Denver Real Estate News

Denver Real Estate News Recap: September 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Denver area home sales fell in September, while inventory rises at a record amount, and median single-family home prices remain steady from August at $575K. Some Denver realtors say there is no housing bubble on the horizon.

+ Own a rental property or currently rent? Colorado SB21-173 offers new protections to renters starting on October 1st.

+ A growing number of adults ages 65 and older can’t afford to live in Colorado, the No. 1 state for housing instability amongst seniors.

 


 

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Denver Real Estate News Recap: August 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Downtown Denver has been starving for new condos over the last decade. Its hunger pains will begin to subside when the the largest condo project since 2009 breaks ground soon at 18th & Glenarm.

+ Median home prices fell for a second month in August. Buyers, don’t be relieved yet — inventory is tightening again, as active listings fell 11.7% between July and August.

+ Relief for Denver renters has dissipated in the Denver metro area. Front Range rents increased 14.4% year-over-year in August and are up 12.8% since March 2020.

+ A San Francisco-based developer has purchased an entire block of RiNo for $27.5M. Plans are still in the early stages, but may include a 500-unit apartment project, stretching 12-stories.

 


 

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Denver Real Estate News Recap: July 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Things may be looking better for home buyers as Metro Denver saw its second biggest jump in its supply of homes for sale — triple the 3.1% jump seen nationwide.

+ … but perhaps not when considering that Metro Denver home prices set multiple home price appreciation records (15.5% in April and 16.2% year-over-year in May) and July rents rose 11.6% statewide. At least we’re not seeing increases like in Phoenix (25.9%), San Diego (24.7%), and Seattle (23.4%).

+ The Biden administration is developing a new eviction moratorium after a previous ban expired last weekend. While 12% of Denver renters owe back rent, landlords do not believe an eviction crisis is looming.


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Denver Real Estate News Recap: June 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ April proved to be a record-setting month for Denver annual home appreciation — a whopping 15.4%.

+ Showings are down and bidding wars begin to tame in Denver’s real estate market. Will buyers start to find relief or are some walking away from their search after high price fatigue?

+ Colorado is on the verge of an affordable housing crisis so severe that it could derail the state economy and contribute to a significant deterioration in the quality of life for those priced out of the market. The Common Sense Institute released a white paper on actions to reduce the shortfall.


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Denver Real Estate News Recap: May 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ The Denver housing market continues to keep buyers on their toes as 74% of listings go under contract within a week versus 47% nationally.

+ As investors account for one in seven home purchases in Denver, high prices are turning potential buyers into renters.

+ While Denver’s home appreciation rate remains on par with rest of country, the metro area’s price per square foot is nearly 30% more expensive ($242 in Denver compared to $187 nationally).

 

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Denver Real Estate News Recap: April 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Lack of crime, quality of public schools, cost of living, job opportunities, and local amenities placed 11 Denver neighborhoods among the top 25 places to live in Colorado, according to Niche.

+ Neighbors in Governors’ Park are banding together to encourage responsible growth as buildings considered landmarks are being torn down to make way for high-rise apartments.

The premium over list price is at an all-time high (think 104.1%) as more metro Denver buyers will pay whatever it takes to get under contract.

The 20 hottest real estate markets in the Denver metro area saw median home prices increase anywhere from 20% to a whopping 79% in 2020.

 

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Denver Real Estate News Recap: March 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ A study finds that people didn’t abandon urban neighborhoods during the pandemic. Denver was among the most expensive large metro areas that saw a big decrease in urban in-migration and a small increase in urban out-migration during the pandemic.

+ Only 21% of Denver renters can afford a typical monthly mortgage payment ($2,376/month), compared to 27.4% nationwide, according to Zillow.

+ Denver homebuyers continue to have to move quickly and prepare for a bidding war as the housing market remains ultra-competitive.

 

 

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Denver Real Estate News Recap: February 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Denver’s widespread broadband access, wage growth, and booming tech industry placed us as the 11th best-performing large city according to Milken Institute. Rising housing costs could hamper our future performance.

+ As the Denver metro area becomes the most expensive outside of coastal areas, first-time homebuyers have a tough time landing their first place. With a 32% decline in available listings between the third and fourth quarters of 2020, the 2% decline in average list price isn’t helping enough.

+ The number of homes for sale in Denver is at 14.9% the average amount for the end of February. This historically low amount is causing listings to sell in a median of five days, compared to 15 days a year ago.

 

 

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Denver Real Estate News Recap: January 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ 56% of economists think the Denver housing market will outperform the national average this year, hoisting our city to one of the top five hottest markets for 2021.

+ Some local economists believe the Denver housing market is running out of gas. They said, “while new home sales should match the pace of 2020, existing-home sales this year will fall and price increases in the months ahead will be more subdued.”

+ Our opinion? 2021 is likely going to be a fast-paced, appreciating market on all fronts.

+ Denver is the third hottest market for millennial homebuyers, ranking behind only San Jose and Boston. A whopping 59% of all Denver-area homebuyers in 2020 were from Gen Y.

 

 

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Denver Real Estate News Recap: December 2020

Happy New Year! Here’s a quick digest of what happened in Denver real estate last month:

+ Renofi is projecting that the average price of a home in Colorado will reach $763,309 by 2030, making us the 4th most expensive state after California, Hawaii, and Washington.

+ Denver ranks 8th in cities with the highest inflow of new residents during the pandemic.

+ Local restaurant owner Josh Wolkon shares how you can help save local restaurants.

 

 

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