A Denver Real Estate Health Check

According to a recent Denver Business Journal article, a report by New York-based financial services firm SmartAsset ranks Denver 9th in the nation among the healthiest urban housing markets. Factors analyzed for the study include stability, risk, fluidity (ease of sale), and affordability.

This is awesome news for local homeowners and those considering investing in the Denver Metro housing market. A couple of nifty highlights accompanying the report:

  • Homes in Denver are selling faster than anywhere else in the country at an average of 8 days from Listing to Contract.
  • The report found only 3.1 percent of Denver homes were decreasing in value, against a national average of 12.5 percent.

The market is hot, but that doesn’t mean you can afford to rest on your laurels. Maximizing your home’s potential as a Listing still matters, and experienced representation is vital for Buyers, who are up against a lot of competition in a market favoring the Seller.

If you are seeking a guide in our fast-paced marketplace or know someone who could use a hand, I’m happy to help. Give me a buzz or drop a line to find out what your house is worth in today’s market, or to plan the next move in your home search.

Jack Meyers

The Meyers Group
jackestate@aol.com 
303.263.3050
Twitter: @jackestate

Home Sales Rise in September

As a longtime Denver real estate professional, it is so gratifying to see a strong home market here in Colorado – and nationally as well. Rather than the typical autumn cool down we see this time of year, home sales actually increased in September. Big thumbs up from me! Let’s talk about some specifics.

  • According to National Association of Realtor (NAR) stats, home sales rose 3.2% in September from the previous month – the highest they’ve been since June.
  • The national median home sale price rose 5.6% to $234,200.
  • In the West (including Denver), sales rose 5%, second only to 5.7% gains in the Northwest.
  • Mortgage rates remain near the historic low set in November 2012 (3.31%) rising slightly last week to 3.52%.
  • 34% of September buyers were first timers, the highest first time buyer rate since July 2012, according to NAR.

For home owners, this is a great time to sell. Home builders are cranking out fewer homes than they have in the past year or two at this time, and demand continues to outpace the available number of homes. If you’re thinking about selling, you can expect to be met with a strong positive response from potential buyers.

For buyers, you need to be pre-approved for a mortgage, you need to be flexible, you need to be ready to act and you need the help of a Realtor – an expert who can help you snag the best possible deal and best possible home for you in this ultra-competitive marketplace.

If you are ready to sell or consider a home purchase in the greater Denver Metro area, get in touch. Now is a great time to be a homeowner, and whether you are buying, selling or weighing your options, I’m happy to help you take the next step.

Jack Meyers

The Meyers Group
jackestate@aol.com 
303.263.3050
Twitter: @jackestate

 

October – More Treats than Tricks in Denver Real Estate

According to a November 5th Metrolist Inc report, housing prices in the Denver area increased by 9.12% year over year in October.

While prices remained steady from October with a slight decrease in the overall number of closed sales (4628 in October vs 4730 in September), statistics continue to show that the housing market in Denver is on the way up.

Another thumbs up from the market? Average days on the market in October was 44, down significantly from 66 average days on the market the same time last year.

What does this mean for you, Average Joe {or Jane} considering selling your home? This information means that selling your home is an even more viable proposition than it was a year ago. Homes are not languishing on the market – even in October, which historically is not the strongest month of the year by any means. Home prices are impressively better than they were one year ago. I’m thrilled that the average sales price is above the 300k mark. This is good news for my industry, and great news for regular folks looking to make a move.

Need more information? Call me to talk turkey! {I love a Thanksgiving pun as much as the next guy.} I’m happy to give you the inside track on your community and let you know what is happening with homes in your neighborhood or price point.

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate