Denver Real Estate News – July 2024

Mid-Year Market Update Denver Edges Toward Balance   As we hit the halfway point in the year, Denver’s housing market is showing signs of stabilizing. More homes are becoming available, but many buyers are still hesitating due to high prices and interest rates. It’s clear that the cost of housing, especially at median price points, remains a significant hurdle.   Inventory levels are a strong signal that we’re approaching a balanced market for the first time in over a decade. One useful metric to understand this balance is Months of Inventory (MOI). MOI indicates how long it would take to sell all the current listings if no new properties were added. For example, if one home sells per month in a neighborhood with six homes on the market, the MOI is six months. A balanced market in Denver typically has 4-6 months of inventory. Currently, the MOI stands at 2.78 months.   Buyers are fatigued from the fast-paced market of recent years and are now taking their time. While some homes still attract multiple offers quickly, many others are sitting for extended periods before finding a buyer. Buyers are also more eager to negotiate, even for new listings. Sellers motivated to move will need to engage in these negotiations, while those waiting for the perfect buyer might face longer waits. Active listings have risen by 11.52% month-over-month to 10,214, a significant 68.27% increase year-over-year. This surge indicates that inventory is climbing.   Despite overall market unpredictability, real estate remains hyper-local. Activity varies significantly based on price, condition, and neighborhood. It’s crucial for consumers to work with knowledgeable real estate agents who can analyze local data to set realistic prices and meet homeowner goals.   Info For Sellers   Contract terminations are on the rise, so sellers need to be cooperative and solution-oriented during inspections to keep sales on track. Today’s buyers prefer homes with minimal deferred maintenance and modern updates. Ensuring that the HVAC, roof, and water heater are well-maintained and within their lifespan can help sell homes faster and for better prices. As competition among sellers intensifies, expect more deals to include seller concessions. In May, 56.3% of closed transactions involved a seller concession, with average concessions at $9,250 and a median of $7,000. This is up from May last year, where only 47.8% of transactions included concessions, averaging $7,723 with a median of $5,000.   Info For Buyers   With properties spending more days on the MLS, now is a great time for buyers who previously couldn’t compete in the frenzied market to start shopping again. While buyers are cautious about potentially purchasing at a market peak, sellers often still expect multiple offers on overpriced properties.   As Denver’s housing market moves towards equilibrium, both buyers and sellers must adjust their strategies. Engaging with experienced real estate agents and staying informed about local market conditions will be key to navigating this evolving landscape.   *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 July 2024

  July Events Around Town! And a few August events as well!     July 4th Weekend:  “Denver is the place to be for the long holiday weekend. You’ll be treated to blockbuster museum exhibitions, delicious cuisine from farm-to-table restaurants on expanded patios and outdoor activities galore. On July 3, a reimagined Independence Eve celebration with live music, great food and a drone show will take place in Civic Center Park. Also, Elitch Gardens Theme & Water Park will be featuring fireworks at 9 p.m. (as the park closes for the day) on July 5, 2024.” More Info!           July 15th: Film on the Rocks – Deadpool  “Denver Film Presents – Film On The Rocks: Deadpool. Featuring a pre-show performance by Doc Sadler Band.” Get Tickets!             July 18th: 5280 Top of the Town “Our annual, all-inclusive, bash celebrating the best stuff in and around Denver is back at Cherry Creek North on July 18! Treat yourself to an enchanting evening filled with tasty menus from Top of the Town winning restaurants, refreshing libations, live entertainment, and more. Get your tickets at!” Tickets & More Info!           July 20th: Tennyson Street Fair “The Tennyson Street Fair will return this summer, July 20, for a community-wide celebration along Tennyson Street. Shop from over 100 local artisans, businesses and vendors at this farmers-market-style festival. Join us for family-friendly activities and local live music for the whole family to enjoy. With over 15 restaurants featured, there are a variety of options for everyone to indulge in. Located between W. 41st Ave to W. 43rd Ave, the Tennyson Street Fair is free for all ages to attend and enjoy this summer.” More Info!           July 24th– August 25th: Wicked  “WICKED, the Broadway sensation, looks at what happened in the Land of Oz…but from a different angle. Long before Dorothy arrives, there is another young woman, born with emerald-green skin—smart, fiery, misunderstood, and possessing an extraordinary talent. When she meets a bubbly blonde who is exceptionally popular, their initial rivalry turns into the unlikeliest of friendships…until the world decides to call one “good,” and the other one “wicked.” From the first electrifying note to the final breathtaking moment, WICKED—the untold true story of the Witches of Oz—transfixes audiences with its wildly inventive story that USA Today cheers as “a complete triumph! An original musical that will make you laugh, cry, and think.” Tickets & More Info!           July 27th-28th: Cheesman Park Art Fest “Celebrating 11 years! This charming, award-winning art festival features an outstanding lineup of 150 juried fine artists and craftsmen from across the nation. Held in one of Denver’s prized historic parks, The Cheesman Park Art Fest offers a little something for everyone – from great shopping and artists’ demonstrations to live music and Denver’s favorite trucks! It’s the perfect way to spend a summer day in the Mile High City!” More Info!           July 27th-28th: Colorado Dragon Boat Festival “Come join us for the LARGEST Dragon Boat Festival in the country! We are a free admissions festival where you can come celebrate the diverse AANHPI (Asian American Native Hawaiian Pacific Islander) cultures through our delicious Taste of Asia Food Courts, Asian Marketplace, Performances on three separate stages, a Dragonland area for kids, and of course, Dragon Boat Racing throughout the days.” More Info!           Present – August 4th: City Park Jazz “City Park Jazz is a “celebration of community” that began in 1986 featuring only local musicians. Sunday evenings throughout the summer sees anywhere from 8,000 to 12,000 neighbors from City Park neighborhoods — and all over Colorado —enjoying the amazing talent that calls the Centennial State home, all free of charge. A handful of carefully selected vendors and food trucks round out this family-friendly festival atmosphere!” More Info!           August 9th-18th: Western Welcome Week “The planning begins for a celebration filled with fun and memories with many of your old favorites and some new. Join us with other local nonprofits, civic groups, fraternal orders, and local organizations, as we bring over thirty events to the 10-day celebration. There will be concerts, gold panning, a fishing derby, pancake breakfast, 5K, stick horse stampede, kids games, car show, BBQs, art shows, parades, craft fair, entertainment, duck race, and more! Something for everyone! Watch our schedule grow as events are added.” More Info!     Have an incredible July and August!    

Denver Real Estate News – June 2024

  Unlocking Opportunities Navigating Denver’s Summer Real Estate Landscape   With summer swiftly approaching, patience remains key in maneuvering the Denver metro real estate market. Denver’s real estate market is normalizing but continues to face persistent affordability challenges. This presents opportunities for serious buyers and sellers to negotiate favorable deals in the second half of the year. Following the long-standing trend, it’s crucial for sellers to thoroughly prepare their home for the market if they want to sell it quickly and for the highest possible price. Buyers should take their time selecting the right home, a process that should be easier now with more inventory available than in recent years.    As everyone waits for mortgage rates to adjust downward, we continue to manage the market at seven percent interest rates. Last month, new listings increased by 16.51 percent month-over-month and 33.88 percent year-over-year to 6,966. Pending sales saw a slight uptick of 1.94 percent month-over-month with 4,265 properties, while closed sales rose by 5.72 percent to 4,198. Median close prices fell marginally month-over-month by 0.41 percent.    The most notable gain in May was in active listings at month-end, which increased by 31.03 percent month-over-month (surpassing the previous record of 26.8 percent in 2019), 75.19 percent year-over-year, and an astonishing 150.79 percent compared to this time in 2022. For perspective, average active listings for May are 14,895 (1985-2023). The record-high for May was set in 2006 with 30,457 listings, while the record-low was set in 2021 with 2,075 listings. The historical average increase in active listings from April to May is 7.48 percent.    Many experts predicted inventory to remain steady throughout 2024, provided there wasn’t a significant drop in mortgage rates. They believed homeowners would opt to keep their low mortgage payments due to the sub-four percent interest rates available during the pandemic years, rather than selling their homes. Additionally, it was predicted that sellers entering the market would be driven by significant life changes, falling into the “need to move” category. However, recent trends have shown a departure from these predictions, as sellers are actively entering the market for various reasons. With Denver homeowners holding an average of $250,000 in tappable equity, many are seizing opportunities such as the 1031 Exchange. Overall, these savvy consumers recognize real estate as a stable investment.    Info For Sellers   As active inventory continues to grow, it remains imperative for sellers to take the time to prepare their homes for the market. Those who take their real estate agent’s advice have found themselves moving to the closing table more quickly than their neighbors who have not put the time and energy into getting their homes ready to list.   Info For Buyers   Opportunities are available in the Denver market for determined buyers. The months of inventory have expanded to 2.18 market-wide, marking a 16.58 percent increase month-over-month. This growth provides buyers with ample choices, offering a wider selection of properties to view before making an offer. Moreover, consumers have grown accustomed to quick real estate transactions in recent years. As a result, sellers are increasingly open to considering price adjustments or negotiating with buyers early on to expedite the sale process.   Are you prepared to confidently maneuver through the ever-changing Denver real estate market? Whether you’re buying, selling, or both, it’s time to team up with an experienced real estate agent! Don’t let market uncertainties deter you—seize the opportunity now and engage the knowledge of a reliable real estate professional to assist you at every stage of your home selling or buying process!   *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 June 2024

June & Early July Events Around Town!       Present – August 4th: City Park Jazz “City Park Jazz is a “celebration of community” that began in 1986 featuring only local musicians. Sunday evenings throughout the summer sees anywhere from 8,000 to 12,000 neighbors from City Park neighborhoods — and all over Colorado —enjoying the amazing talent that calls the Centennial State home, all free of charge. A handful of carefully selected vendors and food trucks round out this family-friendly festival atmosphere!” More Info!           June 15th – 16th: Juneteenth Parade & Music Festival “The Juneteenth Parade kicks off the Juneteenth Music Celebration on the street in Five Points on Saturday June 15, 2024. Juneteenth Music Festival is the nation’s signature Juneteenth event. The Historic Five Points Neighborhood of Denver, Colorado hosts the celebration which has expanded immensely, from a very little known piece of American history to now a nationally celebrated holiday. Juneteenth in Denver Colorado is a week long celebration including state-wide activations, concerts and the popular Parade + 2-day Street Festival based in the Historic Five Points Neighborhood of Denver, Colorado.” More Info!           June 19th – July 3rd: Disney’s Frozen “Heralded by The New Yorker as “thrilling” and “genuinely moving,” Frozen features the songs you know and love from the original Oscar®-winning film, plus an expanded score with a dozen new numbers by the film’s songwriters, Oscar winner Kristen Anderson-Lopez and EGOT winner Robert Lopez. Oscar winner Jennifer Lee (book), Tony and Olivier Award winner Michael Grandage (director), and Tony winner Rob Ashford (choreographer) round out the creative team that has won a cumulative 16 Tony Awards. An unforgettable theatrical experience filled with sensational special effects, stunning sets and costumes, and powerhouse performances, Frozen is everything you want in a musical: It’s moving. It’s spectacular. And above all, it’s pure Broadway joy.” Get Tickets!           June 22nd-23rd: Denver PrideFest “The weekend kicks off with the Pride 5K on Saturday, June 22, 2024, followed by the two-day Denver PrideFest at Civic Center Park. The Fest includes over 250 exhibitors, 30 food & beverage vendors, and live performances all weekend long. Sunday begins at 9:30 am with colorful floats, marchers, music, and much more at the annual Coors Light PrideFest Parade. Over 100,000 cheering guests will line 14 blocks of Colfax Avenue from Cheesman Park to Civic Center, where the celebrations continue at day two of Denver PrideFest.” More Info!           July 4th Weekend:  “Denver is the place to be for the long holiday weekend. You’ll be treated to blockbuster museum exhibitions, delicious cuisine from farm-to-table restaurants on expanded patios and outdoor activities galore. On July 3, a reimagined Independence Eve celebration with live music, great food and a drone show will take place in Civic Center Park. Also, Elitch Gardens Theme & Water Park will be featuring fireworks at 9 p.m. (as the park closes for the day) on July 5, 2024.” More Info!           July 5th-7th: Cherry Creek Arts Festival “The Cherry Creek Arts Festival offers a perfect opportunity to find inspiration, connect with others through art, and expand your worldview. Our annual Cherry Creek Arts Festival fills the streets of Cherry Creek North with over 250 juried artists ready to share their talent with the world. Expect plenty of live music, kids’ activities, art, information about art education, food, and more.” More Info!           July 8th: Film on the Rocks – The Wizard of Oz “Denver Film Presents – Film On The Rocks: The Wizard of Oz. Including a pre-show event with National Geographic Live.” Get Tickets & More Info!               July 12th-14th: Colorado Black Arts Festival “Colorado Black Arts Festival proudly presents its 38th annual celebration of African American art and culture. A Colorado experience like no other takes place July 12 – 14, 2024 in historic Denver City Park West.” More Info!       Have an amazing June and July!    

Denver Real Estate News – May 2024

  More homes for sale and opportunities abound!   As we welcome rising temperatures, buyers in the Denver market continue to welcome rising inventory. Having options to choose from is a great reprieve from high interest rates paired with high home prices. Active listings increased over 19% month-over-month and over 51% year-over-year to 6,990 listings! While this is a significant increase, perspective is important – average active listings for April are 14,048 (1985-2023). Record-high April was 2006 with 29,045 listings and the record-low was set in 2021 with 2,594 listings. Still, the historical average increase in active listings from March to April is 10.32 percent, so an increase of 19.51 percent from this March to April is certainly a healthy increase.    New listings also saw a healthy uptick, rising by 21.22 percent month-over-month and 25.42 percent year-over-year, totaling 5,980 listings. Pending sales experienced a modest increase of 8.32 percent month-over-month and 5.53 percent year-over-year, with 4,468 properties pending. However, the most noteworthy metric, closed sales, saw a marginal uptick of 1.66 percent month-over-month but a 4.79 percent decline year-over-year. This suggests a slower absorption rate of inventory compared to previous periods.   As inventory expanded, buyers seized the opportunity, resulting in a 27.27 percent reduction in median days on market to a mere eight days. Median prices edged up by 1.27 percent to $602,550, while the average price reached a new record of $727,700!   It’s clear that opportunity abounds for both buyers and sellers alike, making the Denver Metro area stand as a leader in the national real estate landscape. According to a recent analysis from U.S. News & World Report, the Denver Metro area ranks as the hottest housing market in the country for a second year in a row, The report notes that the Denver Metro area “retains a mix of strengths including low unemployment, few mortgage delinquencies, low rental vacancy rates for investors and a positive ratio of building permits to job growth.”       Info for Sellers   Inventory is expected to continue climbing through May, emphasizing the importance of conservative pricing. Move-in ready homes priced correctly are selling notably faster and attracting multiple offers, while homes that are not turnkey are struggling to find buyers.  Buyers will likely continue to gravitate towards properties priced at fair market value, requiring minimal additional work. Now is not the time to overprice or test the market; rather, it’s about aligning prices with realistic expectations to facilitate successful transactions.       Info for Buyers   The surge in inventory comes as a much-needed respite for buyers contending with historically low supply levels. This uptick is a pleasant surprise, considering many sellers have been hesitant to list their homes, opting instead to hold onto their properties due to the allure of low two to five percent interest rates. Despite financial constraints, determined buyers have injected optimism into the Denver market by swiftly securing desirable properties. To counter the impact of high interest rates, temporary buydowns have emerged as the prevailing strategy.  Ready to navigate the dynamic Denver real estate market with confidence? Whether you’re a buyer or seller (or both), now’s the time to partner with a seasoned real estate agent! If the timing is right for your unique situation, don’t let market uncertainties hold you back—act today and enlist the expertise of a trusted real estate professional to guide you through every step of your home selling or home buying journey!       *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 May 2024

May Events around the city!       May 11th – 12th: Sloan’s Lake Spring Bazaar “Spring is in the air and Denver BAZAAR is excited to return to Sloan’s Lake on May 11 + 12 for Spring BAZAAR! This outdoor market will feature 80+ carefully curated vendors (including home goods, jewelry, sweet treats, clothing, and self-care products), a live DJ, festive springtime sips and local craft beer, food trucks and street food, and more! We’re popping up one block from Sloan’s Lake, taking over the streets between 17th Ave & W Conejos Pl! 1611 Raleigh St Denver, CO 80204 Admission? FREE entry, all ages! Upgrade your shop & sip experience with Bottomless Mimosas or a Drink Token Package!” More Info!           May 11th-19th: Denver Spring Fashion Week “Denver Fashion Week, one of America’s fastest-growing fashion platforms, will be back again for Spring 2024 on May 11-19. Collections from local, national, and international designers will range from streetwear, activewear, lifestyle, kids, and sustainability to high fashion. The nationally acclaimed show occurs twice a year in the fall and spring seasons. As Colorado’s most prominent fashion show, thousands of attendees show up each year to support Denver’s growing and diverse fashion community.” Tickets & More Info!           May 18th-19th: Denver Colfax Marathon “The Colfax Marathon weekend is the largest marathon weekend in the Rocky Mountains, with 20,000 runners in 2019.  Races include a marathon, half marathon, urban 10 miler, and a 5K.  In addition, the marathon relay has over 1,330 teams in Corporate, Government or Open divisions and is the second largest Marathon Relay in the US. As Denver’s largest running event, the Colfax Marathon includes seven races over two days and a two-day Health & Fitness Expo. Runner’s World has selected Colfax Marathon in its top 10 lists in multiple years! Each year, the Colfax Marathon is held the third Sunday in May, with the Expo and races making a fun three-day weekend.” Events & Info!           May 25th-26th: Denver Arts Festival “The summer arts festival season officially opens with the 25th Annual Denver Arts Festival, Memorial weekend May 25 & 26 at Conservatory Green in the Northfield neighborhoods of Central Park. Experience fine art and fine crafts from over 140 Colorado and national Artists. You can make a day of it with plenty of art to experience, food trucks, wine, beer and spirits plus free live music both days. There is the Kids Art Zone where kids of all ages can create their own painting to take home with them. And for the adults we have Odell beer, the Family Jones Spirits and wine.  While you’re enjoying your beverages, you can listen to our live music. Come see why this festival has been one of the top ranked shows in the country. We know you will find some amazing art to take home with you.” More Info!           June 1st: Denver Chalk Arts Festival “The popular street painting festival in the cultural center of the Golden Triangle features more than 150 artists using the streets as a unique canvas, and then using chalk to create fantastic and colorful paintings at the viewer’s feet. These street paintings range from original artwork to reproductions of classics. A longtime favorite of many locals and visitors to Denver, the Chalk Art Festival’s new home in the Golden Triangle Creative District is perfectly situated near museums, galleries, and other creative organizations, notably adjacent to anchors Denver Art, Clyfford Still and Kirkland Museums.” More Info!           June 8th: Five Points Jazz Festival “Five Points Jazz festival is a free, all-day event held annually in Denver’s historic Five Points neighborhood. Once known as the Harlem of the West, Five Points was home to several jazz clubs which played host to many of jazz music’s legends including Miles Davis, Thelonious Monk and many more!” More Info!                   June 10th: Film on the Rocks – The Matrix “Denver Film Presents Film On The Rocks: The Matrix Featuring a pre-show performance by DARKARTS.” Get Tickets!           Have a marvelous May!    

Denver Real Estate News – April 2024

  Savvy Buyers and Sellers Shine Amidst Distracting Headlines!   The real estate world has been abuzz with news surrounding the National Association of Realtors’ proposed settlement in the Sitzer-Burnett case. Despite media projections of doom and gloom for real estate professionals, the Denver market remains resilient. The spring market has exceeded expectations, with metrics such as pending and closed transactions, as well as sales prices, all showing month-over-month increases. Another positive indicator of a bustling market is the Days on Market metric, which saw its percentage cut in half month over month – indicating that buyers are placing homes under contract twice as fast in March as they did in February.         While the price increases both month-over-month and year-over-year represent a more normalized pattern compared to the chaotic double-digit increases seen during the Covid years, certain aspects of the current market, such as multiple offers, appraisal and inspection limitations or waivers, and homes going under contract within days of listing, evoke memories of those turbulent times.   The most active and thus competitive price segment for detached properties continues to be the $500,000 to $749,000 range, with 1,277 closed sales and 1,573 active listings. Similarly, the most active and thus competitive price segment for attached properties remains the $300,000 to $499,999 range, with 364 closed sales and 765 active listings.       Info For Sellers   The increase in closed prices coupled with the significant decrease in Days on Market demonstrates that buyers are eager, placing properties under contract twice as fast as they did in February. While the spring market continues to heat up, it’s worth noting a seasonal trend observed in normal (non-Covid) years. According to the Denver Metro Association of Realtors, “In Denver, peak price premiums were observed in the second half of May, with sales commanding a 2.9 percent premium over the rest of the year.” This suggests that homes closing in late May likely went under contract in late April, as the under-contract process typically lasts about 30 days. After June, prices historically tend to decline until December. Therefore, if you’ve been contemplating selling, you may maximize profits by acting sooner rather than later.     Info For Buyers   Sellers seem to be responding to the Federal Reserve’s announcement of three rate cuts this year by slowly increasing inventory. Buyers are pleased to see additional options entering the market. However, it’s essential to remember that as sellers release their properties, they become your competition.    In a bustling real estate market like Denver’s, staying competitive as a buyer requires a strategic approach. First, getting pre-approved for a mortgage is key—it shows sellers you’re serious and ready to make a move. Working closely with a knowledgeable real estate agent who knows the ins and outs of the local scene can be a game-changer. It’s also important to keep an open mind about your preferences and be willing to act fast when you find a property you love. Making strong offers off the bat can help you stand out from the crowd. And above all, staying positive and persistent, even in the face of competition, can ultimately lead you to your dream home.   *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 April 2024

  April Events around town!       April 8th-10th: Colorado Rockies vs. Arizona Diamondbacks “Come cheer on the Rockies!” Get Tickets!             April 11th-14th: Women + Film Festival “Women+Film Festival is a four-day live event screening over a dozen of outstanding features, shorts, and documentaries celebrating female filmmakers behind the camera and stories of women on the screen. Produced by Denver Film, our programming team promises a lineup of the best new films to inspire and transform paired with exciting events supporting local talent.” Schedule & More Info!           April 13th: Future Fest “Bring your friends to this free event that’s all about YOUth! Make new friends! Try an activity! Meet your Mayor! Enter a creative competition! Watch a performance! Check out future careers! Take part in a sports clinic! HAVE FUN! YOUth belong at Future Fest 2024! Brought to you by the City and County of Denver.” More Info!             April 20th: 420 on the Rocks “AEG Presents: Wiz Khalifa & Flatbush Zombies – 420 ON THE ROCKS with Earthgang, Chevy Woods and DJ Bonics live at Red Rocks Amphitheatre.” Tickets & More Info!             April 25th-28th: A Midsummer Night’s Dream “Deep in the forest, Oberon and Tytania, the fairy king and queen, are quarreling. Oberon enlists his henchman Puck to find a magic plant and cast a spell on Tytania. Meanwhile, four Athenian lovers run away to the forest, and they are quickly entwined in Puck’s trickery. Join Lamont Opera Theatre and Lamont Symphony Orchestra performers for magic, mischief, romance, and sheer enchantment in Benjamin Britten’s setting of Shakespeare’s classic comedy.” Tickets & More Info!           May 3rd: First Friday  “The First Friday Art Walks are the signature event of Denver’s Art District on Santa Fe. All year round, rain or shine, the District comes alive on the first Friday of each month as thousands descend upon Santa Fe Drive for the First Friday Art Walks from 5:30-9:30 p.m. View art from hundreds of artists in galleries, studios, co-ops, upstairs, downstairs, in alleys, on the street—everywhere!” More Info!           May 4th: Denver Derby Day “Celebrate the excitement of the Kentucky Derby with a luxurious viewing party on the Terrace and delicious brunch at The Ritz-Carlton. Get ready to experience the thrill of the Kentucky Derby like never before at our party with multiple 10 ft video screens and live entertainment all day long! Don’t miss out on the ultimate Derby celebration with two dance floors, giant interior event spaces, and a chance to show off your best outfit on our runway. Come rain or shine, our Derby Party offers ample indoor space to ensure the party continues uninterrupted or for those looking to seek refuge from the sun. Get ready to strut your stuff in our Best Dressed Contest and compete for amazing prizes while enjoying the sounds of our live band and multiple DJs. From interactive photo opportunities to amazing performers, our Derby Party has something for everyone, so gather your friends and come party with us! No need to wait for your drinks at our fast-serve bars with plenty of drink specials all day long, including the classic Mint Julep, so come thirsty and ready to celebrate. With a 21+ age requirement, our Derby Party is the perfect place to let loose and have fun with friends while experiencing the magic of the Kentucky Derby.” Get Tickets!           May 4-5th: Cinco de Mayo Festival “A weekend filled with food, fun and culture, Denver’s Cinco de Mayo ‘Celebrate Culture’ Festival puts the spotlight on The Mile High City’s vibrant Latino population. With more than 400,000 attendees expected, it’s one of Denver’s most fun and family-friendly events.” More Info!           Have an amazing April!    

Denver Real Estate News – March 2024

  Will Buyers or Sellers Strike Luck This March?   Billy Zane famously said in Titanic, “A real man makes his own luck.” What better way for buyers and sellers to step into the Denver real estate market this month than by crafting their own luck with a strategic approach tailored to capitalize on current market conditions.      As interest rates fluctuate between 6-7%, the delicate balance of market advantage shifts between buyers and sellers. Sellers are capitalizing on the bustling spring season by presenting their homes in the best light possible. Well-maintained, staged, and appropriately priced properties are garnering multiple offers and going under contract within days of hitting the market. Meanwhile, buyers are facing substantial house payments, maintaining high expectations. While some are willing to invest heavily in their dream homes, others are strategically seeking deals on properties that have lingered due to issues like deferred maintenance or overpricing.   The month-over-month metrics prove that the spring market is heating up just as anticipated. With a jump in inventory, more homes going under contract and closing, rising sales prices, and a decrease in days on the market, it’s clear that the spring real estate market is charging full steam ahead. Whether you’re searching for your dream home or looking to capitalize on your property’s value, it’s essential to have a knowledgeable real estate agent by your side to help you navigate the process with ease.   Info for Sellers: Make Sure Your Home is Show-Ready for Success   As new listings increased 29.12 percent, paired with a 12.70 percent increase in pending sales, it’s clear that buyers are taking their time to choose the right home for their needs.   Despite buyers’ knowledge of growing inventory making them more discerning, it’s evident sellers are still receiving strong offers with overall increases in Average & Median Close Prices as well as Close-Price-to-List-Price ratios, thus proving the unique vantage for both buyers and sellers in the same market. Sellers can maximize their profits by pricing their homes strategically and staging them to showcase their best features to attract qualified buyers and hopefully multiple offers.       Info for Buyers: More Listings, More Luck     The best nugget of gold for buyers this month is that inventory is up significantly with 5,511 Active Listings at Month’s End, a 13.14 percent jump month-over-month and a whopping 45.87 percent increase year-over-year! As more inventory comes to the market, there are options. With options comes more room for negotiation upfront on price and terms. In addition, we are still seeing plenty of negotiation under contract on inspection items. With a little luck and a lot of perseverance, you just might find your own pot of gold in Denver’s housing market!   (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.