There are more million-dollar homes on the market all over Colorado than there were just a few years ago, and some are small or need improvements. “There are homes out there that need a lot of work that are a million, too, and they’re priced appropriately,” said CAR spokesperson Kelly Moye. “So, it’s interesting to see how our market has joined San Francisco, New York,...
The saga to build much-needed housing inventory in our mountain communities continues with some new challenges. According to a report from Community Wildfire Planning Center, the number of units built in the wildland-urban interface in Colorado increased 74% since 2010. This also includes an acreage increase of 300% from 2010-2030. Some mountain towns that are unable to sustain these increases are turning down development due...
Homebuyers can look forward to slower price increases on home sales this year, according to Realtor.com’s 2022 housing forecast. Buyers can also expect the same “lively” market pace as 2021. Among the report’s predictions, some of Colorado’s largest markets are expected to make big gains both in the number of sales and price increases. Colorado Springs sales are expected to...
Adams County, Colorado, and nine other cities across the country benefitted from the establishment of Opportunity Zones, which were created by the Tax Cuts and Jobs Act of 2017. Congress enacted these laws to help revitalize low-income areas and give investors significant tax breaks to invest in properties in these cities. Adams County’s median price rose to $429,000 in 2021, which was up from $222,500...
Investors are snapping up homes at an unprecedented pace, including in Denver, where nearly 17% of home sales went to investors, according to a report from Redfin. The brokerage defines an investor as any business entity that purchases residential homes, including through an LLC or trust. Real estate offers a way to hedge against inflation and represents an asset class...
Zillow Offers bought hundreds of homes along the Front Range in August and September, often paying more than what sellers were asking. Now the company is selling more than 500 homes in 10 Front Range counties, and more homes it purchased in October are hitting the market every day. Nearly all the properties being sold are priced well below what the company paid only...
CAR’s October 2021 Market Trends reports that the sales price of homes has increased 15% across Colorado since Oct. 2020. Mountain town inventory is down by as much as 41% compared to last year. “It seems the definition can sometimes change from month to month as a relative response to what a ‘normal’ house sells for,” said Durango REALTOR® Jarrod Nixon. He says that...
Zillow announced it would stop buying homes directly from sellers and then selling them at an increased rate. The company could not effectively compete in Colorado‘s hot real estate market because it couldn’t find property, renovate and resell the homes fast enough. The program has been discontinued nationally as well. “When you’re not able to buy low and sell high, because our market is doing...
Since Zillow Offers, the internet giant’s direct buying service, has left the Denver real estate market, home buyers and sellers don’t have much reason to celebrate. Home inventory, no matter who the player is, is low. “Any added inventory and new listings in the market would be greatly appreciated and good to have,” Andrew Abrams from DMAR said. CAR spokesman...
Developer Jon Roberts once built market-rate homes families could afford at light-rail stops in Denver. Attainable, dense housing is one fix to the affordable housing crisis, and Roberts was happy to do his part. He’s shifted his focus to $1 million houses and duplexes — and he’s not thrilled about the reasons why: Building affordable housing is too risky, too slow and too mired in bureaucracy. “I...