The Fed met yesterday,as expected there was no rate increase for now. The Fed has said it expects to raise rates 3 times this year.
The average sales price for January single family detached homes came to $425,054. and $284,788 for Condos and Townhomes.
( Data provided from REColorado for Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)
We will be hosting an Open House this Sunday Feb. 5 from 11:30 – 3:30
4890 S. Inca St. Englewood Colorado for more details and pictures click here.
As of January 4th, 72% of the single family detached homes priced under $460k were under contract!!! For homes priced under $350k, 79% of them are under contract! WOW!!! Our market only continues to get tighter and tighter. Thus, prices can only go up, up, up!
If the Real Estate market was a Super Market here is an analogy for what a super market would look like…..imagine walking into King Soopers and 79% or 4/5 of the aisles are closed off because the stores’ shelves are bare. Basically, only the ends of the stores have anything to sell. Thus, only the bakery, the butcher and the produce sections are open. If you want soup, cereal, pasta, frozen food, condiments, milk, butter, cookies, chips, paper towels, etc. the store is out of inventory and there is no ETA for delivery by truck of any of these items. That’s what our real estate market is like.
(by: Lonnie Glessner)
In the Denver Metro area the average sale price in November was $384,858 a 2% increase from October. This includes both single family attached and detached homes.
( Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)
Regardless of increasing prices, pending home sales continued to rise in October. Demand remains strong and inventory remains tight across much of the nation.
Construction spending in October increased to a 7-month high, driven by the residential sector. Overall, combined spending was up 3.4% over the previous year.
CaseLogic forecasts housing prices will rise 5.3% by next August. The increase would see home prices hit a new peak in 2017.
In the Denver Metro area the average sale price in September was $375,314 this includes both single family attached and detached ( Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)
There was a slight rise in active inventory of 1.10% year over year (for the Denver metro area-single family and condos).
The strong labor market has home buyers feeling more secure than ever. More than 73% of those polled were not concerned with the possibility of losing their job.
In the Denver Metro area the average sale price in August was $377,551 this includes both single family attached and detached.
The trend in new home construction is for more bedrooms. Homes with 3 or fewer bedrooms have decreased, while homes with 4 or 5 bedrooms have increased.
Quick 2016 Colorado market snapshot – Median sale prices for single family homes was $345,000, this is up 8.8% from June of 2015. Town-homes and Condos had a median sales price of $246,000, up 11.8% from June of 2015. Monthly supply overall for both types is down 30% from last year in June. Sellers were able to capture 100% of the list price in June of this year. Average days on the market for homes in June of 2016 was 52 days. Keep in mind that this is for all of Colorado not just Denver.
