Another Look at the Real Estate Market

Here is another interesting graph showing the relation between the number of single family home sales and the increasing population in Denver.

YCRE Quarterly Meeting

Last week I attended Your Castle Real Estate's Quarterly meeting.  The owners of the company reviewed the "State of the Denver RE Market".  Below is a quick summary.  

Please let me know if you would like to see more detailed information.

 

Charles Roberts summarized the "Trends for the Denver Real Estate Market":

• Overall still a very strong market
• Sales prices increased by 10% city wide over the past year
• Inventory remains low
• The market remains a sellers market - Lon Welsh, owner of YCRE, predicts that the market will remain a "sellers market" for the next 3-5 years.

 City of Denver's Mayor Hancock is currently using the YCRE price change map to track the impact of the improvements they are currently making city wide.  The large map was seen hanging on the Mayor's office walls.  Let me know if you would like a copy too!

 

Did you know which Denver neighborhood had the largest price change last year?

Globeville had a 41% price increase in 2013

Globeville is located at the intersection of I-70 and I-25

3270 and 3274 Vrain - SOLD!

We closed on both Vrain units this past week. 

Thanks again to everyone that was involved in this project.  It has been a fun one!

Now we are ready to start shopping for our next project.  :)

Denver Inventory Trends - Another cool chart .... still very little inventory in the Denver Market!

Denver Post predictions for RE in 2014

Denver Post's article yesterday cited several "local experts" all pointing to another strong, but more balanced real estate market in 2014.  The entire article can be found here:

Denver housing market seen as finding balance in 2014

An interesting note at the end of the article, pointed to 5 strong neighborhood attracting buyers - they are:

1. City Park
2. Skyland Neighborhood
3. Wadsworth corridor south of I-70
4. Kipling Street nort of US6
5. Applewood Valley

 Why?  What do these homes have in common?

• they have an older housing stock that needs updating
• they have direct routes into downtown or are close to the mountains
• they are all neighborhoods with character

As an investor and real estate broker, I agree ... these are all great neighborhoods!

Year End Real Estate Statistics

Your Castle Real Estate (YCRE) has analyzed the year end data provided by Metrolist.  

The following chart shows that the inventory in the local market is still limited but the average sold price of residential homes has increased by 7% in the last 12 months.

In addition, YCRE looked at the performance of specific geographic areas.  

Here is a summary of the increase of sales from 2012 to 2013 in these local municipalities.  

Let me know if you would like the data for another area.

Data provided by Metrolist, analysis by YCRE, copyright 2014 YCRE,Inc.

USA Today Ranks Denver in Top 10 Healthiest Housing Markets

Another indication that Denver's housing market is currently healthy - USA Today ranked Denver in the Top 10 Healthiest Housing Markets in America. 

Click the link below for the entire article.

USA Today Article

The ranking is based on a new housing gauge called the Zillow Market Health Index.  Its goal is to summarize the strength of an areas housing market compared to others in the nation.