Bridger had a tournament over the weekend, and they did so well! They won three of four games. They’re on fire, and I’m so proud of these kids. Watching them work together as a team and how far they’ve progressed has been much more satisfying than I could have imagined.
Sterling’s favorite teacher is moving away, and she invited him to go out for ice cream, which is super cute. A fun way to get the summer started. Speaking of summer. Can you believe it’s here? I was literally just blogging about snow, like, four weeks ago.
Big shoutout to my in-laws, who consistently help with my kids and have done so since they came out into the world. We lean on them during the summer months more than ever, and I know we’re fortunate to have that.
Okay, work has been taking up all my time, so I’m jumping straight to it…
My Colorado Real Estate Activity
I have a new Black Hawk property coming up in a private HOA called Snowline-Skydale. You can fish in the private ponds there, and it’s a beautiful spot. It’s up for $695,000. Showings start this weekend, so get ready!
I have a new 14-acre horse property coming up in Evergreen on Bear Mountain. It’s going live in August. It’s a special place because it has two wells, a domestic and a residential. Yes, please. It’s on two lots, 7 acres each, so if you want to sell one off, by all means.
One of my clients is purchasing a house on Lookout Mountain, but there was an issue with aluminum wiring in the house, so some codes need to be met. The house is safe, but they want the sellers to contribute a bit to bringing it up to code and they agreed. Aluminum wiring isn’t great, but it can definitely be dealt with, so that’s never a game-ender.
I closed on Hummingbird Hill Road in Conifer yesterday. We listed at $1.15 and got $1.175, so that’s a win. This was an interesting listing because it was rented out, but everyone was happy (even the renters), so all good. I handled both sides of the transaction, and it couldn’t have gone better.
I currently have four properties under contract, and everything is looking good, and it’s all been so friendly! Gotta love that.
Today’s Foreclosure Numbers Are Very Different Than 2008
Family Tour of the Famous Blue Jay Inn in Buffalo Creek, CO - Currently For Sale
Current Denver Area Real Estate Market
Memorial Day BBQs and pool parties took precedence over real estate.
- Our average daily active count rose another 3.9% with 4,694 total listings for sale, 853 of which were new listings. New listings decreased week over week by -33.0% and compared to one year ago new listings are down -23.3% keeping inventory choices tight in 2023. Pending transactions fell from last week by -22.9% with 8.43 listings going under contract.
- Months of inventory grew to a 1.3 month of supply in the 7 metro counties. When this number is below 1 month of inventory it signals that multiple offers are more likely since there are more buyers in the market than homes to sell. The market is hotter and colder geographically with hotter areas in the inner land-locked suburbs running around the inside ring of C-470 and cooler in areas of new construction, Central Denver and in the outer ring suburbs outside of C-470.
- The Odds of Selling decreased this last 3 day weekend by -4.0% to 58.4% when listing last week in the next 30 days. Overall, May’s average Odds of Selling from 2013-2019 was 58.2%. Even in light of higher interest rates demand outpaces the previous cycle, excluding pandemic years, and continues to be a competitive market overall, with the last weekend in May cooling off.
- Based on demand from last week to put our market into balance with a 6 month supply of inventory we would need to have 22,002 total listings available for sale which puts us at 21.3% of balance.
- While only 11,022 showings were set last week, averaging 2.3 shows per property, buyers were slightly more serious in looking at 13 homes before putting them under contract in a median of 9 days.
- The rate of price reductions remained increased this week with 27.2% of units going under contract having to make price reductions. Price reduction size was larger this week at -5.7% off the original price.
Upcoming Events
- North Fork 50M/50K- Grab your running shoes and start training for the race this June in Pine.
- Inspire All Ages NSCD Archery- If archery is in your wheelhouse or on your bucket list, bring the whole family and head out to Wulf Rec.
- Conifer Food Truck Day- BBQ, anyone? The parking lot of Aspen Park Village is home to some barbequed goodies on June 7, and if you bring a same-day receipt from one of the shops, you get 10% off!
- Kids' Fishing Day- This is a free event, but you gotta sign up, so do it NOW if you want your kids to learn all about fishing from the pros!
- Thirsty Tuesday All Day!- If your idea of fun is to work out and then wash it down with beer, this is your golden ticket.
