Denver Metro Living 5.20.21

Denver Metro Living

5.20.21

Wealth Builder Expo

While you may not have won a Broadmoor prize last month, we do have another opportunity for you to participate. The financial decisions you make today directly impact your future. Hear what Suze Orman, one of the world’s most recognized financial experts, has to say about building your path to financial success.

Learn fundamentals and strategies that will help you thrive in today’s economic realities.

When: Thursday, June 17 | Noon MTN 2:00 EST

Where: Live Broadcast Event Link to be Provided

Space is limited for this private event.

Reserve your spot today!

RSVP Here

Digging Deeper: Year-to-Date Zip Code Report

The Denver Metropolitan Association of Realtors (DMAR) Market Trends Committee examined the year-over-year changes in average close price, median close price, number of closed transactions and days in MLS by zip code.

Key Points

The zip code of 80230 (Lowry) posted a whopping 79 percent year-over-year increase in median close price in the first quarter. However, examine 80230 a little deeper and you will find that this zip code has relatively fewer sales, which can cause bigger swings when the mix changes. Simply, last year’s mix favored lower-priced properties over higher-priced homes and this year that mix has flipped. But this does not mean that homes in this area have increased by 79 percent.
The downtown zip codes of 80211, 80202 and 80218 saw good news for sellers as these areas are now seeing price increases compared to last year’s COVID-19 influenced trends of price decreases.
81 of the 90 metro area zip codes experienced median price growth. This continues to demonstrate robust growth in most of the metropolitan areas.
55 of 90 zip codes experienced double-digit median price gains from 2020 to 2021.
20 of 90 zip codes experienced increases of 20 percent or greater.
Through the first quarter, 80130 and 80126 (Highlands Ranch) saw a dramatic decrease in marketing time as days in MLS dropped by 84 percent and 82.4 percent, respectively.
When you examine all the zip codes in the aggregate, you see an increase in closings of 5.7 percent. While that number is strong, only 66.7 percent of those zip codes closed more transactions in 2021 than in 2020. That means 33.3 percent closed less. 80216 (Globeville and Swansea) posted a large increase in closings of 113.6 percent. Again, the devil is in the detail. 80216 generally closes fewer homes—then factor increased sales from a newer development will create big increases or decreases.
Arguably, we are in the best seller’s market ever. With that said, a rising tide does not always lift all houses, as 10 percent of the metro area experienced a drop in median price. Seven of the nine zip codes that recorded a decrease in median close price were west of I-25.

Contact me below to get the full report or to see how your specific zip code is doing!

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My Pick of the Week!

This beautiful home is located down the street from me, near Sloan's Lake! It has 4 bedrooms/2 baths/3 car garage with new roof, new sewer line and more. Check out more pics here or call me today for a personalized tour.

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Below you have access to homes for sale in the Denver and Detroit metro areas! However, I can also help you with land, new construction or short sales too. Let me know if you would like a personalized search or if you have any questions.