The Madison Report: Q2 2016

The Madison Q2 report is here! Madison president, Justin Knoll, shares an update on the market. You can view the full report here.

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Welcome to the second half of 2016, a year sure to be remembered for its fast pace, dramatically increasing pricing and multiple offers on nearly all transactions. Statistically, 2016 has been remarkable as homes on the market hit a new record low for the month of May at 5,463 active listings. The average number of active listings in the month of May is 16,981, while the record high was 30,457 in 2006 and the record low was 5,657 in 2015.

Just one month later, things shifted dramatically as there were 7,615 new listings to hit the market, a 12.17% increase compared to the month prior, creating a 9.67% increase year over year. 5,587 homes were placed under contract (-4.61%), 5,324 homes sold and closed (+2.94 %) and 6,796 active listings remained on the market for buyers to consider. While this is typically a time when inventory grows until its peak in August and September, this was a rather large jump for the market in one month.

Average and median sold home prices edged up again from the previous month with appreciation gains of 2.77% to $421,266 and 1.39% to $365,000 respectively. Buyers are feeling some pressure to act fast as the average days on market closed the month at 26, compared to 31 in May.

With continued inventory issues, increased demand and historically low interest rates (thank you Brexit) the rest of the year appears to be a continuation of the hot year we have had so far. While it may be daunting to some, others are finding opportunity in most market segments and buyers and sellers are having success accomplishing their goals.

It is a true professionals market as many deals are closing mainly because of the hard work of Realtors and lenders as transactions are more complex than ever. Our advice, have clear goals, partner with the best professionals and be ready to pounce…Denver is still the place to be.

– Justin Knoll President, Madison & Company

Featured Agent: Gina Saab

Gina Saab knows Denver inside and out. That’s just what happens when you’ve lived in a city your entire life, as Gina has. Denver has her heart and she loves helping people reach their goals in this great city.

Saab_FeaturedAgentPhoto2 Transparent copyTaking a five-year hiatus from Denver, Gina attended school in Boulder, moving back to the city she loves after graduation. One of Madison’s first agents, she has been with the company for over six years. Gina loves the people who live in Denver almost as much as she loves the city itself; and being able to help clients buy, sell, and achieve their goals drives her work as a top Denver REALTOR®.

Denver allows Gina to pursue her other interests – snowboarding, hiking, camping, downtime in the city, and delicious brunches in this foodie city obsessed with mid-morning cuisine. She lives in Platt Park with her two sons – Emory, a 15-year-old sophomore in high school and Jude, a 12-year-old in 7th grade. The newest member of their happy family is Marco Esquandolas, a sweet little puppy who loves going on adventures, especially in the mountains where the whole family loves spending time. Gina also enjoys live music, tennis, yoga, and traveling as much as possible.

After all her years with Madison & Company, Gina believes it is the best brokerage out there. Her experience is one of support and community, where everyone is focused on their personal growth and learning while also sharing knowledge and experience with one another.

“It’s a group of solid, successful, consummate professionals that I’m proud to be associated with,” she said.

Gina is more than a veteran at Madison & Company, after six years with the firm, she is highly respected both by her peers at Madison, and throughout the industry. She is enthusiastic, and her forward-thinking mindset has earned numerous awards at Madison, including the Top Producer Award year after year.

Gina loves that Madison offers the best of real estate worlds with the small and personal feeling provided by the boutique firm, paired with excellent support, marketing, and team environment. It allows for true professional growth and development while being on a first-name basis, and truly friends, with the people running the company. A uniquely special and wonderful environment indeed!

“I am so proud to have Gina be part of the Madison team. She started with Madison right after we opened our doors and to see how she conducts her business year in and year out absolutely amazes me! She is truly an integral part of our Madison family.” – Todd Narlinger, Broker Owner

 

 

Thanks(for)giving

Thanksgiving is a beautiful time to be grateful for what we do have, but the holidays also often bring to mind those who do not have as much.

Each year, Denver Metro Association of Realtors, Young Professionals Network (DMAR, YPN) holds the Thanks(for)giving Food Drive. Real Estate offices throughout the city are contributing to this great cause, with all donations going to the Food Bank of the Rockies.

We have Thanks(for)giving collection boxes in each of our Madison & Company offices, addresses are listed below. Please contact your real estate agent or drop by the office with donations for the food drive!

We are always thrilled to have an opportunity to give back to the community, and Thanksgiving is the perfect time.

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Our Offices: 

Washington Park

1221 S. Clarkson Street, Suite #400

Denver, CO 80210

Denver Tech Center

5975 S. Quebec Street, Suite #100

Greenwood Village, CO 80111

Lower Highlands

3209 Tejon Street

Denver, CO 80211

Cherry Creek

201 Milwaukee Street

Denver, CO 80206