For the fifth month in a row active inventory in the Denver Metro area has risen. Pair that with a 3.33% average close price reduction last month and we are showing more signs of a potential buyer’s market on the horizon. Prices are still up 11% year-over-year, but this is promising news for those looking to find their home here in Denver. The market is normalizing. If you have any specific questions about what that might mean for you feel free to call or email me directly and I’ll answer any questions you may have!
Market Insights by DMAR:
• With the market shift, buyers have the opportunity to be more thoughtful about their home search and their choices in writing offers. • Denver ranked fifteen out of the top 20 metro areas with the most single-family building permits issued at 13.2 per 10,000 people in the first quarter of 2022. • Lumber prices are down 40 percent from their high in May 2021. • The average active listings for July is 15,747 (1985-2021). • The historical average increase in active listings from June to July 4.35 percent. This year’s increase of 21.53 percent represents a healthy increase in housing inventory.
Local Events| Denver
Saturday Night BAZAAR @ Sloans Lake! The Saturday Night BAZAAR weekly market features 50+ local vendors, street food, bands, cocktails and more! 40+ local businesses each week. Join the fun every Saturday from 4pm to 8pm between June 18th to September 24th. More in formation here!
Downtown Lakewood Farmers Market! Saturdays between June 4 and September 24th, head to downtown Lakewood near Belmar for a weekly Farmers Market for 50+ food & craft vendors weekly, food trucks & fashion trucks, mimosas & craft beer, live music, and more! Each event is from 9am to 1pm, so get there early and come hungry! More information here.
Featured Local Business| Denver
Featured this month is Mache Architecture, run by Mary Helen Bussard. Located in Denver, Mache Architecture handles New Builds, Accessory Dwelling Units, Pop Tops, Remodels & Additions, Studies, Structure Documentation, and has a stunning gallery of current and completed projects on their website. If you are in need of an architecture firm, Mache Architecture has the knowledge and reputation to complete your dream project.
If you’d like your business to be featured in a future Newsletter, give me a call or email!
Real estate questions? Wondering how the market looks at the moment? Just want to say hello? Don’t hesitate to call me – I’d love to chat! Don’t forget to follow me on social media – click on the links below!
