Despite a Cool-Off, Denver Metro is still favoring Homes Priced Right & in Good Condition
July Housing Update
DMAR came to the table this month with some good data points about our current housing market, in addition to sharing their information we are also going to share what we are seeing in real time. What we noticed last weekend was that the drop-in interest rates did indeed bring more buyers out hunting, but it also saw new listings come to the market still overpriced. The Buyers we were working with were so perplexed by some of the homes they saw regarding condition and pricing and just walked away or refused to see homes that were not it range with what recently sold or showed poorly in photographs. For Sellers in a shifting or shifted market pricing and condition are everything they are your most powerful tools and our advice to you is to use them.
- Home values saw a 3.33% decline last month but year over year they are still up over 11%.
- Days on market moved to 13 a 30% increase
- Inventory is up again by 22% month over month over 80$ from a year ago (still not where it needs to be)
The average American is 30 years old now and 69% of people aged 24-40 said they prefer home ownership over renting and sacrifice a lot to own a home. These stats suggest to economists that the housing slowdown will remain just that, a slowdown, not a bursting or bursted housing bubble.
5280 Magazine came out with their top neighborhood list. They examined 78 Denver communities their valuation consisted of:
Home values, schools’ quality, safety, cultural offerings, nearby shops, open space etc.
No surprises here: Washington Park, Platt Park, Wellshire, Belcaro and City Park.
We are happy to expand on any of this information anytime. We have always and still grow our business through referrals, we hope you will keep us in mind if you know anyone looking to buy, sell or invest!
Village Invest Charity:
The Park People Denver
The Park People was created in 1969 by a small group of park enthusiasts who banded together to raise private funds to support Denver’s extensive parks and recreation system. They are a separate entity from Denver’s Department of Parks and Recreation, but have worked in close partnership with the department since their founding.
In the 50+-year history they have been around, The Park People have infused many millions of dollars into Denver’s parks through the restoration of existing park infrastructure, such as fountains and historic park buildings, and through new construction, such as playgrounds and recreation facilities.
The Park People is a private 501(c)(3) nonprofit organization working with communities to plant trees and improve parks for a healthy, resilient future.
They are passionate about our local parks, our city trees, and other shared community resources.
“We believe that healthy parks help grow healthy communities. We believe that our community forest not only makes our neighborhoods beautiful places to live, but provides critical functions to the health, well-being, and sustainability of urban life.”
To check out more about how The Park People are helping our community, click here! To join us in their mission this month, donate by clicking on the button below!