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Hello ,

What a year we have had so far!

The market has been active this year with many factors impacting buyers and sellers. Low inventory and fluctuating mortgage rates are the topics of the year for the local real estate market. Read my report below for a ‘five-minute’ market update.

Curb appeal is always a factor when selling real estate. Take advantage of the recent rain we have received and invest in your home’s landscaping. Many buyers make decisions about a home before they take a step inside. I’ve included some tips below.

If you or anyone you know plan to buy or sell real estate, now is a great time to talk about the market. I’m always available for you, your friends, co-workers, and family!

Best regards,

Todd Holmes, Realtor®RE/MAX Alliance serving the Denver metro areahttps://dot.cards/toddholmeshttp://www.toddholmesrealestate.com

Quick Market Report

The Spring market has been strong. Mortgage rates declined to the low 6’s in January and February leading to an active buyer market. Inventory declined as homes sold fast and prices rose.

In the past few months, rates stabilized in the mid 6’s and inventory began to rise (but remains well below last year).

With inventory remaining low, home values have been rising and are now approximately 1% below the higher prices of 2022. Current buyers are more accepting of the current rates and tend to be focused on getting the right home with plans to refinance down the road.

As you can see in the report, median home values are up significantly this year. The volume of homes currently under contract is much higher, reflecting the strong demand for real estate. On average, homes are taking about one month to sell, which is well below the figures from late last year.

What does the future hold?

Looking ahead, the real estate market in the Denver area continues to look strong. The following factors will impact buyers and sellers through the end of the year:

• Rates Stabilizing between 6-7%

• Rising Inventory (but only slightly)

• Strong Demand

• Picky Home Buyers

• Location, Location, Location

Rates will continue to change daily but experts predict they will generally remain above 6%. Inventory will increase in the coming months (which is normal for the local market). Home buyers are very active, but remain very selective. Home sellers need to consider some updates to command the top prices and see quick sales.

Contact me today to schedule a no pressure meeting. I will prepare a specific report for your neighborhood and answer all of your questions.

My Listings

New Listing: 14001 E. Marina Drive #108 in Aurora

Heather Gardens Condo with Underground Parking

Check out this two bedroom, one bathroom condo in the desirable 55+ community of Heather Gardens.

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How Important is Curb Appeal When Selling a Home?

The exterior of a home can help prospective buyers determine if they’d like to head inside – or run in the opposite direction. Sellers, take note.

The old adage “never judge a book by its cover” is an important one. But the truth is, first impressions are hard to recreate – especially when it comes to house hunting.

According to a RE/MAX Twitter Poll, a majority of responders – 46.2% – agree that a shabby exterior is the biggest turn-off when touring homes.

Here’s why curb appeal may be critical to selling a home.

Exteriors reflect interiors

Curb appeal is the external appearance of a home, comprised of landscaping, painting, staging and overall aesthetic.

When a home has an unkempt exterior – think dead grass, chipped paint or overgrown weeds – prospective buyers could assume the inside needs repairs, too.

“First-time homebuyers just want to lock down a house. A move-up buyer, however, will be more affected by curb appeal and consider it alongside their lifestyle,” he says.

And it’s not just the prospective buyer that forms an impression when looking at the house from the outside. Ford says that appraisers, inspectors, and real estate agents are also taking a home’s curb appeal into account.

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