October 2018 Market Update

Happy October!

For our friends on the Denver Metro Association of Realtors Market Trends Committee, this has been the most action-packed season they have studied in quite some time. Just as we are winding down another year of low inventory and lower interest rates, something happened that many did not see coming.

In September, housing inventory continued to move higher, even though it typically decreases this time of year, and home prices dropped nearly 5%, since its record-peak highs this past May and June. A quick departure from what had become the norm, as sales of single-family homes over $500,000 dropped 33% from August to September, causing sellers some turbulence they were not braced for. Price reductions and longer days on the market are grabbing the attention of buyers who were taking a break from the buying frenzy, to now trying to find a “deal” that did not exist even a month or two ago.

More signs of cooling can be seen with months of inventory increasing to 2.33 months for single-family homes in September compared to 1.68 months the month prior and increasing to 1.93 months for condos compared to 1.48 months in August.

Going forward, expect interest rates to rise into 2019 and beyond as economic indicators stay strong, which will shelf some buyer’s opportunity to make a move. Also, look for listing inventory to find higher levels than we have seen, which could bring investors back to the table looking for fresh opportunity. The sky is most certainly not falling but things are shifting a bit back towards a balanced market.

Blurb courtesy of Justin Knoll

Cheers,

Madison & Company Properties

Madison Monthly Market Stats: April 2018

“It’s that time of the year again: March Madness. warmer weather and the spring selling season. Sea­sonally, March signals the start of the spring selling season bringing increased buyer and seller activity. Buyers will see more properties available for sale, while sellers will see increased competition from other sellers. This is evident as we added 6,335 new listings in March, an increase of 36.44 percent from last month. That increase was slightly ottset by 5,674 listings being placed under contract. demonstrating strong buyer activity. As predicted, the number of homes sold so far this year is slightly off-pace from the first quarter of last year by 6.03 percent. The anticipated cooling effect of unafford­ability has yet to materialize in the figures. All in all, good numbers across the board with the same story line of low inventory and prices moving higher.”

– Steve Danyliw, Chairman of the DMAR Market Trends Committee

2018_April_Market Update

4 Unique Ways To Give Back During National Volunteer Month 2018

April is National Volunteer Month! Whether you venture out on your own or get together with your friends, family, or coworkers, Madison & Company encourages you to spend some time giving back to your community at one of these Denver area organizations—this month and on an ongoing basis!

If you love gardening and the outdoors… 

Get outdoors and help restore a natural place! 

Restoration volunteers with the Bluff Lake Nature Center work throughout the year to plant trees, restore trails, and remove invasive species throughout Bluff Lake’s 123 acres.  Activities include restoring and preserving habitat, planting native plants, maintaining the short-grass prairie gardens, removing noxious plant species, trail construction and trash pick-up. To become a restoration volunteer, or to schedule a time slot, you can contact Chris Story at cstory@blufflake.org or 303-945-6717.

For other outdoor volunteer opportunities for individuals and groups, check out Volunteers for Outdoor Colorado.

If you like talking as much as you love books…

Use your radio voice and help record audiobooks for the Colorado Talking Book Library! 

For people who can’t read standard print, the Colorado Talking Book Library provides audio, Braille, and large print books. You can join the studio team to help review, record, or narrate audiobooks for those who are hearing impaired. To learn more about the requirements, time commitment, and skills needed, you can visit their website.

If you have a knack for organizing and sorting…

As a creative reuse store, Recreative Denver gets an average of 100 lbs of donated materials daily. Become a volunteer inventory coordinator and help sort through new donations, price things, and place them in the storefront. It can be a fascinating treasure hunt but it is also overwhelming for their (very) small staff and they can use all the assistance they can get. To volunteer, you can fill out the form on their website!

If you want to help knock out hunger

Metro Caring is Denver’s leading hunger relief organization. Become a warehouse or market volunteer and help end hunger at its root!

Warehouse volunteers help inspect, clean, sort, and organize food donation deliverers. This is great for those seeking a volunteer community or those who want to volunteer with friends.

Market volunteers help to restock shelves and keep the produce cooler full, help participants shop our market and find foods that work for their family, and help participants out to their cars. These roles involve participant interaction and working in pairs to accomplish volunteer tasks.

There are plenty of other ways to offer help….

These are only a few ways you can help! To explore more opportunities, head to volunteermatch.org and find exciting volunteer opportunities near you. You can filter the results to find opportunities that fit your schedule and your talents so that you can support causes you are passionate about in your community. Get to work!

 

Madison Monthly Market Stats: March 2018

Madison Monthly Market Stats: February 2018

2018_February_Market Update

Madison Monthly Market Stats: January 2018

2018_January_Market Update

Madison Monthly Market Stats: December 2017

2017_December_Market Update

Madison Monthly Market Stats: November 2017

Madison Market Update_Nov17 v3

 

See full DMAR Report here.