CAR’s Market Trends Research reported that in Colorado Springs, the median price of homes sold in October increased by 4.3% to $465,000 since last year at the same time. Compare that number to the number of home sales, which decreased by 33%, from October 2021. Colorado Springs REALTOR® and PPAR President Anne Kidd has one option for sellers: "You can't change...
Sellers, still looking to cash in, face a more patient buyer pool https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – Rising interest rates and inflation are helping to magnify what is typically a fall season slowdown, according to the October 2022 Market Trends Housing Report from the Colorado Association of REALTORS®. New listings for metro-Denver single-family homes fell just over 25% from September to October and are...
Although home loan interest rates have increased, the real estate market allows prospective home buyers and sellers to take more time with housing choices. The interest point hikes are significant, Moye said. A couple who could afford a $700,000 house could now only afford $580,000. There have been a number of rate increases from May 2022 to September 2022 totaling...
September Market Trends statewide showed that sales for single-family homes decreased by 24.89% in September compared to September 2021. The number of listings that sold last month decreased by 24.69% year over year. “The best news is that we are seeing the market start to balance in all price ranges,” according to CAR Spokesperson Sunny Banka who works in the...
Conditions drive inventory and opportunity for an increasingly skeptical and cautious buyer pool https://coloradorealtors.com/market-trends/regional-and-statewide-statistics/ ENGLEWOOD, CO – As cooling temps lead to dramatic changes in foliage across Colorado’s iconic mountain forests, rising interest rates and a growing list of economic challenges and uncertainties are creating their own dramatic changes in the state’s housing markets, according to the September 2022 Market Trends Housing...
Home prices have appreciated 11% since the beginning of the year according to CAR’s Market Trends report for August 2022. CAR Spokesperson Kelly Moye says, “A housing recession would mean more inventory than demand from buyers, so your supply and demand would be out of whack--it would be out of balance. And prices would be going down…” The recurring interest...
CAR’s August Market Trends report shows most median home prices in Colorado are up 10 % from last year’s numbers. Despite higher interest rates, multiple cash offers are a thing of the past. “It’s a great, great opportunity,” said CAR Spokesperson Matthew Leprino. It’s better than it’s been in three years for buyers. Yes, interest rates are higher, and prices...
Homeowners are realizing that lush, green lawns are getting harder to maintain in Colorado. Having a green lawn has been a status symbol since the 1500s and even has the reputation of forecasting the homeowner’s moral character, which was then reinforced by homeowner’s associations. The grass we know today was originally brought from Europe and North Africa. Some REALTORS® have noticed...
A REALTOR’S® client in Boulder recently bought a home in two days, close to the listed price, with a home inspection, with a contingency agreement on the sale of her current home, and with no appraisal gap. CAR Spokesperson Kelly Moye said, “That was a contract we haven’t seen in a really, really long time, and – it was refreshing.” “She...
Four neighborhoods in Southwest Denver - Bow Mar, Westwood, Harvey Park, and Barnum - saw more flip sales in 2021 alone when compared to the last decade, according to Denver property sales data. 2022 is on track to break that record. Overall, there were more home sales in 2021, but CAR Spokesperson Matthew Leprino commented on the data: “The 120-day threshold...