Madison Monthly Market Stats: Madison Market Report: September 2017

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Competitive Denver Market Ideal for Sellers

165 Cory-MerrillDenver is one of the nation’s hottest markets. Low inventory paired with the high demand of this popular city mean homes are staying on the market for fewer and fewer days and going under contract faster than anywhere else in the country.

A year ago the average days on market was 43, now it has dropped to a record low of 23 average days on market. One of the three best markets for home sellers, Denver homes are going faster than homes in other highly competitive cities like San Francisco and Seattle.

Denver is one of the fastest growing cities in the nation. Colorado was the fastest growing state from July 2014 to July 2015, with a 1.9% increase. From July 2015 to July 2016, Colorado had a 1.7% increase, adding 91,726 people, according to the Denver Post.

The city’s remarkable popularity and rapid growth means a highly 269 LoHicompetitive housing market. The desirable market paired with low inventory means homes are going at record speeds…and often for above asking price. Approximately one quarter of Denver homes sold in January went for above asking price.

Low inventory, a competitive market, and record low mortgage rates mean one thing: this is the ideal market for those looking to sell or begin investing in new properties. In such a hot market, homes often go for over asking price and are sometimes under contract within just two weeks of listing!

If you’ve been thinking of selling or are just interested in seeing what your home could go for, reach out to your Madison Realtor®! We’re here to help you. Our expert Realtors® will be with you every step of the selling and buying process, rest assured you and your home are in good, capable hands.

Featured Neighborhood: Chaffee Park

(20 of 20) Chaffee ParkWith perfect proximity to almost anywhere in Denver, this North Denver neighborhood is ideal for families, business professionals, singles and everyone else looking to preserve the “cool” factor of Downtown Denver and the Highlands without the higher cost of living.

Spectacular views of the city, beautiful parks, and a welcoming neighborhood community make Chaffee Park a wonderful place to settle down and call home. Neighbors host regular events, encouraging friendship among the lively neighborhood that borders the Sunnyside neighborhood, with I-70 and I-25 easily accessible. Its proximity to the Highlands, Downtown Denver, and LoDo means endless options for popular restaurants, bars, coffee shops, retail and more.

The serene neighborhood is characterized by charming, older homes with large yards perfect for kids, gardening, and backyard parties on warm Denver days. A unique blend of historic Italian and Latino influences give Chaffee Park a vibrant and diverse culture.

This quiet, family-friendly neighborhood is loved by residents for its convenient location paired with a friendly, urban setting.

(18 of 20) Chaffee Park

Madison Commercial Real Estate

Madison & Company has assembled a top-producing team in the commercial real estate industry, with the ability to facilitate the purchase/sale/or lease of in all aspects of commercial real estate including retail, office, industrial, land, multi-unit investments, business opportunities , and commercial short sales and foreclosures. 

The CORE Power Broker Team has some of the best Realtors® in the industry. These top producing brokers are experts in real estate and work tirelessly for every one of their clients.

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You can learn more about the CORE Power Broker team and contact them here.

Madison Report || 2015, Q2

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Q2 in Denver finished out spring and ushered in summertime. With unexpected storms full of hail and chilly winds, we were thrilled when summer finally stayed, bringing the clear blue skies and beautiful mountain weekends we so love. Even more exciting than crazy weather and a spectacular 4th of July, is the Denver housing market we’re continuing to see increase in growth.

Justin Knoll, president of Madison & Company Properties, shares more:

“As we find ourselves in the middle of another summer season, it is clear that Denver is the place to be for people around the globe. For us natives, we know just how amazing the warm days and cool nights can be. We know what it’s like to have a pick of any imaginable outdoor activity right in your backyard. We know about the music, arts and entertainment all around us, topped off by the premier beer and food scene in the nation. We know these things and we are lucky enough to live here to enjoy it.

What we are discovering for the first time is the unprecedented demand for housing in the Mile High City. Sure, we have seen our Real Estate market boom and bust at times but never like this. Denver is now an international city. A place where the limits are endless and the energy is palpable. More people under the age of 34 moved to Denver than anywhere in the US last year and that trend is sure to continue.

During the 2nd quarter of 2015, Denver was ranked as the hottest market in the nation by realtor.com. Supply and demand issues mirrored that of Q1 but things picked up even more. The housing supply in Metro Denver was 5 times less than the National average while the number of homes sold increased by nearly 5% during the quarter. Buyers are scooping up any home they can get their hands on and are paying a premium to do so as average sales prices topped the $400,000 mark for the first time ever in April and buyers purchased a record $2.15 billion worth of homes in June alone.

While we expect to remain one of the nation’s strongest markets in 2015, we do anticipate to see a bit of a slowdown, typical with seasonality. Over the past two months we saw an increase of homes coming on the market. That, coupled with even a slight decrease in demand should give some relief to frustrated buyers who are looking to negotiate on the right home. Interest rates have begun to increase which may send some buyers to the sidelines, thus taking some of the advantage away from sellers who became accustomed to receiving 5 or more offers on their home with hours of listing it. For many of us, we welcome the return of a more stable and balanced Denver housing market.”

To view the full Q2 Market Report Click Here