Denver Real Estate News – February 2024

  Shadow or No Shadow, Real Estate Shines Bright as Spring Approaches   An early spring isn’t just limited to the anticipation of warmer weather — as we’ve been predicting, a busy real estate season is beginning to bloom! Buyers have started to turn up to the market in droves, thanks to mortgage rates that have dropped a full percentage point since October. Due to this decline in rates, homebuyers with a $3,000 monthly budget have gained nearly $40,000 in purchasing power. That paired with a welcome increase in inventory is providing them more choices than they’ve had in a long time.   New listings increased almost 15% year-over-year to 3,280 and pending home sales increased 6.5% to 3,294. Although buyer activity has increased, many buyers still seem to be choosier than they have in years past. Prices are still at all-time highs and buyers want more bang for their buck, desiring move-in ready homes to help alleviate the sticker shock of current home prices. Median days in MLS has increased by almost 6% to 36 days. Closed sales have declined by about 6.25%, although that shouldn’t be surprising as these homes likely went under contract in December which is our traditionally lowest inventory month of the year.    The Fed did not adjust interest rates this past month and likely won’t make an adjustment for a few more months. Many buyers are sitting on the fence in anticipation of the coming rate drops, which is increasing pent-up demand. When rates do start declining, we may see inventory tighten up, creating competitive scenarios once again. Our local real estate market feels like it continues to hover near balance, with delicate ebbs and flows of buyers or sellers having more favor based on our current most influential driver – the pesky and ever-changing interest rate!    Info for Sellers Buyers’ Budgets Bloom, Yet Hunger for Added Value! With the onset of an early spring real estate season ahead, sellers have an opportunity to capitalize on current market dynamics. The significant drop in mortgage rates since October has fueled a surge in buyer interest, with buyers gaining substantial purchasing power as mentioned above. As these buyers are more discerning than those in years past, it’s still wise to put your best foot forward when listing your home.    Consider enhancing your property’s curb appeal, addressing any necessary repairs, and showcasing its unique features. Additionally, as the median days on the market have increased, strategic pricing and effective marketing can help maintain buyer interest and expedite the selling process. It’s crucial to stay informed about local market trends and consult with a knowledgeable real estate professional to make informed decisions that align with the current ebb and flow of buyer demands and market conditions.   Info for Buyers As Borrowing Power Grows, Competition Flowers With rates down, purchasing power is up and more rate drops are on the horizon. As borrowing power increases, buyers should be prepared for competition, especially for more desirable homes. We are already seeing new listings with multiple offers going under contract in a matter of days. If a home is priced correctly, is in good condition, and is in a desirable location, it’s unlikely that you’ll be its only suitor. Keeping a close eye on the market is also essential, as these potential rate declines bring increased demand that will lead to a subsequent tightening of inventory. Collaborating with a knowledgeable real estate professional can provide valuable insights and guidance, helping buyers navigate the delicate dance of Denver real estate! (Info Source: D.M.A.R. (The Denver Metro Association of Realtors, YCRE Analysis)   *We use reasonable efforts to include accurate and up-to-date information. The real estate market changes often. We make no guarantees of future real estate performance and assume no liability for any errors of omission in the content.          

What to do in Denver in February 2024

  Check out these February events!       Throughout February: Black History Month “Each February, Black History Month honors the achievements and contributions of African Americans to the country. Here’s how you can celebrate throughout the Denver metro area with lectures, dramatic performances, music and more, both before and after Black History Month!” How to Celebrate!           February 9th-11th: Monster Jam “Experience full-throttle family fun at Monster Jam, where the world’s best drivers and their 12,000-pound monster trucks tear up the dirt in wide-open competitions of speed and skill. You will be on the edge of your seat watching your favorites like the legendary Grave Digger, mighty Megalodon® and more show off crazy skills, massive stunts and all-out racing. Monster Jam. As Big As It Gets!” Tickets & More Info!           February 11th: Super Bowl LVIII “How to watch the 2024 Super Bowl – Date: Sunday, Feb. 11. Time: 6:30 p.m. Location: Allegiant Stadium (Las Vegas). TV: CBS, Nickelodeon Stream: Available via Paramount+ on all platforms, or sign in with your TV provider on or CBS Sports apps. Note: This marks the first time in NFL history that the Super Bowl will be broadcast in two different formats, with CBS carrying the traditional broadcast of the game and Nickelodeon airing an exclusive kids- and family-friendly telecast. The CBS broadcast will be available to stream via Paramount+.”           February 13th-25th: Message in a Bottle “Message In A Bottle is a spectacular new dance-theatre show from five-time Olivier Award nominee, Kate Prince, inspired by and set to the iconic hits of 17-time Grammy Award-winning artist Sting, including “Every Breath You Take,” “Roxanne,” “Walking On The Moon” and more.” Tickets & More Info!             February 16th-18th: Colorado Golf Expo “The Colorado Golf Expo, held annually in February at the Colorado Convention Center, is the Rocky Mountain region’s hottest event for the golf industry. Enjoy free lessons, skills challenges, connect with the many amazing golf courses in our community, and see the great deals at Lenny’s Golf Demo Area. There is no better way to get ready for the golf season.” Tickets & More Info!           February 24th: Cupid’s Undie Run “Every February, thousands of undie runners in cities across the U.S. come together, whether it be in-person or virtually, to support those affected by NF, a group of genetic conditions that cause tumors to grow on nerves throughout the body. Cupid’s Undie Run kicks off with drinking and dancing, then we jog it out with a mile(ish) run and end it all with an epic dance party!” Registration & More Info!           February 24th-25th: George Lopez “George Lopez: Alllriiiighhttt tour live at the Paramount for two nights!” Get Tickets!               February 24th– March 3rd: Colorado Garden & Home Show “The 2024 Colorado Garden & Home Show takes place February 24 – Mar. 3, 2024, at the Colorado Convention Center. Discover the Rocky Mountain region’s largest and most prestigious garden and home show – a nine-day spectacular event at the Colorado Convention Center– where you can find inspiration from the latest ideas and trends in landscaping, gardening, and home improvement.” Tickets & More Info!           Have a fantastic February!      

What to do in Denver in January 2024

Check out these January events!       National Western Stock Show & Rodeo – Jan. 6–21, 2024 Held every January at the National Western Complex, it’s the nation’s premier livestock, rodeo and horse show, serving agricultural producers and consumers throughout the world. Enjoy rodeos featuring top-notch bull riders, horse shows, livestock competitions and auctions. And don’t miss acres of shopping at Colorado’s largest Western trade show. Get tickets here…         Harlem Globetrotters – Jan. 9, 2024 See the 2024 tour featuring these amazing athletes. See them at Ball Arena. Get tickets here…           Litton Conducts feat. the NYC Ballet – Jan. 12–14, 2024) Andrew Litton once served as music director of the Colorado Symphony and since then has led the illustrious New York City Ballet. Learn more and get tickets here…           42nd Annual Colorado Indian Market & Southwest Art Fest – Jan. 12–14, 2024 This cultural celebration of visual and performing arts will take place at the Colorado Convention Center. The longstanding tradition features the works of 180 fine artists and craftsmen representing Native American arts and Southwest heritage, alongside colorful dances and entertainment. Learn more and get tickets here…           Martin Luther King Marade – March and Parade – Jan. 15, 2024 Civil rights leader Martin Luther King Jr.’s legacy is commemorated in The Mile High City every January with what has grown to be one of the largest MLK Jr. Day celebrations in the U.S. — even larger than that of Washington, D.C.! Learn more about the day’s activities here…             Drake with J. Cole  – Jan. 18–19, 2024 See the legendary rapper, Drake, and singer perform along with J. Cole at Ball Arena. Get tickets here…               Jesus Christ Superstar  – Jan. 23-28, 2024 Originally staged by London’s Regent’s Park Open Air Theatre and helmed by the acclaimed director Timothy Sheader (“Crazy for You,” “Into the Woods”) and cutting-edge choreographer Drew McOnie (“King Kong,” “Strictly Ballroom”), this production won the 2017 Olivier Award for Best Musical Revival garnering unprecedented reviews and accolades. Appealing to both theater audiences and concert music fans, this production pays tribute to the historic 1971 Billboard Album of the Year while creating a modern, theatrical world that is uniquely fresh and inspiring. Learn more and get tickets here…           Light Up the New Year – Thru Jan. 28, 2024 Continue your holiday season celebrations as the gardens will transform to feature an entirely new exhibit to ring in the new year! Join your friends and family and immerse yourself in the colorful nautilus forest, color cubes, mesmerizing sphere and more. Learn more and get tickets here…           Have an amazing January!      

Denver Real Estate News – January 2024

Looking Back at 2023 & What to Expect in 2024   2023 was marked by high mortgage interest rates that presented a significant hurdle for both buyers and sellers. These rates not only priced buyers out of the market but also placed a strain on housing inventory as sellers held on tight to their previously locked rates. Dubbed the “golden handcuffs” or the “mortgage lock,” this phenomenon kept potential home sellers stuck in place and their properties off the market. Despite the impact of high interest rates, the market still didn’t crash and only proved to be a roller coaster ride with prices remaining steady despite declining home sales.    What 2024 will bring to the Denver real estate market seems to hang in the balance of mortgage interest rates. On a national level, experts predict a slight increase in inventory with prices remaining stable. Thankfully the Denver real estate market often outperforms the rest of the country, due to its highly desirable locale, among other reasons. Although we can’t predict the future, we can anticipate at least these mild improvements based on local economic factors, such as migration, job growth, and lower inflation.    We are hopeful these factors will create a more favorable mortgage interest rate environment and have a positive effect for both buyers and sellers. We are already experiencing signs that there are better days ahead, such as declining interest rates, “on-the-fence” buyers returning to the market, and increased inventory in existing home sales.    Overall, Denver’s market has endured many challenges and demonstrated great resilience. If rates continue to trend downward, we can anticipate rate-adverse buyers and sellers to come off the fence. This pent-up demand will likely increase home prices, although at a much slower and more stable rate than in years past. Hopefully, these anticipated gradual changes will bring more normalized growth and balance to the market, a welcome change from the chaos of the pandemic years.        Info for Sellers Better Days Around the Corner   Lower rates will bring the competition and spring is still looking poised to be a hot one! If you have been on the fence, now is a great time to develop a game plan and get the wheels in motion for your home sale. We anticipate buyer activity to begin earlier this year due to favorable conditions such as declining interest rates, more buyers in the market, and mild weather. By striking right as the iron gets hot, you may be able to get top dollar simply by being ready – don’t wing something as complex as a home sale.    Info for Buyers Avoid the Rush With the expectation that the Federal Reserve will cut rates 3 times in 2024, buyers can anticipate better affordability in a mortgage. However, rate cuts will bring more buyers to the market and competition could lead to bidding wars and other challenges of a hot market. Our outlook for buyers remains the same as it has been for the last few months. Now is the time to take advantage of stale listings and a greater probability of favorable price, concession, and inspection negotiations. If you can afford the down payment and mortgage, there’s no need to wait for rate drops that will bring an influx of buyers. Make your 2024 move today!  (Info Source: D.M.A.R. (The Denver Metro Association of Realtors, YCRE Analysis)   *We use reasonable efforts to include accurate and up-to-date information. The real estate market changes often. We make no guarantees of future real estate performance and assume no liability for any errors of omission in the content.          

What to do in Denver in December 2023

December events and fun!       Now – December 24th: Camp Christmas “Make merry and immerse yourself in a 15,000-square-foot, 360-degree kaleidoscope of yuletide cheer at this year’s Camp Christmas! It’s fun, it’s fleeting and just the right amount of camp; it’s everything you love about the holidays wrapped into one sparkling experience. Created by Camp Director Lonnie Hanzon and his band of Denver-based magic makers, Camp Christmas is a dazzling dreamscape made just for you, an invitation to come in from the cold and wrap yourself up in the holiday rituals we all know and love. At Camp Christmas, you’ll leave your worries behind, discover your holiday superpower, visit Santa, and sample craft cocktails from the Base Camp and Fairy Bars. You’ll wander through a surreal mashup of nostalgic scenes, scratch your head at playful pun trees, and, most importantly, reconnect with the joy of the season. Welcome back Colorado’s campiest, quirkiest holiday tradition!” Tickets & More Info!         Now – December 31st: Luminova Holidays “Coloradans of all ages will be dazzled by millions of lights and entertainment when Luminova Holidays returns to transform Elitch Gardens into an even bigger, better, and brighter winter wonderland with more rides, more lights, and more holiday cheer! Stroll through the Park with over 200,000 square feet of larger-than-life light displays, a 65-ft. tree, twinkling snowmen who never melt, 300-ft. candy cane tunnel, photo ops galore, and more! See the lights from high above on the Ferris Wheel while sipping hot cocoa, listen to the holiday cheer of strolling carolers, and enjoy some of your favorite Elitch Gardens rides. Create memories that last well beyond the holidays at Luminova! *Days vary. Please check the event’s website.” Tickets & More Info!         Now – January 1st: Trail of Lights “Trail of Lights at Chatfield Farms takes you along a winding path glistening with lights that illuminate the Colorado countryside. Tucked into the foothills under the dark sky, the glow of lights can be seen for miles. Just under a mile of walking trail, the illumination of cottonwoods, boxelders and pine trees line the pathway through the Green Farm, Crossroads, Deer Creek Discovery Children’s Play Area and 1880s Hildebrand Ranch homestead. There is the option of an alternative path for those who want to take a shorter stroll. In line with our core value of sustainability, all lights used in the event are LED. Fun features this year: Lit props in the amphitheater dance to music, Synchronized music in the children’s play area, Enjoy singing Christmas trees, Stroll through multiple light tunnels, Illuminated antique and model tractors on display, Hot beverages, nuts and kettle corn are available for purchase at the start of the trail, as well as fudge and caramels available halfway through the trail in our warming hut. Purchase with cash, debit or credit card. Visit our Holiday Market to purchase your holiday gifts.” Tickets & More Info!         Now – January 7th: Zoo Lights “For 33 years, Zoo Lights has been the heart of your holidays. Now, with 80 acres boasting over two million lights, we’re still the one making spirits bright. We’re still your fave for family fun. We’re still the place where tradition stands tall, where romance runs wild—and where our sparkling features spark your brilliant smiles! This year, there’s more magic than ever—including new animated light sculptures, returning favorites, nightly ice-carving exhibitions and festive seasonal treats. And of course, it’s all happening at Denver Zoo! So there’s a good chance you’ll get to encounter an elephant, enjoy a tall boy with a giraffe or say hello to a hippo. Experience Denver’s Wildest Winter Wonderland.” Get Tickets!         Now – February 11th: Downtown Denver Rink “Downtown’s Destination for Fun This Winter. The Downtown Denver Partnership proudly invites you and your family to join us at the Downtown Denver Rink presented by Southwest Airlines – Downtown’s destination for fun this winter.” More Info!           December 17th: Ugly Sweater 5K “All participants will receive the following with their entry fee: A race logo shirt, A finishers medal, A well-stocked finish line assortment of goodies, A party-like atmosphere on course and at the finish line expo, Professional chip timing, and Free photo downloads after the event.” Registration & More Info!           December 30th-31st: New Year’s Eve Weekend Events “Celebrate the new year with your family by checking out fireworks, blockbuster museum exhibitions such as Amoako Boafo: Soul of Black Folks, stunning lights displays like Zoo Lights and art shows all over town. Or party the night (and the year!) away at one of many New Year’s Eve parties taking place all over The Mile High City! Take advantage of great Denver hotel packages. The Regional Transportation Network (RTD) will offer free bus and rail service, including Access-a-Ride, FlexRide and SkyRide services, starting New Year’s Eve at 7 p.m. and running through 7 a.m. on New Year’s Day. Plan your trips and find route and schedule information on RTD’s website.” More Info!         December 31st: New Year’s Eve Fireworks  “The sky will once again sparkle over downtown at the close of 2023 with the New Year’s Eve Fireworks. The two 8-minute spectacular fireworks shows will occur at 9 p.m. and midnight. The identical fireworks shows can be seen near the Sheraton Hotel and near the middle of downtown near Curtis St. For the best NYE experience in downtown, book a restaurant reservation before the show and then stay the night at a hotel! The fireworks are presented by the Downtown Denver Partnership and co-sponsored by VISIT DENVER and the Downtown Denver Business Improvement District.”            Have an amazing December!      

Denver Real Estate News – December 2023

LOCAL MARKET UPDATE Getting Historical Instead of Hysterical   Despite a challenging market due to higher interest rates, homes continue to change hands. Typically, the Denver Metro experiences our lowest inventory within the last two months of the year. This year, however, end-of-year increased inventory is a welcome shift as we enter the holiday season.     Active listings are up just over 2.5% year-over-year. While this increased inventory is a relief to buyers, we still aren’t close to a balanced market. October closed out the month with active listings sitting at 7,482. For context, the average active listings for October are 14,755. We consider a balanced market one with 4-6 months of inventory. We are currently at 2.5 months of inventory.   While the interest rates have caused a notable shift in market activity, it’s certainly nothing worth getting hysterical about. The most recent year-to-date numbers are most comparable to those of 2019. Sales volume is over $24 million, median days in the MLS is at 11 (just one day shy of the median in 2019), and the close-price-to-list-price ratios are both over 99%, while pandemic years were over 103%. It’s time to stop comparing current data to that from the pandemic years. Those years were a perfect storm of low interest rates, and unprecedented demand while homeowners fell out of love with their houses working from home, paired with the ability to work remotely.   Regardless of the prevailing market challenges, there exists a valuable opportunity for both buyers and sellers to leverage the current real estate landscape to their advantage by implementing a strategic game plan. (Info Source: D.M.A.R. (The Denver Metro Association of Realtors, YCRE Analysis)     INFO FOR SELLERS Take Advantage of Serious Buyers Although the interest rates have shrunk the buyer pool, one silver lining is that those looking for a house are serious. Most of these buyers are motivated by life changes creating the need to move compared to the many previous opportunistic buyers motivated by a desire to take advantage of historically low rates.   As before, it’s imperative to price your home correctly. Buyers have more options to choose from and are no longer willing to overpay. Also, be prepared to negotiate. In October, 57.9% of closed transactions included an average seller concession of $9,390 – don’t miss out on a serious potential buyer by clinging to the market conditions of the pandemic years. They are long gone. (Info Source: D.M.A.R. (The Denver Metro Association of Realtors, YCRE Analysis)   INFO FOR BUYERS It’s the Most Wonderful Time of the Year…to Buy! Regardless of interest rate, winter remains the most advantageous time for buyers to find a home. Typically, sellers who have their home listed at this time of the year are selling now because they must. Sellers with flexibility tend to wait until spring to list when the buyer pool is at its peak. The holiday season usually brings less competition as many buyers take a pause as life gets busy with events, travel plans, and less-than-ideal moving weather. Combine these factors with more inventory than usual and sellers who are willing to negotiate concessions & inspection items, and you have a recipe for a successful real estate transaction! Take advantage of these ideal terms while other buyers sit on the fence! Although the interest rates can be daunting, the key is to get into the homeownership game and experience appreciation as it moves upward over time. (Info Source: D.M.A.R. (The Denver Metro Association of Realtors, YCRE Analysis)   *We use reasonable efforts to include accurate and up-to-date information. The real estate market changes often. We make no guarantees of future real estate performance and assume no liability for any errors of omission in the content.      

What to do in Denver in November 2023

November events and fun!       November 11th-19th: Denver Fashion Week Fall 2023 “Denver Fashion Week (DFW) is Colorado’s largest fashion showcase featuring emerging designers, local boutiques, national brands, hairstylists, makeup artists, and models. DFW prides itself on being all-inclusive, uplifting, and supportive of emerging talent. We do not cast talent based on race, color, religion, sexual orientation, height, body type, or age. We work very hard to increase economic development for the region’s fashion and design communities, increase awareness for runway participants and sponsors, and produce a world-class fashion experience unlike any in Denver.” Tickets & More Info!           November 17th – December 22nd: Denver Christkindl Market “This annual event brings authentic German and European holiday traditions to Denver!  The Market opens every year on the Friday before Thanksgiving and lasts through the 23rd of December. The event offers an authentic German holiday experience, including opportunities to meet St. Nikolaus, Krampus and the Christkind herself.  Guests can savor the season as they enjoy authentic Glühwein, Bavarian-style Biers, European coffee, or hot chocolate while wandering through the Market. Each charming wooden hut offers finely crafted artisan gifts and holiday treats sold by local Coloradan and international merchants.” More Info!           November 17th – December 30th: Christmas in Color “Drive through millions of lights perfectly synchronized to holiday music you’ll hear right through your radio. Drive by giant candy canes, snowmen, arched pathways and more. Take your time enjoying this lighting extravaganza – we won’t judge you if you join the kids with your face pressed against the window!” Tickets & More Info!           November 17th – December 31st: Mile High Holidays “Feel the warmth of family-friendly performing arts classics, find the perfect gifts and marvel at elaborate lights displays. No other city creates holiday miracles quite like Denver. Mile High Holidays has something for everyone. You’re invited to see the sights and stay the night!” More Info!           November 17th– January 7th: Blossoms of Light “Celebrate the holiday season at Blossoms of Light®, a dazzling and ever-changing display of light and color. Join us for one of the Gardens’ signature events! For three decades this annual holiday light extravaganza has transformed our York Street location into a twinkling wonderland. In line with our core value of sustainability, all lights used are LED. Holiday treats and warm drinks will be available for purchase at Offshoots Café and the Hive Garden Bistro. Ticket purchase and member FAQ: Tickets must be purchased in advance for a specific time. No onsite ticket sales. The last entry is 9 p.m. The event ends at 9:45 p.m. Closed Nov. 23 and Dec. 25.” Tickets & More Info!           November 23rd: Mile High United Way Turkey Trot “As we celebrate our rich 135-year history, we also celebrate YOU, the runners, volunteers, and partners who have made the Mile High United Way Turkey Trot a part of your Thanksgiving celebration. Thank you for supporting families in our community!” Registration & More Info!           November 24th: Grand Illumination  “Grand Illumination will take place at Denver’s landmark train station from 4 p.m. – 8 p.m. on Friday, Nov. 24th. The evening will feature an expanded lineup of family-friendly entertainment, all culminating in the lighting of Denver Union Station’s 40-foot-tall outdoor Christmas tree featuring more than 7,000 holiday lights.” More Info!           November 25th– December 24th: Colorado Ballet: The Nutcracker “Fan-favorite ballet, The Nutcracker, returns to Denver, featuring the company’s custom-made sets and costumes which debuted in 2021. The Nutcracker is a festive, family-friendly production that has become synonymous with the spirit of the holiday season and sees sold-out performances year after year. In alignment with Colorado Ballet’s mission to increase accessibility and grow a diverse audience base, a public sensory-friendly performance of The Nutcracker will be presented for the third year in a row.” Tickets & More Info!           Have an amazing November!      

Denver Real Estate News – November 2023

LOCAL MARKET UPDATE Navigating Turbulent Mortgage Rates in Denver   Denver’s real estate landscape is witnessing significant shifts amidst a challenging interest rate environment. A 20% decrease in sales in September from the month prior, coupled with a substantial rise in mortgage rates to an average of 8.04% as of 10/25, has marked a period of slowdown and uncertainty. Despite these hurdles, September showed surprising resilience with an 11.2% increase in Active Listings from August, though housing inventory levels remain well below the 50-year average. Home prices continue to showcase their strength, with single-family homes holding a median price of $640,000 and condos & townhomes at $420,000. However, sellers are experiencing a longer time on the market – now averaging 30 days. This dynamic is creating a nuanced market with sellers still in a favorable position. Despite this, the rising mortgage rates are having a noticeable impact, with new mortgage application activity plunging to a 28-year low, as reported by the Mortgage Bankers Association. Homebuying affordability is being significantly challenged, with 30-year-fixed-rate mortgages passing the 8% mark, making borrowing increasingly difficult for potential buyers.   (Info Source: D.M.A.R. (The Denver Metro Association of Realtors, Axios, Bankrate, YCRE Analysis)     INFO FOR SELLERS Capitalizing in a Competitive Market   Denver’s real estate market churns on, albeit with a recent slowdown in sales due to soaring mortgage rates. For sellers, this means adjusting strategies to stay competitive. With property prices remaining robust, at $692K on average in September, it’s crucial to price your home accurately to attract serious buyers. Homes are spending an average of 30 days on the market, a slight increase from the previous month, indicating a need for patience and strategic pricing. Given the current economic climate, buyers are seeking value and are more inclined to request concessions, particularly in terms of mortgage rate buydowns. As a seller, being open to these negotiations can be the key to a successful sale. Despite the challenges, Denver’s market is resilient, and with the right approach, sellers can navigate these turbulent times effectively to get the best possible sales price. (Info Source: D.M.A.R. (The Denver Metro Association of Realtors, YCRE Analysis)     INFO FOR BUYERS Buying in a High-Rate Environment   The Denver real estate market presents unique challenges for buyers, with mortgage rates reaching an 8.04% average for 30-year fixed loans, causing a significant dip in new mortgage activity. As a buyer, it is crucial to assess your financial standing and explore various mortgage options to secure the best possible rate. While the market remains competitive, the increase in listings provides more choices, though prices remain high with an average home price of $692K. Buyers are finding success through negotiating concessions, particularly in terms of interest rate buydowns, rather than pushing for lower listing prices. In this seller-dominated market, it’s essential for buyers to stay informed, be patient, and negotiate strategically. With the right approach, navigating the high rates and finding your next home may still be possible despite the tough market conditions. (Info Source: D.M.A.R. (The Denver Metro Association of Realtors, Axios, Bankrate, YCRE Analysis)         *We use reasonable efforts to include accurate and up-to-date information. The real estate market changes often. We make no guarantees of future real estate performance and assume no liability for any errors of omission in the content.      

What to do in Denver in October 2023

October events and fun!       Present – October 29th: Corn Maze at Chatfield Farms “Get lost in our 7-acre Corn Maze at Chatfield Farms. It’s time to “seas” the day as you dive in to explore our seven-acre corn maze. The maze can be viewed from a 15-foot-tall bridge. Visitors under the age of 10 can explore the corn mini-maze.” Tickets & More Info!             Present – October 31st: Magic of the Jack O’Lanterns “Presented and produced by The Thirteenth Floor Entertainment Group, Magic of the Jack O’Lanterns will delight adults and children alike under a magnificent glow of 7,000 hand-carved pumpkins and larger-than-life pumpkin displays. A magical carnival, a nautical sea-scape, a pirate ship, dinosaurs, and dragons will illuminate the grounds of Hudson Gardens in a soft, inviting glow where you’ll find magic around every corner. Magic of the Jack O’Lanterns is property of Thirteenth Floor Entertainment Group—the world’s largest Halloween-themed entertainment company.” Tickets & More Info!           October 11th – 30th: Spooky Light Show “Event Description – Drive through millions of lights perfectly synchronized to popular Halloween music that you’ll hear right through your radio. Drive by giant pumpkins, through a spooky graveyard, arched pathways and more. Take your time enjoying this lighting extravaganza – we won’t judge you if you join the kids with your face pressed against the window!” Tickets & More Info!           October 14th: Beer Tasting & Chili Cook-Off  “Presented by the Golden Chamber of Commerce, in partnership with Coors Distributing Company, the Golden Beer Tasting & Chili Cook-Off is a celebration of all things beer, chili and fun! Ticketed guests enjoy an afternoon of fun with unlimited beer and chili samples (as long as supplies last), entertainment, snack vendors and the Beer & Chili Awards Ceremony! NOTE: The event is rain or shine!  Come prepared for unpredictable Colorado fall weather and help support the Golden Chamber and St. Jude Children’s Research Hospital.” Tickets & More Info!           October 14th-15th: Pumpkin Harvest Festival “Immerse yourself in the sights, sounds, and smells of Fall at Denver’s original fall festival. Pick out the perfect pumpkin or unique local treasure in the marketplace with more than 40 vendors onsite, catch some live music and performances on the Autumn Harvest Community Stage, and dine on seasonal favorites like apple cider donuts for an unforgettable day at Four Mile Historic Park. Build-your-own scarecrow to take home to protect your garden or explore your inner artisan with fall themed crafts and activities. Compliment your natural beauty with face painting and decorations along the Festival trail. New this year, PHF will feature a Western-themed scavenger hunt. Guests will pan for gold, pack a wagon, play prairie games, and more!” Tickets & More Info!         October 14th – 22nd: Glow Before Dark “Visit during the day and enjoy some of the Glow at the Gardens features including pumpkin sculptures, skeleton scenes and gravestones.” Tickets & More Info!           October 19th: Colorado Avalanche vs Chicago Blackhawks “The Avs take on the Blackhawks in the home opener!” Get Tickets!             October 24th: Denver Nuggets vs Los Angeles Lakers Come cheer on our reigning NBA Champs!  Get Tickets!               October 28th: Boo ‘n Brew on Colfax Avenue  “It’s October and that means Boo n’ Brew is just around the corner! On Saturday, Oct. 28, 2023, this annual event will take over Colfax Avenue between Josephine and Colorado Blvd.” More Info!             October 28th: 8th Annual Tennyson Fall Fest “TRICK OR TREAT STREET, PET PARADE, SHOPPING, FOOD TRUCKS, and LIVE MUSIC!” More Info!           October 28th: Coloween “Get ready for an enchanting night at the 14th Annual Coloween, where 4,000 costumed party-goers gather for a thrilling experience. Explore a mesmerizing 50,000 sq/ft wonderland with immersive installations and elaborate decor, while interactive performers and club-style DJs keep the energy high on the dance floors. Don’t miss the chance to compete in the $1500 Costume Contest and enjoy quick bar service with RFID wristbands connected to your credit card. Coloween promises an unforgettable Halloween celebration!” Get Tickets!             Have an amazing October!