September 2018 ~ Real Estate News
From the team at the
Red Door Group

Housing inventory increases to the highest level in four years giving homebuyers more selection, and signaling increased days on market and a slowdown in the rate of price growth.
Housing inventory in the residential market hit a four-year high year to date in August with a total of 8,228 homes on the market, up 11.79 percent from last year.

"Over the past four years, we've experienced the strongest sellers' market in recorded history," said Steve Danyliw, Chairman of the DMAR Market Trends Committee and Metro Denver REALTOR®. "This past month, we saw available homes for sale increase to the highest level in four years giving buyers more homes to choose from."

While conditions continue to favor the seller, subtle shifts in the metro-Denver real estate market signal a slowdown in the rate of price growth and an increase in days on market, according to Danyliw. He adds, "Even though buyers have something to smile about, market conditions still favor the home seller and the next few months should see increased activity as buyers try to find a home for the holidays."

The condo segment of the market is driving the overall increase in active listings, up 22.07 percent year over year. The number of sold listings in the entire residential market decreased by 6.78 percent compared to the previous month, and 11.48 percent from last August. Year to date, 38,422 homes in the Denver-area have sold, down 2.33 percent from last year. The most active price segment in August for the single-family market was the $300,000 to $399,999, and $200,000 to $299,999 for condos.

Danyliw assesses that more signs of cooling can be seen with months of inventory increasing to 1.68 for single-family homes, compared to 1.59 months in July. Condo inventory increased to 1.48 months, compared to 1.33 months in July. In the single-family home market, the average sold price decreased 0.38 percent month over month to $525,346, while the median price decreased 1.11 percent to $445,000. 

The year-to-date average single-family home sold price stands at $525,905, up 9.55 percent from last year, with the median sold price was at $446,000, up 8.78 percent year over year. Condos continue to outperform single-family homes with the year-to-date average sold price of $351,318 representing an 11.41 percent increase over last year. The median price of condos sold also increased by 12.53 percent to $299,900.



The price of any item is determined by the supply of that item, as well as the demand for that item in its market. The same is true in real estate. As the inventory of homes available for sale shrinks, and the demand that buyers have for those homes continues to grow, prices increase. Let's get together to discuss the supply and demand of homes in our market!

How Supply and Demand Impacts Real Estate Values
How Supply and Demand Impacts Real Estate Values

Some of Our Current Red Door Group Listings!
Coming Soon!
COMING SOON!
 

Country Charm Meets Mid-Century Modern! This incredibly unique property boasts extensive recent renovations on more than an acre only  minutes from I25 and C470! In 2015, this home was given a massive make over to bring it into the 21st century, while keeping vintage details  to preserve it's mid-century roots! Work included new doors, windows, HVAC, sub-floors, drywall, wiring, insulation, plumbing, and even a new  septic system! In 2018, the home and outbuildings all got a new roof and the interior was painted and exterior cedar was refinished. So, all  that's left to do is kick back and enjoy an afternoon on one of the back patios while the soothing trickle from the water feature melts your  worries away. Or spend the evening snuggled by your outdoor fireplace. Or commune with nature in your vegetable garden and potting shed.  Or work on projects out in the detached garage and workroom. Whatever your pleasure, you can truly have it all at this special home.
$1,695,000
 

Magnificent mountain home with million-dollar views! This spacious house has floor to ceiling windows to see the stunning view of the city along with the forest and wild life that surrounds the property. Gourmet kitchen with a huge granite island, farmhouse sink, and 6 burner gas stove. Gleaming wood floors are warmed by whole house radiant heat. Plenty of room for guests, currently sleeps 13. The house was designed to give you all of the comforts of a luxury home, yet also meets the needs of a mountain property with a large mud room, attached garage, & propane piped directly to outdoor grill. The sweeping views from the deck are truly breathtaking as the city lights begin to twinkle as evening approaches. Detached 4 car garage holds the included tractor for snow removal, 2 ATVs, & much more! If you've been waiting for a luxury mountain home that isn't far from Denver, come see this one soon.

$650,000


Wonderful and spacious home located in the beautiful Vista Pointe neighborhood, right in the heart of Erie Colorado! This residence is perfectly situated on an over-sized home-site on a quiet culdesac. Living here, you will love the sunny gourmet kitchen, complete with large center island and tech desk area, double oven, tons of cabinets, and pantry. The upper level has 5 bedrooms and includes a great master suite, with private balcony that faces west with mountain views, and coffee bar area. The main level has a study, family room with cozy fireplace, and a formal living and dining area. The backyard is the perfect getaway to play, and the over-sized 3 car tandem extended garage is a great area to work on a hobby, or use for extra storage. Additional new bedroom and bathroom are in the full basement. This is a great home!
$665,000
 

If you know someone who is looking for a golf community, a low-maintenance home, and/or a gorgeous upgraded home with main floor master. Wonderful 2 story home in Serenity Ridge! Location - Location - Location!!! This home is perfectly situated on an oversized corner homesite, on a cul de sac, and backs to open space. This home has a great floor plan with 4 bedrooms upstairs, a great room, gourmet kitchen, study, and an unfinished full basement. This residence also boasts some extra great features like the 3 car garage with 8 foot tall doors, a cozy gas fireplace, and granite countertops. Living in Serenity Ridge, you will love how close you are to Southlands Mall, numerous restaurants, shopping, schools, and close access to E470 and DIA.

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