Hello friends!
While inventory dropped 20% between April to May, we’ve seen a 50% increase in active inventory between May to June, up to 3,122 at months end. The number of closed homes has also risen about 10% month over month. Both of these statistics are typical of the Summer months, where we see a larger number of homes on the market at a slightly higher price point. This increase in inventory and price usually lasts until about August or September, where we see inventory begin to decline again. 2020 and 2021 have been unusual years, however, so it’s unclear how typical of a pattern we will see this Summer season. Regardless, there will be a lot of homes hitting the market in the next few weeks, so if you are still looking for a home and need an experienced REALTOR® on your side, I would be happy to help!
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Market Insights by DMAR:
• While the Denver market may be cooling slightly, this is a normal seasonality shift brought on a few weeks early by rising temps, buyer burn out, and travel regulations lifting.
• Colorado gained about 50,000 people between July 1, 2019, and July 1, 2020. That includes both migration and births. The state has added about 760,000 people since 2010, the eighth-highest in the country.
• Hiring was 3.2 percent higher in May 2021 compared to April 2021 and was 71.6 percent higher in May 2021 compared to May 2020.
• While home prices are unlikely to drop anytime soon, today’s low mortgage rates are a buyer’s secret weapon to secure affordable housing.
• Average active listings for June is 16,098 (1985-2020). Record-high June was 2006 with 31,900 listings and the record-low was set this year with 3,122 listings.
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Farm & Flea at Stanley Marketplace
Every Friday from June to August 27th from 9AM to 1PM, join 20+ vendors and the shops at The Stanley Marketplace in Aurora for a produce-driven, family-friendly, FREE event. More information HERE!
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Hudson Garden’s Central City Opera!
Enjoy the beautiful grounds at Hudson Gardens and see a spectacular Opera performance from Central City Opera! Performances include Rodgers & Hammerstein’s Carousel and Rigoletto – tickets available now!
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Featured Local Business | Denver
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I know the last year has been tough on a lot of us, so I also wanted to take this opportunity to feature a local business each month from my community that I can recommend highly!
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.
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If you’d like your business to be featured in a future Newsletter, give me a call or email!
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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!
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