In February, CAR’s Market Trends showed that a home in Douglas County, Colo., is selling for a median price of $706,000, while Denver’s prices are at $659,0000. Jeffco and Broomfield home prices are also higher than Denver. Adams County comes in with a lower price point at $550,000. Some speculate that low inventory in Denver and people’s ability to work...
Buyers are still determined to buy a home despite interest rate increases. “I think people realize later does not mean better,” said CAR Spokesperson Kelly Moye. “Later could mean worse. Our prices appreciated 25% last year. Those people who didn’t buy a year ago are kicking themselves today.” The Federal Reserve announced on March 17 that the interest rate would increase by a quarter percent...
Legislative Advocacy this Week at the State Capitol Halfway Through 120 days of Legislative Session We're now just over halfway through the legislative session and the general assembly will begin working on the state budget starting next week. The forecasts from the Governor's Office and the Legislative Council Staff both showed a higher risk of inflation and highlighted the high costs of housing in...
Habitat for Humanity of Metro Denver will receive its largest donation ever--$13.5 million—from author MacKenzie Scott. “It is a vote of confidence in the collective work of many people – homeowners, staff, board, donors, volunteers, and community partners,” said Habitat Director Heather Lafferty. CAR’s Market Trends showed the need for affordable housing: There were only 1,486 single-family homes listed for sale in the seven-county metro area...
CAR released its monthly Market Trends report for February. It showed the median home price in the Denver area is $555,548 which is up 20% from last year. Buyers are still looking for all price points. “Yes, there’s more competition,” said CAR Spokesperson Matthew Leprino, “and they (buyers) have to give up more concessions than they did in the past,...
CAR Market Trends for February 2022 showed Boulder and Broomfield Counties with 14% fewer listings than January while Fort Collins boasts 90 listings in early March, compared to 144 for all of February. Two CAR spokespeople shared that preparation is key no matter where you live. “In Boulder and Broomfield counties, the listings continue to disappear, and the buyers are still coming out of the woodwork...
The median price for condos and townhomes in Denver is growing at a slower rate than single-family homes. Condos and townhomes, a historically more affordable type of home, has still increased in price by 3.5%. And some condos are selling for 103.2% above the asking price. When that increase is compared to the same statistic for single-family homes at an increase of 20 percent, there...
https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – With the inventory of active listings down 40% to more than 70% in markets across the state compared to a year ago, potential home buyers are facing record-setting appreciation and median pricing in the face of all-time lows in active listings and months supply of inventory, according to the February 2022 Housing Reports from the Colorado Association of REALTORS®. Despite a month...
Two of CAR’s 2021-22 leaders were featured on different NAR podcasts this week. CAR Chair-Elect Natalie Davis spoke about the association’s role in creating opportunities for diversity, race, and inclusion, while CAR Past President George Harvey, gave his thoughts about the future of short-term rentals in resort towns. As part of NAR’s Drive podcast on Spotify, Natalie Davis discussed both national...
The popularity of multigeneration living is in flux throughout the nation, according to two recent reports. Colorado, along with Arizona and Nevada, had the largest increase in multigenerational households, which is defined by three or more generations who live in the same home. From 2014 to 2019, that increase went up 12.34 percent across the three states, according to a study from LendingTree. The NAR’s Home...