Denver Real Estate News

December 2021 Denver Real Estate News Recap

+ The Case-Shiller Index showed Denver hit its fourth consecutive months of 20% plus year-over-year home price gains in October. The Mile High leads the nation with 105% gain in home prices since 2006.

+ While most housing forecasts expect a return of single-digit home price appreciation, Zillow predicts metro Denver could see another year of home price appreciation above 15%.

+ Housing prices are leading to increased competition in the rental market, where an average of 14 applicants are competing over each vacant apartment.

November 2021 Denver Real Estate News Recap

+ Investors accounted for 17% of Denver home sales in the third quarter, up from 9% in the same quarter of 2020. The added competition is making it even more challenging for first-time buyers in the metro area.

+ The Within Reach Giving Campaign is aiming to help 50 metro families with emergency housing needs by raising money for the Housing Stability Fund. The campaign runs through December 31st. Donations can be made on MDHI’s website.

+ Home prices in Colorado rose a staggering 25% in the third quarter of 2021, compared to the same quarter in 2020.

 

Denver Real Estate News Recap: October 2021

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

+ Denver ranks as the 12th least affordable city as the typical home now costs five times the average family income. The rule of thumb for affordability is a price-to-income ratio of 2.6.

+ Ballot measures 2B, 2F, 301, 302, and 303 pertained to real estate or housing in Denver’s election this year. Statewide, Prop 120 sought to reduce the property tax assessment rate for multi-family homes. Results can be found on Denvergov.org and ballotpedia.org, respectively.

+ Vacancy rates for Denver apartments stood at 3.8% in the third quarter. Aurora, Broomfield, Golden, and Longmont have even tighter markets. When vacancy rates dip below 4%, dramatic increases in rents tend to follow.

 


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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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