Local Pulse - October 2022

mark@city2summitrealty.com • 720.257.1541 • city2summitrealty.com

Market Update | October 2022

Spooky season is finally here, something I’m sure all of you with (or without!) little ones have been looking forward to all year. The leaves are changing, the weather is cooling, and the fun decorations are being put up around town. In contrast to the excitement of Halloween, the real estate market has given us no surprises in the last month. Inventory is up and homes are on the market for longer before being sold – both seasonal indicators and give some relief to those looking for their dream home. Prices, however, are still creeping up in most of the Denver Metro Area, continuing to build equity for current homeowners – leading to favorable conditions for both buyers and sellers.

Market Insights by DMAR:

• Lumber prices are back down to pre-COVID levels.
• The U.S. housing market slowed considerably from the height of the pandemic’s home buying frenzy with sales down 20 percent from a year ago.
• The National Association of Realtors’ 2022 Remodel Impact report found that refinishing hardwood floors, installing new wood flooring, replacing roofing, and installing new garage doors topped the list of projects with 100 percent or greater cost recovery.
• Rents dropped nationwide for the first time in two years.
• The average active listings for September are 15,663 (1985-2021).
• Record-high September was 2006 with 31,450 listings and the record-low was set last year with 3,971 listings.
• The historical average decrease in active listings from August to September is 0.36 percent. An increase of 10.72 percent this year represents a large increase, but last year’s increase was a similar 10.86 percent.

Local Events | Denver

View the Largest Pumpkins Ever Grown in Colorado!
Two of the largest pumpkins grown in Colorado will be on tour this weekend and throughout this month. Howie and Greta, as the pumpkins have been named, would make for a great picture with the family and their sizes are truly massive. Howie officially weighed in at 1,783 pounds. For more information on where to find these giants, check here!

The Littleton Melting Pot’s Tour of Terror is Back!
With Famously one of Colorado’s most haunted buildings, the Littleton Melting Pot location is once again hosting their annual Tour of Terror! Every Saturday in October experience a truly unique event as you get an intimate tour and late night dinner. Once dinner is completed, your paranormal investigation can continue on until 1:45am. More information available here!

Click Here for a full list of fun Halloween Events in Denver!

Featured Local Business | Denver

Featured this month is Solid Ground Flooring, LLC, locally owned and operated by Laban Matthews. Solid Ground Flooring specializes in all things flooring, from bathrooms to kitchens to everything in-between. You can reach out directly to Laban for a quote at 303-550-1996 or solidgroundflooring@live.com.

If you’d like your business to be featured in a future Newsletter, give me a call or email!

Please click the above image or download the full PDF HERE for more information on Deed Theft and the importance of Title Insurance.

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!

mark@city2summitrealty.com • 720.257.1541 • city2summitrealty.com

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