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

Increased inventory and longer days on market beckons a potential transition to a more balanced playing field for buyers and sellers.
June saw increases in inventory, days on market and months of inventory, which is good news for homebuyers. 
"Over the past few years, the fireworks from our housing market were visible from almost every street corner," said Steve Danyliw, Chairman of the DMAR Market Trends Committee and Metro Denver REALTOR®. "Those fireworks, while still around, are not being seen in every neighborhood. It's important to remember that a transition to a balanced market doesn't mean a bubble is around the corner."
Active listings in the residential market (single-family and condos) were at 7,436 total units in June. The number of sold listings increased by 15.52 percent compared to the previous month, and 5.34 percent from last June. Year to date, there have been 27,228 homes sold - down 3.07 percent from 2017. The condo market saw an uptick in days on market, increasing to 18 days compared to 16 last June. The most active price segment for the single-family market for June was $400,000 to $499,999 and $200,000 to $299,999 for condos. 

Months of inventory increased to 1.43 months for single-family homes compared to 1.28 months last month, and increased to 1.21 months for condos compared to 1.08 months last month. As we look at the single-family home market, the average sold price increased 0.71 percent month over month to $539,934, while the median price decreased 0.56 percent to $452,500. The year-to-date average sold price hit $526,150 for the single-family home market, up 10.27 percent from last year, with the median sold price at $445,000 up 8.54 percent. Like most of 2018, the condo market in June outperformed single-family with the average sold price of $353,429, representing a 12.5 percent increase over 2017. The median price of condos sold also increased by 13.18 percent to $299,925. 

Of the homes that sold in June 2018, the median detached single-family home was 1,802 square feet, four bedrooms, three bathrooms, spent seven days on market and was built in 1986. The median attached single-family home/condo was 1,180 square feet, two bedrooms, two bathrooms, spent six days on market and was built in 1993.




Some of Our Current Red Door Group Listings!
$675,000
14188 Davies Way 
 
 Presented by: Jill Forman, Realtor® 

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.

$550,000

Presented by: Andy Carter, Realtor®

Looking for a home that reminds you of how life once was? Don’t want to buy the latest pre-packaged home and instead expresses the uniqueness that is you? This Victorian home located in one of Erie’s most prestigious neighborhoods has a distinctive look. It's freshly painted exterior reflect the ideas of a more nostalgic era. Its wraparound porch, detailed woodwork, professionally landscaped yard and unique gables separate this home from others. Inside exquisite cherrywood floors and ornate wood carvings in the fireplace and the banister make this home inspiring. The master suite has a sitting room and an expansive updated bathroom. Every room exhibits creativity and besides the aesthetics (new paint inside) the ‘nuts and bolts’ are impressive as well. An upgraded HVAC and a tankless hot water heater compliment quality that is trademark of pride in ownership. In Erie Village you'll experience old fashioned neighborhood parties and are walking distance from historic downtown Erie.


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