Home sellers’ market continues in Denver

real estate4New home listings flooded into the market in January, with 3,964 homes going on sale during the month, an increase of 62% from the 2,450 homes on the market in December. But when compared to last year, the number of new listings in January dropped by 5%, indicative of continued tightness in single-family home inventory. The number of total active listings in the metro area dropped to 5,152, 4% lower than in December and 26% lower than in January 2014.
Read article – Denver Business Journal

CHFA restarts downpayment assistance grants, targets Millennials

Sold PictureThe Colorado Housing and Finance Authority launched a new program Monday that will provide qualified borrowers with down payment and closing-cost assistance for up to 5% of the purchase price of a home. “This product will be a large help for millennials who have steady incomes,” said Jerilynn Martinez, a spokeswoman for CHFA. The assistance is defined as a grant that doesn’t have to be repaid, but borrowers participating must pay a higher interest rate on a first mortgage made through one of CHFA’s 90 lending partners.
Read article – Denver Post

Nearly 500 homes headed for Marathon Oil site in Littleton

home1Two homebuilders that purchased land within the 77-acre Marathon Oil redevelopment site in Littleton are planning a combined 461 homes there. The site has been renamed Littleton Village and is situated at South Broadway at East Dry Creek Road. Littleton Village is zoned for retail and office uses as well, and is Littleton’s largest redevelopment site, having been vacant since Marathon Oil closed its facility there in 2000.
Read article – Denver Business Journal

Colorado property values show big two-year increase

real estate2The value of residential and business property in Colorado has increased significantly over the past two years. Residential property values are up 14.3%, while commercial property values are 9.4% higher, according to the state Division of Property Taxation.
Read article – Denver Business Journal

Denver metro home prices have jolly December

Sold PictureInstead of slowing down as the market often does near the holidays, December brought with it a record-high average sales prices for homes in the metro area of $339,636 – up 11% over December 2013. The number of active listings in metro Denver dropped by 27% to 5,352 in December from the previous year, while the number of new listings increased by only 1% year-over-year. The average amount of time a home spent on the market also dropped, from 55 days a year ago to 39 days in December 2014.
Read article – Denver Business Journal

Denver metro homes gain $26 billion in value in 2014

real estate2Homes in the Denver metro area gained $26 billion in total value in 2014, a 9.5%. This was one of the largest increases in total value among the 35 top metropolitan areas analyzed, according to Zillow. Denver ranked fifth among the metropolitan areas in increases of total value. November home values in Denver were up 11% from home values in November 2013, to a median home value of $274,200 and median rents of $1,801.
Read article – Denver Post

Denver poised for increase in baby boomer home sales

home2Denver is already a prime place for retirement, and now the National Association of Realtors says that the area is among the 10 most likely to see an influx of baby boomers buying homes. NAR researched 100 metro areas nationwide with lower state taxes, strong job markets and strong in-migration patterns for baby boomers to determine that Denver will be one of the most popular markets for homebuying baby boomers.
Read article – Denver Business Journal

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