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  Why Trying to Time the Denver Real Estate Market is a Fool’s Errand   If you’ve been holding off on buying or selling a home in the Denver metro area because you’re waiting for the “perfect time,” it’s time to rethink your strategy. Trying to time the market is a gamble that even the pros can’t win consistently. The reality is that no one can predict when prices will hit rock bottom or peak. Instead, the smartest real estate moves are made when they align with your goals and personal situation—not by chasing market trends. Whether you’re upsizing, downsizing, or just looking for a change, now may be the right time to make your move. In the Denver metro, we’ve seen a slight dip in home prices, with the average close price dropping 2.47% from $689,616 in September of last year, to $672,600 in September of this year. Meanwhile, the average days a home stays on the market increased by 5.41% from 37 days to 39 days. New listings have remained stable at 5,053, while pending sales have increased by 3.64%, reaching 3,761. Active listings have grown slightly by 3.65% to 11,115 month-over-month— but a notable 45.69% year-over-year rise.   To put that into perspective, the average number of active listings for September between 1985 and 2021 was 15,253. The record-high was 31,450 listings in 2006, and the record-low was 3,971 in 2021. Historically, listings have increased by an average of 0.74% from August to September, so this year’s 3.65% jump shows a strong late-season inventory growth.   Months of inventory, which measures how long it would take to sell all available properties if no new listings came on the market, has been steadily increasing. In May, there were 2.18 months of inventory, rising to 3.6 months by September. While still below Denver’s balanced market range of 4 to 6 months, this shift marks a significant change from recent years. It’s a stark contrast to the pandemic frenzy, when inventory dropped below one month, fueling an intense seller’s market.   Info for Sellers   Homes are now spending more time on the market, often requiring price reductions before finding a buyer. Buyer demand has tapered off due to higher interest rates and, to some extent, the upcoming presidential election. Many buyers are waiting for the perfect home and are less willing to compromise, especially when they’re paying more in interest. When buyers do find the right property, they’re quick to negotiate—even if the home is newly listed. Sellers need to recognize that the market is taking longer to absorb inventory, and this trend may continue as we approach the election and the holiday season. Some sellers are choosing to wait until spring, aiming to list during what is traditionally the peak selling season for the Denver metro area, a time when home prices tend to reach their highest for the year.   Info for Buyers   On the other hand, buyers who wait for the election to pass or the holiday season to wrap up may miss out on prime opportunities. Historically, home prices tend to rise after an election cycle. If you’re waiting for the perfect time to buy, you could find yourself regretting not making a move while the current inventory and pricing are more favorable.   Whether you’re buying or selling, trying to time the market is risky and rarely yields the perfect result. Real estate decisions should be based on your own needs and circumstances, not the fluctuating market trends. The best move is to work with the right agent, stay informed, and act when it’s right for you—not when you think the market has hit its peak.     *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.      

  October Events Around Town! And a couple early November events…     Present – November 2nd: 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, 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.” Tickets & More Info!           Present – November 3rd: Elitch Garden’s Fright Fest “Fun By Day, Fright By Night. Take a trip to Elitch Gardens this holiday season to Colorado’s LARGEST Halloween event! From 12:00pm to 6:00pm, kiddos can enjoy FREE candy, participate in Halloween-themed challenges, and play on their favorite theme park rides. After 6:00pm, the Fright By Night begins. Guests can enjoy all their favorite theme park rides in the dark, dare to enter the haunted houses, and watch their back for the nightmarish creatures lurking around every corner.” Tickets & More Info!           October 10th-12th: The Great American Beer Festival “The Great American Beer Festival represents the largest collection of U.S. beer ever served, in the format of a public tasting event plus a privately judged competition. Dubbed by Thrillist as “The One Beer Festival You Must Go to Before You Die,” GABF has topped beer lovers’ bucket lists since 1982 and unites beer lovers and brewers from all corners of the country to celebrate the nation’s ever-growing craft beer culture.” Tickets & More Info!           October 11th-14th: Ringling Bros & Barnum & Bailey: The Greatest Show On Earth “Get ready for The Greatest Show On Earth®! The reimagined Ringling Bros. and Barnum & Bailey® invites Children Of All Ages® to a spectacle of superhuman feats, pushing the limits of possibility and thrilling families and fans of all generations.” Get Tickets!             October 12th: Colorado Avalanche vs Columbus Blue Jackets “Cheer on the Avalanche when they take on the Columbus Blue Jackets in their first home game!” Get Tickets!                October 12th-13th: Pumpkin Harvest Festival “Pick out the perfect pumpkin or unique local treasure in the marketplace, 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.” Tickets & More Info!           October 16th-November 24th: Hamilton  “A revolutionary story of passion, unstoppable ambition, and the dawn of a new nation. HAMILTON is the epic saga that follows the rise of Founding Father Alexander Hamilton as he fights for honor, love, and a legacy that would shape the course of a nation. Based on Ron Chernow’s acclaimed biography and set to a score that blends hip-hop, jazz, R&B, and Broadway, HAMILTON has had a profound impact on culture, politics, and education.” Get Tickets!           October 24th: Denver Nuggets vs Oklahoma City Thunder “Come cheer on the Nuggets!” Get Tickets!                   November 1st-10th: The 47th Denver Film Festival  “The largest film festival in the region is back: Full of groundbreaking cultural events, creative and inspiring conversations and showcasing over 200 films across 10 days, the 2024 Denver Film Festival is bound to be one for the books! Secure your passes and ticket packs to get the most out of Denver’s biggest celebration of film.” Tickets & More Info!           November 9th: Denver Veterans Day Parade & Festival “The Denver Veterans Day Parade is comprised of local Veterans organizations and supporters. Thousands of spectators line City Park to show respect and honor for our local Veterans. Please join the community in the appreciation of our Veterans and support this important cause.” More Info!               Have an amazing October!    

Shifting Seasons August’s Market Trends and What to Expect This Fall in Denver Real Estate   As summer draws to a close, Denver’s real estate market transitions into its fall rhythm. Historically, September brings challenges for sellers, as end-of-summer trips and back-to-school activities often slow buyer activity. However, this year’s market data reveals a more complex picture, with key indicators highlighting both opportunities and necessary adjustments for buyers and sellers alike. Let’s dive into how August shaped Denver’s real estate market and the trends to watch as we move into the fall season.   August experienced a slight dip in new listings, down 0.76% month-over-month, while active listings increased to 10,724 homes, marking a significant 56.37% increase from last year. For context, the average number of active listings in August over the years is 15,439, with historical highs and lows ranging from 31,664 listings in 2006 to a record low of 3,582 in 2021. This year’s slight decrease in active listings, down 1.32% from July, aligns with the typical seasonal trend where listings usually drop by 1.29% between these two months. Pending sales showed positive momentum, rising by 3.74% from July and 7.7% year-over-year, indicating that more buyers are re-entering the market as mortgage rates decrease. Conversely, closed sales fell by 7.55% month-over-month, but this figure is expected to rebound soon due to the 30-day closing lag.     The attached homes segment saw the most pronounced swings in data. Rising HOA dues, increased taxes, and higher insurance premiums have made transactions more challenging. Active listings remained relatively stable with a 0.40% month-over-month increase but surged by 70.92% year-over-year. Median days on the market increased by 136.36% compared to last year, now at 26 days. Additionally, the median close price in this segment dropped to $396,350, down from $415,000 in July and $418,000 a year ago.   By contrast, the detached housing market showed more stability. Active listings increased by 50.85% from this time last year, while new listings saw a slight decline of 0.99% from July to August. Pending sales rose to 2,836 homes, reflecting continued buyer interest. The median close price remained steady at $650,500, showing only a slight decrease of 0.69% from July and a marginal increase of 0.08% compared to last year. Median days on the market edged up to 19 days.   Overall, the current Denver real estate market is characterized by cautious behavior from both buyers and sellers, with limited urgency driving transactions. Buyers are closely monitoring listings but are hesitant to make offers unless a home matches their criteria perfectly. This has led to an increase in contracts falling through, attributed to factors such as contingent offers, lending challenges, and sellers’ reluctance to negotiate on inspection items. With the Federal Reserve’s September 17-18 meeting approaching, the market is keeping a close watch on interest rates, inflation, and broader economic updates, which could significantly shape real estate activity through the end of the year.     Info for Sellers   As Colorado home sales slow, seller concessions are becoming increasingly common. Over half of all statewide transactions this summer included incentives to attract buyers. With interest rates and insurance premiums making buyers more cautious, sellers must stand out in the market. Offering concessions to cover closing costs or making necessary repairs can help close a deal in this climate.   September has traditionally been a challenging month for home sales, as distractions like vacations and back-to-school events often decrease buyer activity. Sellers should consider investing in pre-inspections and addressing needed repairs before listing. Presenting a move-in-ready home will likely capture more attention and lead to a successful sale.     Info for Buyers   A notable 10% year-over-year increase in pending sales of starter homes in July signals that first-time buyers are capitalizing on the slower market. While waiting for the perfect moment may be tempting, it’s crucial not to rely on the hope of significantly lower mortgage rates. Forecasts for 2024 suggest rates will hover around 6.4% to 6.5%, with the current (at time of writing) 30-year fixed rate at 6.43%. Substantial drops in rates are unlikely in the near term.   Instead of waiting, now is a great time to focus on preparing for homeownership. Get clear on your goals and what kind of home best fits your needs. If you do choose to wait, use this period wisely by improving your credit, saving for a down payment, and budgeting to ensure you’re financially ready when the time is right. Buying real estate can be a powerful step toward financial stability, security, and long-term flexibility.   Whether you’re buying or selling, the Denver real estate market is filled with both challenges and opportunities this fall. Buyers should focus on preparation, while sellers can boost their chances by making their homes stand out. Stay informed and take proactive steps to navigate the shifting market effectively.     *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.      

September Events Around Town! And a couple early October events…     September 4th-7th: Denver Food and Wine Festival “The Denver Food + Wine Festival is a multi-day extravaganza of food, wine, and spirits events presented by the Colorado Restaurant Foundation and Southern Glazer’s Wine & Spirits. This annual event benefits the Colorado Restaurant Foundation, which supports worker education, training, and Colorado ProStart®, the state’s high school culinary and entrepreneurship program; mental health and wellness resources; and the Angel Relief Fund, which provides grants for hospitality employees experiencing hardship. Festival events feature the best of metro Denver’s restaurant community, the finest wine and spirits, educational seminars, and the culminating signature Grand Tasting.” Tickets & More Info!           September 13th-15th: 2024 Colorado Fall Home Show “The Colorado Fall Home Show, Sept. 13-15, 2024 transforming the Colorado Convention Center into a marketplace of home renovation ideas, interior design, remodeling, sustainable living, trends and products. The show features: The Colorado Fall Home Show features more than 200 home improvement companies offering tips, advice and the expertise for your home design and remodeling projects!” Get Tickets!           September 13th-15th: Denver Jazz Festival “The Denver Jazz Festival is three nights of world-class live music held in the Mile High City, Denver Colorado, and hosted by CMDance and the Denver Arts Venues. Our one-of-a-kind vintage music festival focuses primarily on vintage jazz and blues of the 1920’s, 1930’s & 1940’s. Social dancing, performances, theme nights, contests, and more! The venue features a spacious dance floor, full cash bar, and there are workshops and lectures available from internationally renowned instructors during the daytime hours through our sister events Lindy on the Rocks & Hot Night Fusion Weekend.” More Info!           September 15th: Denver Broncos vs. Pittsburgh Steelers “Cheer on the Denver Broncos as they take on the Pittsburgh Steelers!” Get Tickets!               September 20th-29th: Denver Oktoberfest “Denver Oktoberfest has been a staple two weekend festival in Downtown Denver since 1969. From keg bowling to stein hoisting, live music and more, there’s something here for Oktoberfest pro’s and first timer’s. So grab your stein, throw on your lederhosen and join us!” More Info!           September 20th-November 2nd: 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, 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.” Tickets & More Info!             October 4th-5th: Rodeo All-Star Weekend “The stars of rodeo return to Denver for the ultimate pro rodeo competition, Rodeo All-Star. This year’s Rodeo All-Star Concert, presented by Mountain Dew. Fans with a Friday night rodeo ticket will enjoy the country concert for free. Established in 2013 as the all-star event for rodeo athletes, the weekend includes three professional rodeo performances jam-packed with bronc riding, barrel racing, bull riding and fan-favorite, Mutton Bustin’ presented by Cash Cowboys. in concert, a special lunch with rodeo champions, and two post-rodeo after parties. Rodeo All-Star attracts top rodeo athletes from around the world.” Tickets & More Info!           October 10th-12th: The Great American Beer Festival “The Great American Beer Festival represents the largest collection of U.S. beer ever served, in the format of a public tasting event plus a privately judged competition. Dubbed by Thrillist as “The One Beer Festival You Must Go to Before You Die,” GABF has topped beer lovers’ bucket lists since 1982 and unites beer lovers and brewers from all corners of the country to celebrate the nation’s ever-growing craft beer culture.” Tickets & More Info!           October 11th-14th: Ringling Bros & Barnum & Bailey: The Greatest Show On Earth “Get ready for The Greatest Show On Earth®! The reimagined Ringling Bros. and Barnum & Bailey® invites Children Of All Ages® to a spectacle of superhuman feats, pushing the limits of possibility and thrilling families and fans of all generations.” Get Tickets!           Have a superb September! and October!    

Unpredictable Trends & Shifting Dynamics Amid Seasonal Slowdown   July is the time of year when we historically see the Denver real estate market slowdown. With kids out of school, people on vacation, and others enjoying the city’s warm weather and outdoor activities, real estate transactions often take a back seat. However, this year, the market has been as unpredictable as Denver’s weather. As the saying goes, if you don’t like the weather, wait five minutes—a sentiment that seems equally applicable to the housing market. Sellers may need to exercise patience, as even amazing properties can sit on the market, while less remarkable homes sell quickly, leaving many scratching their heads.      Many local real estate agents feel we are transitioning into a buyer’s market. This shift is difficult to define, as the pandemic has upended our traditional understanding of what constitutes a seller’s market versus a buyer’s market. Statistics suggest we are moving toward a balanced market (4-6 months of inventory), with 2.86 months of inventory steadily increasing throughout the year. However, in certain price ranges and neighborhoods, the market has clearly become a buyer’s market due to a wide variety of options. It’s important to remember that real estate is hyperlocal, and many factors can influence each home for sale. Beyond the usual aspects like location, size, and condition, factors such as interest rates and the size of the buyer pool can make one home a hot commodity while another sees less interest.   Active listings rose 3.62 percent month over month and an impressive 68.03 percent year over year, reaching 10,584. Year to date, active listings have increased between 44 percent and 161 percent compared to the previous three years. However, to put this in perspective, the average number of active listings for July from 1985 to 2023 is 15,502. The record high for July was in 2006, with 31,989 listings, and the record low was in 2021, with just 4,056 listings. Historically, the average increase in active listings from June to July is 5.41 percent. This July’s 3.62 percent increase suggests a slower-than-expected rise, indicating that our seasonal inventory peak may be approaching. Meanwhile, pending sales remained relatively steady with a slight 0.18 percent decrease to 3,896, and closed sales dropped by 5.19 percent to 3,708.     Info for Sellers   Buyers are becoming increasingly practical and discerning, appreciating improvements and upgrades related to energy, water, and space efficiency. In July, many buyers found their dream homes and negotiated fair purchase contracts, as sellers felt the pressure of longer days on the market. With rising inventory levels, buyers have been able to negotiate more favorable deals, resulting in the lowest close-price-to-list-price ratio seen year-to-date since July 2020. Sellers now is the time to highlight the unique features and upgrades of your property and price it competitively to attract discerning buyers. Don’t miss the opportunity to stand out in this shifting market!     Info for Buyers   As the summer selling season winds down in August, the changing marketplace provides an ideal opportunity for buyers. With increased leverage in negotiations, this period offers a prime chance to find a new home before prices potentially rise again. If you’re in the market, now is the time to act—take advantage of the favorable conditions and secure the best deal on your new home!   The anticipation of a potential rate cut in September is influencing both sellers and buyers. Buyers are waiting on the sidelines, hoping to capitalize on lower rates, while sellers are holding off on adjusting prices, expecting the market to “improve” once rates drop. This cautious optimism from both sides is shaping the current dynamics, as everyone waits to see how the market will respond to the anticipated change.     *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.      

August Events Around Town! And a couple early September events…       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!           August 19th: Film on the Rocks – Fury Road “Denver Film Presents – Film On The Rocks: Mad Max: Fury Road. Featuring a pre-show performance by the winner of the Colorado Native Sundown Throwdown, a Battle of the Bands contest sponsored by Molson Coors.” Get Tickets!             August 22nd: Summer Scream “For one night only on August 22nd, the historic and neon-drenched Lakeside Amusement Park closes its doors to the general public and lets Denver Film unleash total control to create the most amazing party of the summer, putting the fun in fundraiser! Each ticket includes entry to the park, unlimited rides, and unlimited open bars.” Tickets & More Info!             August 23rd-September 2nd: Colorado State Fair “The 152nd Colorado State Fair promises all the excitement of the past: free entertainment, contests, concerts, rodeos, a demolition derby, carnival rides and great Fair food! Buy tickets now through Aug. 22 for discounted general admission and carnival tickets. Go to coloradostatefair.com for more information.” More Info!             August 22nd-24th: The Denver BBQ Festival “The Q BBQ Fest is coming to Denver! Don’t miss this chance to grab an ice-cold brew and sample pure smoked bliss from award-winning pitmasters from across the country.” Tickets & More Info!               August 24th: Reggae on the Rocks “Live Nation, Bill Bass and KBCO Present: Reggae On The Rocks 2024 with Rebelution, Kolohe Kai, Israel Vibration, King Yellowman, Judge Roughneck and DJ Mackle live at Red Rocks.” Get Tickets!               August 25th: Preseason: Denver Broncos vs. Arizona Cardinals  “Denver Broncos take on the Arizona Cardinals in preseason game 2!” Get Tickets!               September 1st: Labor Day Fireworks “Join us for Labor Day and watch fireworks with friends and families!” Get Tickets!               September 4th-7th: Denver Food and Wine Festival “The Denver Food + Wine Festival is a multi-day extravaganza of food, wine, and spirits events presented by the Colorado Restaurant Foundation and Southern Glazer’s Wine & Spirits. This annual event benefits the Colorado Restaurant Foundation, which supports worker education, training, and Colorado ProStart®, the state’s high school culinary and entrepreneurship program; mental health and wellness resources; and the Angel Relief Fund, which provides grants for hospitality employees experiencing hardship. Festival events feature the best of metro Denver’s restaurant community, the finest wine and spirits, educational seminars, and the culminating signature Grand Tasting.” Tickets & More Info!     Have an amazing August!    

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.      

  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 5280scene.com!” 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!    

  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.