Life Style Denver by Gretchen Faber

Low Denver Inventory Leads to Multiple Offers

I've been working with a family relocating from the mid-west for several months.  We look at a few properties whenever they make it to Denver for a visit. There haven't been many great matches for their specific needs (picture a giant playset.)  This week, we've narrowed it down to three really good possibilities, with a fourth thrown in for good measure. Here's what we found out this afternoon as we're deciding which one to make an offer on: 1 went under contract 1 got...Continue Reading!

Denver Real Estate Statistics | September 2011

Real estate in Denver has picked up steam during September and October.  The summer was hot and dry, the fall has been brisk.  Under contracts are up over last year. Inventory is still extremely low, and buyers are finding it difficult to get into the house of their dreams without making some concessions.  But sellers with any sort of perceived flaw in their home are nonetheless finding themselves waiting for an elusive offer.  The perceived flaws that hold today's buyers back...Continue Reading!

Denver Colorado Real Estate Statistics | August 2011

Predictions are difficult, and the only certain thing in real estate is that it's always interesting. Some homes come on the market and get offers within days.  Others are seemingly well-priced and well-presented and still languish for months.  The average number of days on the market is up slightly from last year, but not dramatically so. Prices are down for single family and up for condos, and that's not a surprise if you've listened to any economic news recently.  Anything that could...Continue Reading!

Denver Colorado Real Estate Statistics | July 2011

A recent trip to India for a real estate conference slowed down my blogging for the past month.  It's great to be back in Denver, where we've had a hot and dry summer, after a rainy and cold spring. Real estate ownership and sales are very different in India, but in some respects there are many similarities.  Limited supply and high demand create high prices in areas like Mumbai, and the headlines while I was visiting were all about the high...Continue Reading!

Denver Colorado Real Estate Statistics | June 2011

June 2011 was the month we were waiting for.  Real estate professionals all over the U.S. were predicting that year-over-year sales from June 2010 would rise in June 2011. In 2010, the Homebuyer Tax Credit ended in April, and at the time all under contract or pending properties were required to close by the end of June to qualify.  The closing date was later pushed out to September, but in April everyone thought June 30 was the final date for the...Continue Reading!

Denver Colorado Real Estate Statistics | May 2011

We're finally comparing Denver real estate sales this year with the time after the tax credit ended last year (for under contract properties.) The number of homes under contract jumped 23% from May of 2010.  This is the first month in 2011 where we're not comparing under contract data to the tax credit time of 2010. The average sale price for both single family and condo are up over 3%, reflecting stability in the market.  While the recent Case Shiller numbers for...Continue Reading!

Denver Colorado Real Estate Statistics | April 2011

Denver real estate is always interesting.  With April statistics out a little later in the month than usual, and a recent business trip, the April report is finally here! And... what do we see? Inventory is unusually low for the Spring.  This could impact prices in future months, if Buyer demand improves and inventory stays low, prices will improve. Prices are flat and down from last year.  Not a surprise since we're still recovering and last year's tax credit generated high demand. Under contract...Continue Reading!

Denver Colorado Real Estate Statistics | March 2011

Real Estate is like a box of chocolates.  Sometimes you get nuts. The nuts have been our foreclosures, our short sales, our underwriting issues and our tough appraisals. Real Estate is like a roller coaster.  Sometimes you go up, and then you fall fast.  It takes longer to go up than come down. Interestingly, last year's tax credit made our first half of the year incredibly busy. Then third quarter we fell off a cliff.  It was so quiet!  We all went to...Continue Reading!

Denver Colorado Real Estate | February 2011 Market Statistics

Prices are down.  The February market statistics are plain. Last year, when prices were down it was because lower end homes were selling. The "mix" of homes was skewing to starter homes, reflecting a "reduction" in prices. The past few months, we've actually seen a firming up of the high end in Denver (although there is still about 5 years' of inventory in Cherry Hills Village.)  With luxury homes rebounding, the reduction in prices can only mean one thing. Prices have come...Continue Reading!

Denver Colorado Real Estate | January 2011 Market Statistics

Why should 2011 start out any different than 2010? We're slogging through a recession, or at least just coming out of one.  Many Buyers seem to be sitting on the proverbial fence.  Some Sellers are still partying like it's 1999, or at least pricing like it's 2006.  Other homeowners are electing to stay out of the market altogether and aren't becoming Sellers. What's different?  Inventory and Taxes. Inventory - This year we have a few more homes on the market than we did...Continue Reading!