver metro area since 1994. Colorado Custom Window Designs will bring the store to YOU, so you can find the right custom window treatment, hardware, fabrics, and more, in the comfort of your own home. Their team of knowledgeable and friendly staff will help you coordinate design solutions that fit your style and budget. Give them a call today at 303-840-8790 to get started on your project!
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!
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mark@5280core.com • 720.257.1541 • 5280core.com
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