Since Denver homes were only on the market for about eight days in March, which was down from 16 homes the year before, CAR Spokesperson Kelly Moye offered tips to those trying to buy a home. Finding an experienced REALTOR® was her first piece of advice; followed by making earnest money nonrefundable; spending 20% over the asking price and allowing for that amount in the...
There could be the very beginnings of a trend moving to a more sustainable market. “The number of showings we’re seeing on our listings is down,” CAR Spokesperson Kelley Moye said. “So, where we would see maybe 30 showings on a weekend, now we see 12 or 15. Instead of 10 offers, we may see four or five.” She says that because of changing interest...
Prices for single-family homes in Colorado Springs rose 17.1% from 2021, and the days listed on the market decreased by 7.7% from March last year. CAR Spokesperson Patrick Muldoon said “Low inventory and high demand were going to continue to cause the same hikes we had seen. As the snowy season came to an end and spring was nearing, there was almost nothing that could...
The 279 homes sold in Pueblo in March made for an extra $89 million in profits for sellers, and interest rate increases have not had a huge impact on sales. Sales prices were up 24% over last year and there’s not much change on the horizon, said Dave Anderson, a CAR Spokesperson. “Lumber prices are coming down only a hair, supply chain issues continue, and...
CAR spokespeople are guessing when metro area average sales prices will hit the $1M mark. Matthew Leprino of Denver used CAR’s Market Trends to make his prediction. “With only an 8.84% increase required for the average to top $1 million,” he said, “at the current monthly rate of monthly appreciation at 3.2%, we will reach that milestone as we celebrate...
Despite low inventory and fierce competition among home buyers, the popular “Coming Soon” Listings are still being used as an industry-standard tool for sales and marketing. The MLS supports the early listings and accompanying signs if they are posted no longer than seven days in advance. This is in accordance with NAR’s Clear Cooperation Policy to curb “pocket” listings to...
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...
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...