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Front Range Real Estate Market Update, August 27, 2020

Every home in America just got a flood-risk score. Your home – and any home you may purchase – has an easy-to-access “Flood Factor” score that “is an indicator of its comprehensive flood risk” and shows a property’s “likelihood of flooding and the potential depth of that flood.”

FEMA flood maps can be unreliable predictors of future flooding and many people who should own flood insurance, don’t have it. Colorado is, for the most part, safer than many other areas, but flooding does happen here and can be devastating to unprepared homeowners. In fact, The First Street Foundation’s research shows, “Flood risk is increasing in the state of Colorado. 131,200 properties currently have a substantial risk of flooding. Over the next 30 years, the number of properties with this risk will increase by another 2.4%, bringing the total number of properties with substantial risk to 134,400.” A solid understanding of the likelihood your home could be flooded can help you mitigate the risks.

To get a flood score for a property you own or one you’re thinking about buying, visit the Flood Factor website and calculate your risk.

Ready to get moving? Give us a call.
Reach David and Tom at The Principal Team at 720-408-7409.

Metro Denver Real Estate Market Activity

Denver is still a huge draw for companies like Palantir, a data analytics company that announced last week that they’ll move their headquarters from Silicon Valley to the Mile High City. Google, Facebook, Salesforce, Slack and Twitter all have offices in the metro area. Newcomers and people moving within the region continue to make the real estate market hot, where buyers outnumber available homes. If you’re thinking of selling, now is a fantastic time. Give us a call for a free in-home valuation. If you’re thinking of buying, call as soon as possible to get your strategy in place. Reach The Principal Team at 720-408-7409.

During the last week:
New Listings – 1353
Back On Market – 371
Price Increase – 242
Price Decrease – 956
Pending – 2309
Withdrawn – 175
Closed – 1906
Expired – 224

Previous Week:
New Listings – 1389
Back On Market – 330
Price Increase –  298
Price Decrease – 1016
Pending – 2361
Withdrawn – 201
Closed – 2022
Expired – 257

Based on data from REColorado®