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Front Range Real Estate Market Update, February 10, 2022

Competition for homes is fierce right now. If you’re going to buy a home soon, you may have to compromise on something. Generally, buyers can compromise on:

  • Price – You can pay more than you hope to pay
  • Location – You can choose a home in a different part of town
  • Condition – You can make an offer on a home that needs more work than you’d like
  • Size or Features – You can purchase a smaller home or one that doesn’t have some of the features you want. Perhaps the view isn’t what you had in mind, there’s a two-car garage rather than a three-car garage, or the yard is smaller than you wanted, for example.

Many of our buyer clients start with a fixed idea of where they want to live and expand their search as time goes on.

Let’s take a look at some popular areas within Metro Denver to get a sense of how changing where you’re looking for a home can change what you spend and what you get.

Averages for homes that closed in the last 30 days:

 

Reunion, Commerce City
  • Total square feet: 3,477
  • Price per square foot: $172
  • Close price: $589,384

Villages of Parker

  • Total square feet: 3,584
  • Price per square foot: $215
  • Close price: $730,250

The Pinery, Parker

  • Total square feet: 3,448
  • Price per square foot: $226
  • Close price: $759,792

Green Mountain, Lakewood

  • Total square feet: 3,055
  • Price per square foot: $234
  • Close price: $685,450
  • Total square feet: 2,556
  • Price per square foot: $267
  • Close price: $685,372
Highlands Ranch
  • Total square feet: 2,521
  • Price per square foot: $268
  • Close price: $633,134

Countryside, Westminster

  • Total square feet: 1,819
  • Price per square foot: $275
  • Close price: $484,367
  • Total square feet: 1,762
  • Price per square foot: $280
  • Close price: $469,773

Smoky Hill, Centennial

  • Total square feet: 2,712
  • Price per square foot: $297
  • Close price: $591,407

Sloan Lake, Denver

  • Total square feet: 1,304
  • Price per square foot: $604
  • Close price: $759,235

Ready to make your move? Give us a call. We’ll help you get started. Reach David and Tom at 720-782-2468.

Metro Denver Real Estate Market Activity

[one-half-first]During the last week:
New Listings – 773
Back On Market – 115
Price Increase – 202
Price Decrease – 129
Pending – 1305
Withdrawn – 51
Closed – 841
Expired – 74[/one-half-first][one-half]Previous Week:
New Listings – 734
Back On Market – 99
Price Increase – 202
Price Decrease – 118
Pending – 1292
Withdrawn – 55
Closed – 1014
Expired – 134

Based on data from REColorado®[/one-half]

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Trends in Metro Denver

Real Estate News

Mortgage rates jump to 3.69% as economy normalizes

Homes are selling faster than ever before

Soaring rent prices make it even more difficult to save for a house