Spring is upon us! Read on for homeowner seasonal tips to consider and discover lifestyle tips curated just for you!
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INSATIABLE BUYER DEMAND, FIERCE COMPETITION.
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2022 is presenting twists and turns in every direction. Check out the latest below.
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February didn't disappoint those who were looking for excitement in the market. Many new records were established early in the year with a frenzy of buyer and new listing activity.
The average sold price climbed 8.3% from January to February with 71.5% of those closed transactions selling for over asking price.
Historically the bulk of appreciation is established by properties closing between February through June.
The average amount over asking price forthose homes in multiple offer situations was 6.6% or $27,483.
Some of the hottest spots in Metro Denver continue to be west of I-25 into the Lakewood, Arvada, Westminster corridor and along the eastern edge of Denver, western edge of Aurora to name a few.
*Data provided by First American Title Insurance Company
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What does this mean for Denver metro homebuyers?
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If you are jumping into the market, you need to be ready to think and act quickly!
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You'll need to see homes the day they hit the market & submit strong offers with determination and decisiveness
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Prices are only going up as demand is beyond hyperactive and supply is 12 percent down from last year
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According to Megan Aller with First American Title, we typically see the highest number of homes go under contract from March through July so we should see inventory pick up this month through the summer
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Being able to stay positive comes down to the expectations you have from the get-go. Knowing the market data before you launch into the process can help you with expectations of timelines, tactics, and probabilities
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I can help walk you through your exact home criteria and set you up for success as you begin your home buying journey
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If you are a home seller, consider selling sooner rather than later
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We are in an incredibly strong sellers' market, with only a 0.4 months supply of inventory for single-family homes and 0.35 for condos.
- A 6-month supply is considered a balanced market can help you figure out the supply of inventory in your price range and neighborhood and this will impact your odds of selling
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Anything less than a 1 month of supply suggests you should have multiple offers
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Our region’s current list-to-sell ratio is 104.75%, meaning that the average home sold for over the asking price!
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On average, homes are getting 24 showings in the first weekend (First American Title)
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With 30-year mortgage rates topping 4% in February, a full percentage point above where rates were this time last year, more buyers are finding themselves priced out of the market
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The amount of homes hitting the market is down 12 percent when comparing YTD numbers from this time last year, 8,761 properties hit the market in January and February of 2021, and in 2022 we've only seen 7,671
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"The lack of supply coupled with the surplus of buyers has caused prices to rise quickly, leading to an unprecedented close-price-to-list-price ratio of 104.75 percent."
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Denver Restaurant Week
March 11-20
Denver Restaurant Week is back and menus are now live!
Don’t miss your chance to secure your spot at your favorite Denver restaurants.
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Frida: Immersive Dream
Lighthouse Art Space
Explore the world through the eyes of the legendary Frida Kahlo – a brilliant, uncompromising painter who created some of the history’s most iconic artwork. The groundbreaking team behind the smash hit Immersive Van Gogh now turn their eye for innovation towards the work of a woman who boldly told the story of her life in brushstrokes.
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42 Ways to Explore Colorado in 2022
Nearly two years cocooned in our homes have made us wishful for the adventure and entertainment we once took for granted. Fortunately, while we’ve been hiding out, classic Centennial State attractions, from mountaintops to rooftops, have been transforming themselves, making the old new again, in anticipation of our return.
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8 Traditional Irish Desserts for
Celebrating St. Patrick's Day
There's no reason you can't enjoy Irish desserts year-round, whether you have an Irish heritage or not. Whether you're celebrating St. Patrick's Day or just looking for a satisfying, classic Irish dessert, these scones, shortbreads, and cakes will hit the spot.
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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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