Stacie Staub - Realtor at West + Main Homes

05/04/2023

The stats are in!

Patience is a virtue in the Denver housing market, according to the Denver Metro Association of Realtors Market Trends Committee.With historically low inventory, buyers are biding their time waiting for new properties to hit the market.

We have been eagerly waiting to see how the spring market would perform and unfortunately, inventory remains extremely tight as homes go off the market almost as quickly as they become available. New listings dropped 6.71 percent month-over-month to 4,758, a decline of 30.94 percent year-over-year.

Pending sales increased 10.51 percent month-over-month to 4,489, while active listings at month-end rose slightly to 4,620 properties. Median days in MLS dropped from 10 days to sev-en, showcasing how quickly the market is moving again. As reported in our Digging Deeper report, 87 of the 90 metro zip codes saw a significant increase in days in the MLS for the first quarter of the year.

Read the blog: https://www.westandmain.co/blog/greater-denver-area-real-estate-market-report-from-23-mj9wwapril

Let me know if you have questions, I would love to hear from you!💙💛

12/05/2021

Let me know if you have questions about this info! 🏡🏡🏡

💛💙🤓 Market Report for the Greater Denver Metro Area

November 2021 report shows a drastic decrease in inventory with people continuing to buy and sell in droves.

From October to November, the market saw a staggering 33.41 percent decrease in month-end active inventory, dropping to 2,248. Throughout the entire Denver Metro area, there are currently only 1,444 single-family detached properties and 804 attached properties to buy.

Over the past five years, month-end active inventory dropped between 23.36 percent in 2016 and 27.92 percent in 2019. Theoretically, if inventory stayed the course and dropped 25 percent this year, the market would end the year at 1,686 active properties leading into 2022, which is drastically lower than the end of 2020 and would lead to the most competitive year yet. With 2,248 active listings on the market and that number expected to go down by the end of the month, expectations are set that 2022 will be a wild and competitive ride.

Despite high competition on the horizon, people continue to buy and sell relentlessly. Year-to-date, there have been more houses purchased than in any of the previous five years with the median sales price for single-family and attached properties setting records at $525,000.

“At the beginning of 2021, there were conversations about what type of responsibility we, as Realtors®, have to our clients,” commented Andrew Abrams, Chair of the DMAR Market Trends Committee and Metro Denver Realtor®. “How far from the comps are we willing to stray with the hope that the market will keep appreciating and our clients will be sitting in equity in a short amount of time? At the beginning of the year, offers six figures over asking price were common. That need subsided by the end of June and we see that it has been less common ever since.”

While it may be common for buyers to take their foot off the gas and enjoy December festivities, this is the year to put the pedal to the metal in trying to find a property. Interest rates are low, and looking while others are not gives one a competitive advantage, which in this current market is a must.

Our monthly report also includes statistics and analyses in its supplemental “Luxury Market Report” (properties sold for $1 million or greater), “Signature Market Report” (properties sold between $750,000 and $999,999), “Premier Market Report” (properties sold between $500,000 and $749,999), and “Classic Market” (properties sold between $300,000 and $499,999).

In the Luxury Market, Denver has more buyers ready to spend $1 million or more on their home today than any other time on record, with prices higher than ever as well. November 2021 was more of the same record-breaking trends with lowest inventory, lowest days in MLS, highest sales volume and highest average prices. In the pandemic world of the “new normal,” this is it for Denver’s Luxury Market.

Last month, inflation drove up the prices for Denver real estate. The sales volume in the Luxury Market is the highest the market has seen in the last five years, up a staggering 69.17 percent from last year alone. When breaking it down to the attached market, luxury sales are up a whopping 145.84 percent year-over-year, likely due to the lack of interest in attached living in 2020.

“While real estate typically sees the Luxury Market take a break as people celebrate the holidays and enjoy winter vacations, the low supply of homes are predicted to keep even the highest price points seeing multiple offers,” said Jenny Usaj, DMAR Market Trends Committee member and Metro Denver Realtor®. “Prices will soar as long as we continue on this path of low inventory. Historically, we have never seen a market with this low of inventory, increasing prices, appreciation gains and inflation. The perfect storm we are witnessing may unravel, but when and why is up for debate as we continue to keep an eye on interest rates.”

Based on the numbers today, it will undoubtedly be the most expensive season the Luxury Market has seen to date to buy a home unless a hard shift in interest rates occurs.

💛💙🤓 If you have questions about this information, please reach out, we're here to help! Link in comments.

10/06/2021

Here are your Market Stats for the Greater Denver Metro Area from September 2021!

+ After a relative slow down and seasonal return in July and August, September felt back to the normal red-hot speed in today’s housing market.

+ With lower inventory and fewer homes, the balance of supply and demand stayed steady, leading to another month of competition for buyers.

+ Even though prices are up over 15.11 percent year-over-year, now is still a great time to buy. With interest rates low and expected to increase, plus a seasonal increase in inventory, waiting will only cost a potential buyer more money in the future.

DM me with questions, I'm here to help!

(Link to entire report in comments)

Here are your Market Stats for the Greater Denver Metro Area from September 2021:

+ After a relative slow down and seasonal return in July and August, September felt back to the normal red-hot speed in today’s housing market.

+ With lower inventory and fewer homes, the balance of supply and demand stayed steady, leading to another month of competition for buyers.

+ Even though prices are up over 15.11 percent year-over-year, now is still a great time to buy. With interest rates low and expected to increase, plus a seasonal increase in inventory, waiting will only cost a potential buyer more money in the future.

Read the whole report, link in comments, and let us know what questions you have about this information and how it might impact your home's value.

06/03/2021

The latest market report is out...and things aren't slowing down around here!

Please let me know if you have questions or if there is anything that I can do for you!

Colorado Real Estate Market Report:

+ May 2021 proves that even buyer fatigue cannot stop Denver Metro area buyers from slowing down or giving up, with increased opportunities rising in an extreme market.

+ While it is an extreme seller’s market in the Metro Denver area, closings are still happening, up 18.78 percent, despite active listings being down 4.11 percent year-to-date from 2020.

+ Closings are up 18.78 percent, an extreme statistic that is both a reflection of how the pandemic shutdown impacted the real estate industry last year at this time and yet also supports the concept of increased buyer demand.

+ Throughout 2021, the Metro Denver area has seen cracks in the attached market while the detached continued to rise in urgency and price. In May, buyers saw those cracks and moved on a opportunity in the attached market creating the lowest month-end active inventory on record, with only 739 properties available to sell. Those cracks are now gone, and it is a strong seller’s market for every property type and price point.

+ The Denver Metro’s 2021 Real Estate market has turned into an unpredictable year, lacking seasonal consistency with rainy weather in tow, while prices continue to skyrocket. The area hit a new average sales price record of $700,559 for single-family detached properties.

Let us know if you have questions! Link to full report in comments.

05/30/2021

We usually see a Summer Slowdown as we head into the warmer months...but I've stopped trying to predict what this market is going to do! Let me know if you have questions or want to talk through a specific scenario!

Home prices haven’t risen this fast since 2005

Home prices accelerated yet again in March, for the 10th straight time. In fact, they rose 13.2% from March 2020, according to the most recent S&P CoreLogic Case-Shiller Home Price Index report.
The March gain is also the largest since December 2005 and is one of the largest in the index’s 30-year history, said Craig Lazzara, managing director and global head of index investment strategy at S&P DJI.

The 10-city composite rose 12.8% year over year, up from 11.7% in the previous month. The 20-city composite increased 13.3%, up from 12% in February. Cities with the strongest home price gains were Phoenix, San Diego and Seattle — similar to last month’s Case-Shiller report.

Phoenix saw a 20% year-over-year home price increase, followed by San Diego with a 19.1% increase and Seattle with a 18.3%.

“Home price data is consistent with the hypothesis that COVID-19 has encouraged potential buyers to move from urban apartments to suburban homes,” Lazzara said. “This demand may represent buyers who accelerated purchases that would have happened anyway over the next several years. Alternatively, there may have been a secular change in preferences, leading to a permanent shift in the demand curve for housing.”

Higher material costs, a lack of inventory and labor continue to drive demand, pushing up home prices. Robert Frick, corporate economist at Navy Federal Credit Union, noted that some builders are slowing production in hopes prices will come down as the supply chain recovers.

“The housing market dynamics are pushing up prices of homes to the point that new homes especially are increasingly out of reach for lower-income and even many middle-income Americans,” Frick said. “And unfortunately, a slowdown in starts and permits shows the new home supply, while much higher than pre-pandemic levels, will not be increasing soon.”

In response to the latest Case-Shiller report, Zillow chief economist Matthew Speakman noted that 683,000 new homes were sold in all of 2019 — and the current pace of sales is “well on track” to exceed that figure this year, despite a lack of inventory and unprecedented home prices.

“Homes are selling about as quickly as ever, and many builders are expressing the fact that sales could be higher if materials-related constraints weren’t there,” Speakman said. “With so few existing homes available for-sale, would-be buyers continue to eagerly seek out newly constructed homes, even as prices rise.”

Mortgage rates continue to hover around 3%, keeping prospective homebuyers interested, Speakman said.

“Mortgage rates have held near all-time lows and the gradual re-opening of the economy has encouraged many would-be buyers to enter the mix,” Speakman said. “All told, there is little, if any, indication that home prices will slow their appreciation anytime soon.”

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

03/13/2021

It might be snowing...but it's the perfect time to plan your Spring Cleaning! 💙💛🌱🌸💙💛

Spring Clean Your Home's Energy: 9 Easy Ways to Refresh How It Feels 💛💙🌸🌱🏡💛💙

If your space is feeling stagnant, try these nine simple cleansing rituals once a month, or at least once every season, to clear out any negative vibes and bring in new energy.

🌱 Open the Windows
One of the easiest ways to get rid of trapped toxins and negative energy in your home is to simply open the windows. Start cleansing your home by letting the fresh air in and the bad energy out.

🌱 Clean Your Entrances
Most of the negative energy comes in with us as we walk through the door, and this is often where it gets stuck. So clean out the unwanted energy by sweeping and cleaning your entryways. Pay special attention to doors and clean the doorknobs.

🌱 Smudging
BURN DRIED SAGE: The practice of slowly burning herbs and flowers is commonly called smudging, and herbs like white sage have long been used to bring balance and peace to a space. When bundles of dried sage are burned the fragrant smoke is said to burn up toxic energy and bring balance.

You can make your own smudge sticks by rolling bundles of fresh sage and other herbs and flowers, like rosemary and rose petals, then letting the bundles dry for two to three months. (Or, you can find premade sage bundles at places like Etsy.)

When smudging, light your sage bundle with a match, and then blow out the flame, letting the end continue to burn. Fan the smoke into the corners of the room with your hand or using a feather as you move around the space. Place the still burning bundle in an abalone shell or a glass bowl or clay dish.

BURN PALO SANTO: Palo santo is a fragrant wood that's often burned as incense to combat negative energy and cleanse spaces. You can smudge palo santo the same way you use smudge sticks when you want to move negative energy out of your home. Just light the end of the stick and waft the smoke around your house.

🌱 Clean With Salt
Salt is an excellent natural cleanser and another common way to remove negative energy from your space. Pour any kind of natural salt in the corners of the rooms you want to cleanse. Give it 48 hours to trap and absorb bad energy then sweep it up. Or, if you have children or animals, fill small bowls and then simply toss the salt after two days.

You can also use a Himalayan salt candle or create your own salt candles for the same toxin absorbing effect.

🌱 Incorporate Crystals
Some crystals such as black tourmaline, hematite, and selenite are great at clearing negative energy. Place black tourmaline in the four corners of any room, in window sills, or at the corners of your bed to absorb any toxic and negative energy. Black tourmaline also absorbs electromagnetic energy so keep it next to electronics like computers and TVs.

🌱 Scent With Essential Oils
Use essential oils to scent the air, boost your mood, and clear negative energy. Diffuse lemon or pine for a natural clean smell. Use sweet orange or lavender for a naturally uplifting effect.

And if smudging is not your thing, make a room spray with sage and citrus essential oils. Add a piece of black tourmaline or fresh sage to the bottle before you add the liquid ingredients to help neutralize negativity. Spritz it in corners and near entryways to purify the air and disperse pent up energy.

THINGS YOU'LL NEED
1/2 cup lukewarm water

2 teaspoons sea salt

1/2 cup vodka

20 drops sweet orange essential oil

20 drops white sage essential oil

8-ounce spray bottle

🌱 Incorporate Plants or Flowers
Plants don't just filter toxins from the air, they also naturally help filter negative energy while fostering positive energy like serenity and good fortune. A good goal is to have a least one plant in every room and several in the rooms you spend the most time, like the kitchen or bedroom.

🌱 Make Some Noise
The sound of a bell or clapping your hands can help break up bad energy that's stuck. Walk through your home, moving clockwise, and make some noise to get things moving.

🌱 Declutter
Clutter can make a space feel heavy and stagnant. Clean and declutter to make your space feel lighter and brighter.

💛💙🏡💛💙

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

02/04/2021

Inventory down, prices up again...let me know if you have questions about the latest Market Report!

Greater Denver Metro Market Update: Inventory drops to historic lows as the average price of single-family detached and attached homes reaches record high.

In January, the Greater Denver Metro housing market again broke an all-time record, a new inventory low with only 2,316 total properties on the market, translating into an inventory shortage and opportunity for appreciation to accelerate.

Single-family detached properties hit a record average price of $629,159, while attached properties hit a record of $397,792. Single-family home sellers saw a 101.03 percent close-to-list-price in January and a drop to five days in the MLS, down from six last month and 24 days last year. Overall, the drive in demand has been proportionally higher for single-family detached properties than attached properties, explaining why the market is currently sitting with historic low inventory for single-family detached properties.

“Interestingly enough, just because at the end of the month there are not many houses to choose from did not affect the amount of properties going under contract,” said Andrew Abrams, Chair of the DMAR Market Trends Committee and Metro Denver REALTOR®. “There were 4,459 pending properties in January, which is only a 1.09 percent decrease from last year at this time, and 2020 as a whole sang a similar note. There were more homes purchased throughout all of last year than any previous year, but at the end of every month towards the end of the year, there was not much inventory meaning the attrition rate was high.”

The report confirms that as long as interest rates continue to remain low and inventory scarce, there will continue to be multiple buyers for every appropriately-priced house, and sellers across the state of Colorado will continue to have the opportunity to navigate through multiple offers and differing terms of their choice, ultimately choosing one contract while disappointing several others.

Read the entire report on our blog, link in comments, and let us know if you have questions or concerns about this information and how it might impact your home or neighborhood!

01/05/2021

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help!

See comments for link to report!

09/19/2020

Beautiful homes to see today! 💛💙🏡💛💙