The metro area experienced a 50% increase in active listings and a 72% increase in single-family home inventory for July 2021. There was a slight decrease in the median sale price to $723,750 in July 2022 from June 2022, which was $750,000. "Before you read that last number and wonder if that means prices are decreasing, the answer is a resounding...
From June to July 22, the number of single-family homes is up by 10% and for condos, that number is 11%. “It is like we had a really hot summer day and a few days later, a blizzard,” said CAR Spokesperson and Colorado Springs REALTOR® Patrick Muldoon. “One weekend we were watching buyers toss everything they could at a house...
As of July 2022, the metro area has a 1.3 -month supply of single-family homes for sale, which has increased from the .3 months of supply available in February. CAR Spokesperson Matthew Leprino says, “Things have leveled out. Things have calmed down. The best analogy I can give you is that the market just took a huge, deep breath. It’s...
Cortez REALTOR® and 2023 CAR Chair-Elect Jason Witt (who will serve as CAR Chair in 2024) noted some interesting facts about his community and the role of REALTORS® in their own communities, as well as his role as an incoming leader for the Association. Witt says REALTORS® can play an important role in building health and sustainable communities, and he hopes...
Many factors are at play in what CAR spokesperson Chris Hardy says is a boom-start-boom market. Consumer’s competing offers in March and April were followed by a housing market break and family vacations in June. CAR’s Market Trends report for June shows a different story than what REALTORS® are seeing in the field. In 2021, there was only two weeks’...
Since the real estate market has cooled just a bit in June, as reported by CAR’s Market Trends, REALTORS® are left to prognosticate about the future of the market. “The analogy that really conveys to us what’s happening is just that we’ve hit the summit,” said CAR Spokesperson Matthew Leprino. “We’ve climbed to the top of the mountain and we’re...
The number of single-family homes and condo townhomes for sale increased 44% from May to June 2022, but median home sale prices are up more than 10% both locally and statewide. REALTORS® around the Denver-metro area provide some reasons why and explain how buyers are adapting to a new real estate market. “As fears of inflationary pressures reach households through the...
Statewide, home prices in June 2021 decreased by 2% from last year at this time, according to CAR’s June Market Trends Report. But the better news is that the number of homes for sale is increasing. “Buyers need to know that for the first time in a long time they have an opportunity to think about a home purchase,” said...
To ease the minds of prospective homebuyers hearing the news of a three-quarter interest Rate hike, CAR Spokesperson Matthew Leprino had an explanation. He said some of the increase was already figured into mortgage rates, which had gone above 6% before the Fed made the announcement and had decreased a small amount the next day. “…as these changes occur, the...
Colorado REALTORS® noticed a new turn in CAR’s Market Trends: “I think we hit a peak in late March or early April,” said Aurora REALTOR® and CAR Spokesperson Sunny Banka, who is getting about 25 emails a day about home price reductions. “What I’m paying attention to is how drastically the average price has changed,” said Denver REALTOR® and CAR...