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...
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...
Posted on
February 28, 2022
Prospective homebuyers who keep losing out on
homes because of a lack of a cash offer could have a new option. The concept is called shared appreciation,
where some companies are offering to put a cash offer in for a homebuyer if
they cannot, and then get paid back later. The company will typically place the
cash offer for the buyer after signing the...