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June numbers are out. As the economy opened, a combination of low interest rates, pent up demand and low inventory led to more homes being under contract than came on the market. 7,676 homes went under contract last month. That’s a record high, up 27.38% compared to June 2019 and 16.25% higher than May 2020. […]
Front Range Real Estate Market Report, July 9, 2020 Read More »
Have a safe and happy Fourth of July weekend! We hope you’re doing well. For many of us, this is a trying time. The people who serve our community the most seem to be going through the most. Teachers had to adjust to an entirely new way of doing things. Doctors, nurses, and others in
Happy Fourth of July from The Principal Team Read More »
Market Update, June 25, 2020 For years, home prices have risen steadily in the Denver metro area, but we may be seeing some stabilization in pricing now. The average price for a home that sold in the area during May was $494,550, down from $502,168 in April and down from $511,702 in March. Normally, May
Front Range Real Estate Market Report – 6/25/2020 Read More »
Market Update, June 11, 2020 Where were you in 2010? In the same home? In a different state or town? We thought it would be interesting to look at some key real estate statistics from May 2020 and compare them to what was happening during May 2010. Active Listings – May 2010 to May 2020 Average Closed Price
Front Range Real Estate Market Update, June 11, 2020 Read More »
June Market Report Month-over-month numbers for May The number of homes sold, the average closed price and the median closed price were all down in May, but the active inventory and number of homes under contract were up significantly. Active Inventory: 7,170, up 4.6% Pending: 4,979, up from 2,359 Closed Homes: 3,152, down 19.71% Average
Front Range Real Estate Market Update, June 2020 Read More »
Market Update, May 28, 2020 Mortgages are on our minds again this week. Rates set a new record low for the third time in three months. The average rate for a 30-year fixed mortgage fell to 3.15% this week. In fact, Freddie Mac data over the past five decades shows this is the lowest rate recorded.
Front Range Real Estate Market Report – May 28, 2020 Read More »
Nobody knows for sure what will happen, but once the economy opens, we believe we’re likely to see a surge in the real estate market that will last two to three weeks. Pent up demand for homes will drive buyers to look at homes and make offers. These signs indicate we’ll see a short surge in
Front Range Market Update – 4/30/2020 Read More »
Market Update, April 23, 2020 Governor Polis outlined the state’s “Safer at Home” Plan this week, which begins to open the economy and aims to protect people, especially vulnerable populations, from exposure to the coronavirus. Real estate showings will be permitted starting April 27, but we don’t know what rules will be in place regarding showings and other real estate services. The
Front Range Real Estate Market Report, April 23, 2020 Read More »
We hope you and your loved ones are safe and healthy during this unprecedented moment. Sellers are taking a break in the face of COVID-19 by withdrawing homes from the market. We normally see the most homes withdrawn during November and December. Last November and December, 581 and 533 homes were taken off the market before
Front Range Real Estate Market Update, April 9, 2020 Read More »
Minutes after we published last week’s market update, the state added real estate to its list of essential businesses. The current situation means we must take extreme caution to ensure the safety of clients and others while doing business. We have a serious responsibility to do whatever we can to protect our clients, the public
Market Update and Message from The Principal Team, 4/2/2020 Read More »
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