Change is inevitable. Growth is optional. Opportunity is what you make of it.
Change can be scary, and exciting at the same time. People are born, pass, marry, divorce, have children, receive promotions, retire, and hence move. In my twenty-plus years as a real estate broker or as I prefer to say, a real estate advisor, the one consistency among all clients is their real estate transactions were initiated by a life event. I have had the pleasure of watching clients (now friends) navigate many of life’s major events.
Real Estate and the Pandemic: Oh me, Oh My! June 2022 Market Report
The Pandemic was a game changer for all…particularly Coloradoans. The shift to a full-time remote work allowed people to move anywhere while keeping their jobs. Where did they go? They headed West (and East) to Colorado. Three hundred plus days of sunshine and the Rocky Mountains are features that attracted folks to our great state. The Pandemic was the catalyst that put Colorado’s housing valuations among the top.
Not Ambiguous Denver Real Predictions for 2022
The home you are looking for is still out there: Sellers who lowered their list price weekly over December increased from .5 percent of all listings to 2.8 percent. If you are buying, keep your eye on properties that may drop to the point that works for you.
Put on your superhero cape and jump into purchasing power mode: The median rent nationwide increased 19.7 percent, six times faster than pre-pandemic rates. Denver’s rent is up 17.7 percent on average, almost a $300/month jump. That same $300 translates to $70,000 more in purchasing power for a buyer! If you are a renter and haven’t yet set your 2022 goals, add homebuying to your list!
Did the Year End Like We Thought?
The first snow has fallen, but not the real estate market.
- November's inventory reached its lowest amount to only 2,248 residential housing units.
- $600,000 is the highest median close price for a single-family detached home and ties the records from May and June 2020.
- Buyers are checking off their holiday home shopping lists early. Homes averaged 15 days on the market in November, the lowest November recorded.