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- Newsletter - March 2024
Newsletter - March 2024
Real Estate News and Local Events
Real Estate News and Local Events for Spring!
Hi ,
Does it feel like Spring is just around the corner? Well, it is here in the real estate market. Sales are picking up and home inventory is rising, as it typically is this time of year. Take a few minutes and review the following news:
Market information through the end of February
Fun local events to enjoy this Spring (Restaurant Week, Art Tours)
Connect with me on the Homes.com app
Coupon: 1-800-GOT-JUNK
If you or someone you know plan to buy or sell, your referral is the best compliment I can receive. I’m always available for you and your referrals!
Best regards,
Todd Holmes, Broker Associate, Realtor®
RE/MAX Alliance - serving the Denver Metro Area
Mobile: (303) 570-3419
Email: [email protected]
Five Star rated agent serving clients throughout the Denver metro area!
Market Report: Inside the Numbers
Sales are picking up and homes are going under contract faster. Mortage rates have been rising as economic reports are not showing the reduced inflation figures as expected. This will be important to watch in the coming weeks. Buyers and sellers are back in the market, but rising rates could stall the Spring season momentum. In spite of the latest reports, experts are forecasting a strong 2024 with moderate increases in home values and lower mortgage rates.
The following reports are through the end of February looking at Single Family Home sales in the Denver metro area. I enjoy digging through the numbers and would like to help you with your specific questions.
Contact me if you have any questions or if you would like more details about these reports.
Median Home Prices for Single Family Homes
Home values are on the rise as we start 2024. Rates declined in the previous weeks and many home buyers are finding real estate more affordable. While not at the rates of previous years, a rate in the 6% range and the possibility of seller incentives to lower the rate, buyers are acting now to get the perfect home. At this trajectory, prices are likely to rise slightly as we continue through the year.
Key numbers to watch: Inflation, Unemployment, and CPI figures. I post these on my social media channels each month so connect with me to have the latest information.
Number of Days on the Market
The number of days for a home to go under contract dropped 22% from January to February. This trend is typical for this time of year but might be somewhat deceiving.
Move-in ready homes are selling FAST! The homes that are in need of repairs and priced too high are taking a few weeks to get a contract. Listings that are priced too high are also sitting on the market.
In the upcoming months, I expect to see this figure continue to decline but not as low as previous years. Most neighborhoods will see homes taking 2-4 weeks to sell in the Spring season.
It is still VERY important to stage your home to sell, price your house right, and make the necessary updates to attract motivated buyers.
Consider New Construction
Many home buyers are looking at new homes if they can’t find the right home on the market (happening because of lower inventory and higher rates). New home builders also tend to offer incentives to buyers, especially on homes that are already finished and ready to move in. Do you have questions about this? I am an experienced agent and help clients with new construction every year.
Search for Homes
If you are looking for a home or just curious about a home’s value, click on the following button to connect with me and have all listing information at your fingertips. When you have a question, just send me a message directly from the APP.
Denver Restaurant Week
For two decades, Denver Restaurant Week has been serving up a much-anticipated experience for locals and visitors alike to celebrate the city’s thriving culinary scene with restaurants now helmed by Michelin-starred and James Beard Award-winning chefs.
You’ll find plenty of fine dining options at chef-owned eateries, along with cuisine from around the globe at our gourmet food halls and markets, and fresh, local ingredients like green chili and Colorado lamb and beef. For the first time, Denver Restaurant Week will include four price points: $25, $35, $45 and $55 for a multi-course meal.
Click here for more information.
Tour Denver Murals & Street Art
Denver is one hot ticket when it comes to street art. With its quirky demeanour and cultural focus, it’s no wonder that its urban art scene is popping – and believe me, it is. Planning to explore Denver’s murals and street art? I’ve created this handy guide, complete with a self-guided tour and map. Let’s go!
Click here for more information.
Connect with me on Homes.com
I’ve set up a personal real estate page for you to connect with me, search all available (and off market) properties, and give you a simple way to ask questions! Connect with me at Homes.com!
Valuable Coupon: A Little Something for your Spring Cleaning
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