According to a recent Denver Post article, it could be perceived that the market is nearing a Plateau. A link to The Denver Post article can be read here. The Post is advising the days of double digit gains in the median home price will end this year. They are also predicting we will still continue to see home prices increase, just not at the pace we have experienced over the past 3+ years. The Post estimates a 5% increase in 2016, and additional modest decreases in the years to follow. For the Denver Real Estate Market to only see a 5% increase in 2016, we would need to see a pretty drastic decline in the remaining months. The Denver Metro Association of Realtors (DMAR) is showing an increase of over 12% through the end of July, 2016 from the previous year (see below).
Is the Denver Market going to decline through the end of the year? I'm not sure, but this is what the Residential Market has experienced over the past week:
Credit: RE Colorado
Our market is experiencing nearly as many price reductions as properties going under contract.
What does all of this mean for you, the consumer?
If you are currently in the market to purchase a home - it is EXCELLENT NEWS! Not only do we have unbelievably low interest rates, we may now have the ability to get offers accepted without having to offer 10 to 20% over the list price in order to win the home!
Are you starting to look for a home and at a loss where to begin? We have an excellent New Home Buyers Guide that I would be happy to share with you ... To request your own personal guide, click here.
If you are in the market to sell your home - it is still a GREAT market, you just need to be a bit more selective about your listing agent. Not all Agents are created EQUAL!
Do you know the techniques our team uses to get the most amount of money for our clients? Are you unsure what your home could sell for? Click here and we can provide a no-cost home valuation for you.
Considering selling your home in the next 6 months? Looking to make the most amount of money from the sale? Ask me about the coloradohomeclick difference! Call me direct at 720.443.2241.
Teri Bruinsma is a Buyer's Specialist with the Jason Peck Group at Keller Williams Realty Downtown. She actively and aggressively helps buyer's find the perfect home in this competitive market. She focuses on the needs of her clients and operates with uncompromising honesty, respect, patience, and fairness. Her passion and love for the real estate industry are unsurpassed and create a strong foundation of commitment and success for her clients. She combines her 30+ years of sales experience with the latest technology and knowledge of industry trends, and offers a unique value. Contact Teri at 720.443.2241.
Pictures provided by Google Images, www.thedenverchannel.com, and the Denver Post, Megan Aller with Land Title, Denver Metro Association of Realtors, RE Colorado
Author:Jordan White Phone: 303-525-0772 Dated: August 9th 2016 Views: 615 About Jordan: ...
Recognized as a top selling team in Denver Metro area. Nationally recognized for homes sold by the Wall Street Journal, Real Trends and Top 5 agent by RIS Media. Our goal is simple and that is to exceed our client's expectations by providing professional service, expert advice and exceptional results.
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"We worked with Karen Venier for a relatively short time for a good reason: our home sold at full price within hours of hitting the market! While it’s true that the Denver housing market is “hot,” credit for the speed and ease of our transaction belongs to Karen. She was great to work with, giving us perfect advice about readying our home for sale and then expertly guiding us from offer to close. Along the way, we came to appreciate Karen for her skillful blend of professionalism and personal touches – like dropping off our favorite beverages during a particularly stressful time in our move or shoveling our driveway in subzero temps after we’d left the state (way beyond the call of duty!). Now that we’ve relocated to Wisconsin, we keep saying that we wish Karen could be our buyer’s agent here. Since that’s not possible, we’ll shout her name loudly to whoever might be looking for a home in the Denver area.
Thanks for the great work, Karen!