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April Sees a Spike in Denver’s Inventory of Homes

Small House With Sold Label Attached To It

Often, when taking the pulse of the housing market, we look at the average sales price of a home, the number of homes that have sold, and the active inventory. These are all important metrics when determining the health of the market. Indeed, in April, the average price of a single-family home sold in the Denver metro area soared to a never seen-before record of $543,068, according to a report by the Denver Metro Association of Realtors.

One of the most promising measures of market strength was not the record home price, but the number of homes placed under contract. According to DMAR, 6,097 single-family homes, condominiums, and townhomes were placed under contract last month. That was the best April for under contracts since 2013, when 8,223 homes were placed under contract. Last month was the first April since 2014 that more than 6,000 homes were placed under contract.

One of the best indicator of the sales activity in any given month is how many homes go under contract. Sales, by contrast, measure the number of homes that were placed under contract in previous months. There were 4,384 total sales last month, almost a 9% drop from April 2017. Of course, a certain number of homes placed under will not close. But in Denver, where there is only a 1.24-month supply of unsold single-family homes, some buyers are often able to purchase a home that did not close under its initial deal.

Buyers also had more homes to choose from in April than in March. 6,917 new listings hit the market in April, a 9.12% increase from a year earlier and almost a 5% increase from March. Homes also sold much faster in April than in March. Buyers, on average, snapped up listings after they were on the market for a mere 20 days in April 23% faster than the sales pace in March.

Sellers also did a good job of listing their homes at the appropriate price. The average closing price for a single-family home was slightly above the average listing price, according to DMAR. Overall, homes closed at just under 1% over the listing price. The mix of homes sold likely helped drive up the average price of single-family homes in April.

Once again, the luxury market of homes priced at $1 million or more was the best-performing price strata. A total of 196 luxury single-family homes and condominiums traded hands last month. Which was the best April on record for luxury home sales.  Luxury home sales were up 33.33% from a year earlier. Luxury single-family home sales led the way, with 184 homes closing, a record for an April. That was a whopping 40.46% more than a year earlier. Total sales volume of luxury single-family homes rose to $281.6 million, soaring 41.13% from April 2017.

 

Take Me Out To The Ballgame

Baseball Season

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It’s an exciting day in Denver, Colorado for baseball fans. Today is Opening Day for the Rockies and the 26th season to date! Forming the Rockies team has had an interesting history as they only became an official team to the MLB in 1993. With several failed attempts to form a Denver Baseball team since 1961, it wasn’t until a banking executive, Denver tax payers, and an advisory committee got together in 1990 to make moves on the Rockies becoming official.

“The Colorado Baseball Commission, led by banking executive Larry Varnell, was successful in getting Denver voters to approve a 0.1 percent sales tax to help finance a new baseball stadium. Also, an advisory committee was formed in 1990 by then-Governor of Colorado Roy Romer to recruit an ownership group. The group selected was led by John Antonucci, an Ohio beverage distributor, and Michael I. Monus, the head of the Phar-Mor drugstore chain. Local and regional companies—such as Erie Lake, Hensel Phelps Construction, KOA Radio, and the Rocky Mountain News—rounded out the group. On July 5, 1991, the National League approved Denver and south Florida as the sites for two expansion teams to begin play in 1993.” Source

The National League (NL) and American League (AL)

The National League originated with 8 teams in 1876 – Brooklyn, Chicago, Boston, Cincinnati, New York, Philadelphia, Pittsburgh, and St. Louis. “All 8 franchises are still in the league, with 5 of the 8 in their original locations.” –Source

In 1901 the American League formed as the ‘junior circuit” to the NL, also compromised of 8 teams at the start, in 1960 the AL voted to expand to 10 teams. By this time, MLB was ready to develop 12 teams in each league that took the field in 1969. It was this expansion that led to Divisional Play triggering a new round of playoffs to decide the pennant winners.

Larry Walker MVP

Although the Rockies have never won a World series, they are still an exciting team to watch. In 1997 Larry Walker, known collectively has one of the four “Blake Street Bombers” won the  MVP Award. Walker, coined as a five-tool player, destroyed the field with .366/.452/.720 with 49 home runs and 120 RBI. No wonder why he was inducted into the Hall of Fame!

Don’t forget to grab your peanuts and cracker jacks, sing along to the National Anthem, and grab a couple cold ones when supporting our very own CO Rockies this season!

 

For more history on the NL, AL or Rockies, see the video and check out the link below!

MLB Franchise History and Expansion

 

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Start Growing your Flowers and Vegetables Indoors Now!

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Don’t let this past Sunday’s snowfall fool you, spring is right around the corner and if you have a green thumb you can make the most of this time! Professionals recommend starting to grow your harvest indoors about 6 weeks before the last frost. Denver’s last frost is projected to be April 30th and the first fall Frost is likely to be around October 10th. That gives gardeners 162 days to complete their harvest.

Best Vegetables to Grow

Some areas are better equipped to grow edible foods than others. The vegetables that will be best suited for mountain areas like Colorado are: Leafy greens (lettuces, arugula, kale, spinach, Swiss chard, mâche, collards, cabbage, endive, radicchio, turnip greens, beet greens, garden cress) and Roost vegetables (carrots, beets, radishes, turnips, kohlrabi, rutabaga, potatoes, leeks). For more in-depth planting tips check out Colorado State University’s extension hitting points like type of soil, site selection, raising beds, and more! It is important to note that these vegetables will need full access to the sun!

Best Flowers to Grow

According to D Dennison at k99.com:

Perennials

  • Dianthus: Part sun/sun, up to 3 feet tall and 18 inches wide (max), spring and summer bloom, drought tolerant and attracts birds
  • Rocky Mountain Penstemon: 1-3 foot, Royal blue flower, prefers dry-light-well preserved soils
  • Oxeye Daisy: wide spread flowering plant, best for large yards or meadows
  • Purple Coneflower: 2-5 feet, lavender flowers, showy and easy to grow
  • Liatris: 1-3 feet, purple flower that blooms July, August and September
  • Rocky Mountain Columbine: Colorado State Flower (since 1899), easy to grow, shade or part sun
  • Poppy Mallow: Under 6 inches to 3 foot, fall-spring and summer bloom and drought tolerant

Annuals

  • Disacia: Great for hanging baskets and containers, 12-18 inches high with a wide range of colors from apricot to red, lilac and white
  • Angelonia: 1-3 feet tall, attracts birds and is low maintenance
  • New Guinea Impatiens: Can be blue, orange, pink, red and white and is a summer and fall bloomer
  • Verbena: Likes the sun, deer resistant and can be a perennial
  • Petunia: Blooms in the spring, summer and fall and fairly weather resistant
  • Zinnia: Summer bloomers, likes many soils and an easy-quick grower
  • Gazania: drought-tolerant, bloom over from spring to fall and prefer sun

Starting Small

Now that you have the plants you intend to grow here are a few tips to starting small indoors and then easily transplant them when the time is right.

  1. Use an egg carton – keep in mind that not every seed will grow to maturity
  2. Once they start sprouting transplant then to a bigger pot until they can be moved outdoors
  3. Make sure the trays/pots are clean and use a starting mixture of potting soil
  4. Label the trays so you know what you planted
  5. Provide heat and light – if you can, place by a window that gets a lot of sunlight

If you have never been to Denver’s Botanical Gardens, I highly suggest you go! Not only is it beautiful but they can provide you with more tips and tricks to your home gardening.

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Our Pot Of Gold – A Pinch of Spring Cleaning and Greening

Selling Your Home This Spring

St. Patrick’s Day  is right around the corner which means so is Spring! This is the time of year that most people start Spring Cleaning and slowly put away winter gear; which is great timing since it is also the time of year when Selling your Home is at its peak!

Top Reasons Spring is the Sell Season

According to Realtor.com these are 5 Reasons to Sell Your Home Soon:

  1. Rates are still historically low, drawing buyers into the market
  2. Inventory remains tight- and demand HIGH –more likely to sell FAST
  3. Home prices are still increasing — get your monies worth!
  4. People have more in their pocket
  5. Millennial’s are transitioning from Rent to Buy — they’re ready to commit and there are a ton of them!

Winning Over Spring-Time Buyers

Let’s face it, a clean home is more inviting. We wouldn’t normally think to do some of the things Martha Stewart suggests on her Spring Cleaning Checklist, but they are great points, take a peak to really excite those buyers! Culturally, as a whole, spring cleaning is only done once a year (thank goodness) but don’t make it a chore!  – Put on your favorite music, wait for a warm day so you can open the windows for fresh air, continue the St. Patrick’s Day celebration and grab a beer and have fun!

Irish saying

Most importantly, don’t forget to celebrate Saint Patrick this weekend with a Guinness, green attire and the Denver St. Patrick’s Day Parade; don’t worry, everyone is Irish on March 17th — then let’s talk about what your home is worth and how I can best represent it. Check out my Selling Strategies for more insight! Sláinte!

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DENVER REAL ESTATE MARKET EXPERIENCING RECORD LOW LISTINGS

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The Denver area real estate market is on pace for a second consecutive year of record low listings and record-setting home prices.

In January 2015, there were 5,152 homes listed by Realtors, which is a four percent decrease from the 5,352 homes listed in December 2014 and a huge 26 percent drop from the 6,981 active listings in January 2014, according to REColorado (formerly Metrolist).

A total of 3,964 new listings were added to the market in January, which was 62 percent more than in December 2014, but the vast majority of these homes were sold quickly in Denver’s current robust market. A total of 4,514 single-family homes and condominiums were placed under contract in January for a 28 percent increase from December.

However, for each new home hitting the market, more than one listing was sold. So when demand is greater than the supply, simple economics dictates that prices will rise…and prices are rising in rapid fashion.

REColorado reported the median price of homes sold in January was $285,000, a 14 percent increase from the same period last year. The record low supply, coupled with strong demand, bodes well for continued home appreciation, which means prospective buyers should act promptly in order to avoid additional price increases while taking advantage of mortgage loan rates that remain below four percent.

Despite record low inventory, there are still outstanding home buying opportunities that can fulfill your great American dream of home ownership. The market is challenging, but an experienced Realtor can map an individual strategy for buyers and sellers alike. Please visit www.DenverRealEstate.com and make your dream come true in a seamless, rewarding manner.

DENVER HOME RESALE PRICES HIT RECORD HIGH

Right now, Denver has one of the strongest real estate markets in the country. In fact, it was just announced that home resale prices in our area hit record highs in September.

According to the S&P/Case-Shiller Home Prices Index report, Denver continues to outpace the growth rates of many other metro areas. While price growth has started to settle in those other markets, the slowdown has yet to take hold here in our neck of the woods.

In September, the Denver metro area had a 6.2 percent gain in year over year resale prices. While that is a strong gain, it does represent a bit of a fall from recent growth rates in July and August — 6.7 percent and 6.3 percent respectively. Back in March of 2014, the year over year growth was a staggering 9.1 percent.

The Denver real estate market is continuing to grow, but the signs are there for a potential slowdown in the future. We may be slowly sloping toward the current national average of 4.8 percent growth in year over year price gains.

The S&P/Case-Shiller report makes it clear that local home sellers are in a great position at the moment. Resale prices have hit a record high thanks to a year of significant and sustained gains. Growth rates have hit their peak and started to slow, suggesting that right now is an excellent time to sell.

Contact Jim & Helena Buckley about your real estate needs in the Denver area today. Call (303) 773-3399.

Lone Tree

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The wide range of diversions available to Lone Tree residents virtually on their doorsteps inspired the town motto: “It’s a great day to be in Lone Tree.” In addition to the Lone Tree Summer Concert Series, Lone Tree Library, and a wealth of world-class shopping, the area’s extensive network of walking and biking trails helps residents stay fit and feel connected to one another and with nature.lonetree_horse_statue

A kaleidoscopic array of stores offers everything from basic necessities to upscale luxuries certain to delight even the most discriminating shoppers. Salons, spas, yoga studios, and fitness clubs also abound within Lone Tree and surrounding communities.

Other notable facilities close by include Sky Ridge Medical Center, Centennial Airport, the Entertainment District, and Wildlife Experience.

Among the most popular in the Douglas County system, the Lone Tree Public Library offers year-round educational and entertainment programs for children and adults alike, while the aquatics facilities, regulation-size gym, state-of-the-art exercise equipment, aerobics room, indoor track, and racquetball courts at the Lone Tree Recreation Center cater to the needs of hardcore fitness buffs as well as novices.

From its perch atop the hills south of Park Meadows Mall and C-470, Lone Tree offers commanding views Denver, the Front Range Mountains, and tracks of native open space south of town. Designed by Arnold Palmer, the Lone Tree Golf Course winds across the slopes in the southern half of town, while the north neighborhoods border expansive Sweetwater Park and its quainter “sisters,” Cook Creek Park and Pool and Altair Park.

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Residents can now access a widened and improved I-25 together with the new Southeast Light-Rail line for an efficient commute to the many cultural and major-league sports venues in Downtown Denver. Meanwhile, ongoing projects and developments continue to inject new vitality into this already thriving community.

Highlands Ranch

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Recreation, open space and healthy living define old Phipps Ranch. Nestled throughout 23,000 acres previously owned by Lawrence Phipps Jr., one of the original owners of the Denver Broncos, the sprawling cattle ranch is now one of the finest master-planned communities in the country. It features distinctive neighborhoods showcasing a variety of Denver Real Estate, more than 2,000 acres of natural open space and parks, and outstanding recreational opportunities.

Residents enjoy magnificent views of the majestic Rocky Mountains and nearby reservoirs, plus a variety of conveniences, such as libraries, shops, restaurants, and municipal offices located in the pedestrian-friendly “Urbanist Style” Town Center.
Highlands Ranch is a healthy place to live, and golf enthusiasts will appreciate some of the finest courses in the state. Parents also appreciate highly acclaimed schools from the Douglas County School District, plus private schools.

There’s always something going on in Highlands Ranch with a wide variety of community events scheduled throughout the year.

It’s a place where you can grow, learn, prosper, and enjoy a highly desirable Colorado lifestyle on your terms. It’s where Denver Real Estate blends flawlessly with open space and recreation.

Cherry Hills Village

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Cherry Hills Village, one of the nation’s most elegant suburbs, is also among the safest. A tranquil, rustic community of gently rolling hills, mature trees, sumptuous mansions, bridle paths, and gravel roads, Cherry Hills Village numbers among the ten wealthiest suburbs in the country.Here, it has been said, “gravel roads are a matter of deliberate choice rather than a lack of funds.”

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Estate-size properties, many with stables and fenced for keeping horses, feature an array of exquisite masterpiece homes in a stunning variety of styles including contemporary, classic ranch, Mediterranean, French Country, and Cape Cod. In Cherry Hills, modern and rustic, avant-garde and classic, old and new mix comfortably.

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Strict zoning and a strong commitment to trails and open space have enabled the Village, dotted with pocket lakes and small streams, to preserve a rural ambiance and exceptional quality of life despite being surrounded by more densely populated communities.Although Cherry Hills does not allow commercial development, a wealth of retail and services are readily accessible nearby via modern thoroughfares bordering the community. Mean commute time from Cherry Hills to work is just under 22 minutes.

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Greenwood Village

 

A HIGH QUALITY LIVING EXPERIENCE

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Greenwood Village is one of the most desirable communities in metro Denver to live, raise a family, start a career, retire, run a business, enjoy lunch with friends, or have a fabulous evening out. Whatever the occasion, you can expect a high quality experience and nothing less in Greenwood Village.In the 1950’s, Greenwood Village was a land strewn with farms, dairies, gravel roads, and a population of about 500 residents. Today, those rural elements have been preserved with the addition of a developed, dynamic blend of urban and residential areas, plus nationally recognized business parks that contribute to the well being of the Village. The land that is now Greenwood Village has a long and proud history beginning with pioneers and native Americans who first settled the area. During the 1860’s, settlers came from the east and mid-west to find gold. By the early 1900’s, the Village area thrived with orchards of cherry, apple, apricot, plum, and pear trees. In some important ways, Greenwood Village remains the same. Parents still want the best for their children, and neighbors come together to celebrate important events in the life of the community. Horses can still be seen grazing in pastures, and people of will still step forward to lead and plan so that the quality of life can be maintained. The community exudes a charming country ambiance in the form of an extensive system of interlacing parks, greenbelts, parkways, and biking, hiking and equestrian trails.
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Greenwood Village boasts an ideal location, robust economy, and nationally renowned schools districts, including the Cherry Creek and Littleton districts known for high academic achievement. The Village offers a variety of wildlife, waterways, remnants of historic structures, and colorful gardens. Village cultural life is exemplified with a renovated 1914 school house that is now the Curtis Arts and Humanities Center. Programs and workshops emphasize fine arts and bookmaking, music, the arts in schools, and senior exercise classes. Another cultural icon, the Koelbel Public Library, offers an extensive collection of books, periodicals, and videos together with an art gallery, espresso bar, and a used-book store. Greenwood Village Day showcases hands-on art activities, interactive games, and live stage shows for young and old alike.Greenwood Village offers adult softball, volleyball, and basketball leagues throughout the summer, and golf enthusiasts enjoy a world-class golfing experience at nearby courses including Lone Tree Golf Club, Glenmoor Country Club, South Suburban Golf Club, and the private Cherry Hills Country Club.

The Village offers a wide variety of Denver Real Estate, including condominiums, townhomes, mainstream single-family homes, and multi-million-dollar estate homes. Many enclaves are highlighted by panoramic views of the majestic Front Range, downtown Denver, and landscaped greenbelts. Dining opportunities are in abundance and unmatched in the metro Denver area. Shopping is also first-class, along with entertainment and concert venues, nearby reservoirs and wilderness areas, and so much more.

Residents of Greenwood Village enjoy comfortable commutes to Denver International Airport and quick excursions to Colorado’s magnificent high country. It’s simply a great place to live, and the housing choices are among the finest in all of metro Denver.

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