April 2022 Market Update

"Our spring has come at last with the soft laughter of April suns and shadow of April showers."

- Byron Caldwell Smith

Read on for homeowner seasonal tips to consider and discover lifestyle tips curated just for you!

Market Update

Denver Home Prices Up Nearly 20% From Last Year!

As interest rates eclipsed 4.6 percent, Denver metro's active listings available at the end of the month increased by 81.16% over last month (DMAR). We ended the month with just 2,221 active homes on the market as 5,108 homes were locked down by buyers and went under contract. The average price of a single-family detached home is currently $797,700 an increase of 18.11 percent from the same period a year ago.

Homes are selling on average 8 days faster than this time last year and the March median sale price of all homes was $602,750, up 20.55% from last year. Are you on the fence about buying? The Fed is slated to raise rates 6 more times this year in hopes of stemming inflation. Buying a home now before the rates increase yet again will be crucial to start building equity. You will always have the option to refinance later on when rates decrease.

A recent analysis just named Denver metro the nation’s most expensive non-coastal rental market, so buying a home is a great way to stabilize your monthly housing payments.

So what does this mean for Denver metro homebuyers?

A recession does not mean we are in a housing bubble. In fact, historically the opposite is true. Looking at all U.S. recessions, except for 2008, housing actually increased in value as interest rates declined with a hurting economy.
Really unsure where to start? Speak with a mortgage lender! They will be able to give you a breakdown of what you can afford and what you can expect to pay per month.

If you are a home seller, consider selling sooner rather than later:

Buyers are ready to pounce! Denver metro had 6,020 new homes hit the market and 5,108 went under contract.
Spring is historically a great time to list and you can expect the process to go fast: the median days on market in March was a mere 4 days.
Our region’s current list-to-sell ratio keeps increasing and is currently at 106.46%, meaning that the average home sold for over 6% of the asking price!
Curious who is buying all these homes? Millennials now make up 43% of home buyers – the most of any generation – an increase from 37% last year.
Boomers made up the largest share of home sellers at 42%.

Luxury Lifestyle

March Market Snapshot ($1M+)

Included Counties:

Stay up to date with Compass' latest luxury listings and news.

Local Events

Hoppy Easter 5K

April 16th

Join us for the Hoppy Easter 5k @ Zuni Street Brewing on April 16, 2022, for a 5k-ish, fun run event that starts and ends at this awesome taproom in Denver. Run, walk, jog - whatever goes! Complete the course and celebrate with us and a FREE, local craft brew at the finish line.

Learn more here!

Jurassic World: The Exhibition

National Western Center

Journey through Gyrosphere Valley where you can see a life-size Gyrosphere display, take a picture with a baby dino, and discover whats under the dirt at the Dig Site.

Learn more here!

Cherry Creek Sneak

April 24th

1st Ave and Steele Street

The 40th annual Cherry Creek Sneak will be held on Sunday, April 24th. The event benefits We Don't Waste - a Denver non-profit that provides fresh food t those in need in the Denver area. The Sneak consists of a 5k run/5 mile run/10 mile run and a kids fun run. All of the courses take place on the streets of Cherry Creek and culminate in a fantastic afterparty on 1st Avenue.

Learn more here!

Elitch Gardens Opening Day

April 30th

Denver's beloved amusement park reopens April 30th. Season passes and Dining options are on sale now for low prices. A day full of rides, waterslides, games and food!

Learn more here!

April 22 is World Earth Day

Time to give Mother Nature her due. Friday, April 22 is the annual Earth Day.

This is the moment to change it all — the business climate, the political climate, and how we take action on climate.

Now is the time for the unstoppable courage to preserve and protect our health, our families, our livelihoods…together, we must Invest In Our Planet.

Because a green future is a prosperous future. The Earth Day 2022 Theme is Invest In Our Planet.

What Will You Do? Click Here to find information on Earth Day events, activities, and what individuals and organizations can do to make a difference.

#InvestInOurPlanet

Lifestyle Tips & Tricks

2021-22 Colorado Ski Resort Season Opening & Closing Dates

Every winter the Colorado ski season kicks off with great anticipation, usually beginning sometime in October. The season opening and closing days for Colorado’s ski resorts are important dates to remember when planning an early or late season escapade. After the first ski areas open in mid-October, the bulk follow suit from early-November through mid-December, until mostly all are open.

Read more on Uncover Colorado

3 Denver-Area Gyms Using the Latest and Greatest Technology to Pump You Up

From artificial intelligence to cryotherapy, getting fit isn’t just about dumbbells anymore. Bodies are powerful instruments on their own, but like any other apparatus, they can benefit from upgrades. To ensure you reach your full fitness bandwidth, we connected with three local gyms that have installed the latest body-boosting advancements.

Courtesy of 5280

The Best Places to Travel in April, from Bolivia to Barcelona

April is a time when many folks are feeling flush. So why not spend that much-deserved tax refund on a trip somewhere new? As spring begins to emerge and temperatures climb, it’s the ideal season for a long-haul splurge to Europe before the crowds take over. These are the best places to travel in April, including a book festival in Barcelona, luxury hotels in the Middle East, and flower festivals that will really put you in the springtime spirit.

Courtesy of Condè Nast Traveler

The 6 Best Places to Shop for Outdoor Rugs

When it comes to designing our outdoor spaces, we tend to prioritize function over form. And while it's true that you need to have an outdoor dining set that seats all members of your family, a grill that can cook up enough burgers for the neighbors, and an umbrella that shades your favorite spot to chill, you also need a fresh-air sanctuary that evokes the same happy feelings the rest of your (beautifully decorated, we're certain) home does.

Courtesy of Real Simple

Featured Listings & Sales

213 Ford Street Denn-Wald \| Golden Under Contract	3548 Mariposa Street LoHi Sold - Represented Seller
7905 West 67th Avenue Lynnrick \| Arvada Sold - Represented Buyer	5070 East Peakview Avenue Villa Del Sol \| Centennial Sold - Represented Buyer
4168 South Logan Street Broadway Heights \| Englewood Sold - Represented Buyer	2851 West 52nd Avenue, Unit 207 Chaffee Park \| Denver Sold - Represented Buyer

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REALTOR®
M: 815.608.7482
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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.