Monthly Market Stats: August

August stats 3“Who needs a national political convention for entertaining when we get to experience the Denver Metro real estate market? said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “July was an interesting month overall as so many seasonal factors converged, pushing nearly every statistical category into the red zone.” He adds, “The one and only category that showed an increase at month’s end was active listings. As mortgage rates continue to be ridiculously low, it’s a good time to get buyers in the car and go shopping because there is an abundance of listings to quench the thirst of those who were beginning to grow weary over the past few months.”

August Stats 1

 

 

 

 

 

July Stats 2 updated

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

Monthly Market Stats: July

July stats 3 updated“Denver’s red-hot real estate market exploded with a flurry of new listings and active inventory. In June, for the entire residential market (single family and condos), there was a 24.40% increase in active listings and 12.17%increase in new listings compared to the month prior. Year over year, active listings increased 9.67% and new listings increased 6.79%.”

– Anthony Rael, Chairman of the DMAR Market Trends Committee

July Stats 1

July Stats 2 updated

Madison Monthly Market Stats: April 2016

 From Denver Metro Association of Realtors®:

For the entire residential market last month, active listings, new listings, homes under contract, and homes sold showed double-digit month-over-month (MOM) gains. The total sales volume is up 11.93 percent year to date to $3.87 billion.

“Spring has sprung and the Denver-area is bursting with activity,” said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “I’m quite certain homebuyers and my fellow REALTORS® are growing tired of hearing about our lack of housing inventory, so it’s with great pleasure that I share that this month’s market trends report is filled with an abundance of positive news.”    

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