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Market Update, November 5, 2020 Home prices continued to climb in October. The average price for a single-family home sold was $625,100, while the average for attached homes was $393,733. We saw the lowest number of active listings for any October ever, which definitely had an impact on prices. There were just 4,821 homes for sale, almost 2,000 […]
Front Range Real Estate Market Update, November 5, 2020 Read More »
Mortgage rates hit another record low this week. This is the tenth record low this year – 2.81% for a 30-year-loan, according to Freddie Mac. A year ago, the average was 3.69%. This is helping drive buyer demand, but, according to the Mortgage Banker’s Association, applications decreased 0.7% compared to last week. Speaking of mortgages, in
Front Range Real Estate Market Report – October 15, 2020 Read More »
There’s been a lot of talk about urban real estate lately and whether people are moving out of city centers around the country to flock to the suburbs. For some people, this is definitely true. Some homebuyers believe the “work at home” trend is here to stay and they want the type of space only
Are homeowners really fleeing the city? Read More »
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
Front Range Real Estate Market Update, August 27, 2020 Read More »
There are more buyers than homes available and buyers are competing to purchase homes. Multiple-offer situations can be frustrating. Being prepared, having a strategy and being patient and open to change can help. Every buyer should be pre-approved for a loan. Pre-approval is conditional approval for a loan and requires that you complete a mortgage
Front Range Real Estate Market Update, August 20, 2020 Read More »
From July 2019 to July 2020 the number of active listings – all homes for sale in the metro area, including townhomes, condos and single-family homes – decreased 41.5%. That lack of inventory was a major factor in rising home prices. 20.3% more homes sold this July compared to July 2019 while the median price
Front Range Real Estate Market Update, August 13, 2020 Read More »
There still aren’t enough homes for sale in Metro Denver to satisfy buyer demand. Statistics for July indicate scarcity of choice was one reason detached homes sold at a record average price last month – $601,863. This is nearly ten percent higher than a year ago (9.92% to be precise) and up 7.68% compared to
Front Range Real Estate Market Update, August 6, 2020 Read More »
The median value of homes in the metro area is about $465,000 and we’re seeing quite a few price reductions in the market. We thought it would be interesting to take a look at what you can buy when you look at homes reduced in price to near the median. Jefferson County: This home went on
What $465,000 buys right now in three Metro Denver Counties Read More »
Last week, we mentioned that some analysts believe home prices will decrease in the metro area by next May. Even if prices do decrease, it may make sense to buy a home now rather than wait. The biggest reason for this is interest rates. Interest rates for 30-year mortgages hit record lows last week, going below
Front Range Real Estate Market Update, July 23, 2020 Read More »
California’s CoreLogic, a data and analytics company, just released their Home Price Insights report, designed to predict what will happen with housing between now and May 2021. The report predicts home prices will decrease 6.6% from May 2020 to May 2021, the first year home prices have declined nationally in more than nine years. The report suggests
Front Range Real Estate Market Update, July 16, 2020 Read More »
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