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.

• 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)