We are delighted to announce that The Pitkin Group has grown. Each addition to our team furthers our commitment & service to our trusted clients. We will continue to provide an elevated level of customer service with unparalleled concierge support, and expert guidance each step of the way.
We look forward to bringing our fresh approach to your Real Estate needs.
We wouldn't be where we are today if it wasn't for your trust and support. Thank you!
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Inventory Increases by Almost
3k Homes From Last Year
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According to DMAR, June saw an increase in active inventory with a total of 6,057 homes on the market - a massive leap of 94.01% when compared to June 2021. Denver metro only had 3,122 homes for sale at the end of June 2021 and at the end of June 2022 we had 6,057.
How is the market changing?
The number of under-contract homes and sold homes was down when compared to last month, and the average number of days on market was 10, consistent with last year. Only 4,943 went under contract in June compared to 6,672 last year and 1,576 fewer homes sold.
These shifts affecting the housing market are connected to recent increases in mortgage rates, inflation, and rising concerns of a recession.
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Top Tips for Home Buyers:
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Have a price range you are comfortable with and know that if you are only looking at homes at the top of your budget, an increase in mortgage rates might lead to a tough adjustment.
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Take your time and know your priorities inside and out so you land a home you really love.
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If inventory continues to rise, prices may begin to decrease. However, if inflation continues to rise, interest rates will also go up again, making your monthly payment higher.
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Top Tips for Home Sellers:
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Close-to-List price came in at 103.08 percent telling us buyers are still paying more than asking on average, but this number has been steadily decreasing each month.
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Price your home appropriately in order to attract as many possible buyers.
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June Market Snapshot ($1M+)
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Included Counties:
Adams | Arapahoe | Broomfield | Denver |
Douglas | Jefferson
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7 Amazing Colorado Whitewater Rafting Trips to Book Right Now
Seeking a great Colorado adventure this July? Go with the flow on one of these splashy rides, all within four hours of Denver.
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8 Things to Eat (and Drink)
at Coors Field
Move over Cracker Jack. From cheese-steak-topped fries to berry-and-brownie kabobs, these baseball bites are reason enough to head to the diamond.
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Featured Listings & Sales
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1750 Wewatta Street, Unit 1213
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1729 South Lee Street, Unit C
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© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
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.
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