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

No slowing in site for the Denver-area real estate market as homes are selling quickly and prices continue to climb amidst more housing inventory.
Homebuyer demand remained strong with the average days on market at 18, which ties a record low for any month. Additionally, once again, the average single-family home price in metro-Denver continues to set new records, reaching $540,624.
"With Memorial Day and graduations behind us, we now focus on the summer ahead with anticipation of hot weather and a hot housing market," said Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver REALTOR®. "Prices remain hot as both median and average prices continue at double-digit gains. And while some REALTORS® are reporting signs of slowing, those signs have yet to be reflected in the numbers."
In May, the month ended with 6,437 active listings in the residential market (single family and condos), an increase of 24.75 percent month over month. The number of listings sold increased by 6.45 percent compared to the previous month, and dropped 10.89 percent from last May. Year to date, 21,199 total homes have sold in the Denver-area, down 3.43 percent from 2017.
According to Danyliw, the rise or fall of month-end inventory is affected by new listings and homes under contract. While both new listings and homes under contract are up year over year, the new listings were up even more, driving inventory up to a three-year high for May.
He comments, "Through the first five months of the year, the housing market has remained hot. Economic conditions remain strong, driving homebuyer confidence to purchase in this market of record-high home prices."
Looking deeper at home price figures in the single-family home market, the average sold price increased 0.1 percent month over month to $540,624, while the median price decreased 0.88 percent to $451,000. The year-to-date average sold price hit $523,255 for the single-family home market, up 10.96 percent from last year, with the median sold price at $442,450, up 9.25 percent. The condo market continues to outperform single-family homes with the average sold price of $356,337, representing a 12.86 percent increase over 2017. The median price of condos increased by 12.96 percent year over year to $305,000. Furthermore, the condo market continues to see a steady drop in days on market, decreasing to 16 days compared to 19 the month prior.



Some of Our Current Red Door Group Listings!
$378,000
 
4324 Brandon Ave Broomfield, CO 80020


Presented by: Amy Ballain, Realtor®

Brandywine beauty located in the heart of Broomfield! Many upgrades including new carpet, new tile, and gleaming hardwood floors. Great location backing to the greenbelt / bike path area, and right down the street from parks and tennis courts! Roomy living and family room spaces, sunny kitchen nook, and great covered front porch. This home is in the Legacy High School boundaries, and is also perfectly situated near shopping, Paul Derda Recreation Center, public transportation, parks, trails, and beautiful open space. Easy access to Boulder, I25, and E470. This one won't last!
$700,000
14188 Davies Way 
 
 Presented by: Jill Forman, Realtor® 

Sellers offering a full year of golf for two at The Broadlands Golf Course or $2800 towards closing costs! 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.

$549,000

Presented by: Amy Ballain, Realtor®

The living is easy in this darling, ranch style residence situated in one of Broomfield's most popular neighborhoods! The floor plan encompasses 2 spacious bedrooms, 2 luxurious bathrooms, and a stylish kitchen with granite countertops and hardwood floors. The family room has a cozy fireplace and vaulted ceilings, and flows through to the dining room, large study with great built ins, and sunny kitchen nook. Full basement with rough-in plumbing is perfect for finishing. Enjoy the Colorado outdoor lifestyle by relaxing on the Trex deck with pergola, or the covered front porch. This home sits on an oversized homesite that is beautifully landscaped. Location is ideal, just minutes from McKay Lake, schools, shopping at the Orchard Town Center and King Soopers. Easy access to I25 and hospitals.
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