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Denver Market Update

Denver Market Update

Real Estate News – October 2017

Every quarter we are proud to bring you the latest Denver Metro Price Change Map which you will find inside this issue. This tool is created and developed by Your Castle Real Estate to give you a clear sense of current real estate trends in each metro Denver neighborhood. For the first time, we can look inside each neighborhood and see what the real estate market looks like at a hyper-local level so you can make a better decision whether you’re buying, selling or investing. Please take a moment to review one of the maps; We think you will find them very interesting!

Central
North
South
East
West

Here’s how to read the map. Pick a neighborhood that interests you, say Wash Park West (on the Central map). In Wash Park West, there has been a 16 percent price increase in the past year, and the average sold price was $673,000. There were 111 sales in this time period, and currently, there are only 14 active properties for sale. There are only 1.5 Months of Inventory (MOI). What does this tell us about Wash Park West? It tells us that prices have been rising in the past year due to low Days On Market (DOM) and increasing prices, and the inventory is very low which favors sellers. With only 1.5 MOI (6 months of supply is a balanced market) this is a hot neighborhood.

Let’s look at another neighborhood. In City Park West there has been a 9 percent rise in home prices in the past year. The average sale price is $643,000 and during the previous 12 months, there have been 25 sales. Currently, there are 5 active properties and 2.5 MOI. What this tells us is that City Park West is doing well but isn’t quite as strong as Wash Park West.

Look for your neighborhood and hopefully, you find this tool helpful. Give me a call and we would be happy to sit down with you with a full size 36” X 18” copy of the map so we can review it together and we can answer all your questions.

Thank you!

As always, we’d like to take a moment and say thank you for your business and referrals. Every client is special to us and it’s a pleasure and a privilege to serve your real estate needs. Please feel free to contact us anytime if you have any questions or thoughts about the real estate market.

If we can help you in any way, don't hesitate to contact us!

Testimonials

“We currently live out of state and Drew made selling our home easy! He made sure everything was in order, he made sure that we knew everything that was going on and updated us with the progress of inspections, repairs etc. He went above and beyond what he need to. He knew the right price to price our home and we got full asking price!”

Chris and Jessica G.

“From start to finish, Drew made the home purchase process painless. His knowledge of the markets and the process, coupled with his can-do attitude truly won me over.”

Larry R.

jpeg-3.jpg“We are so grateful that Drew was referred to us. We found him to be responsive, knowledgeable, and patient. He kept in constant contact with us during our search. Most importantly, once we made an offer he and his staff were so very helpful in each of the steps leading up to and including the closing. We would highly recommend Drew Schneider.”

Richard V. and Terry M.

“Wow! Drew was wonderful at keeping me grounded. It helped a lot so my eyes didn’t get bigger than my wallet!!”

Shelley H.

“Best experience with home sales we’ve had. Drew priced our home perfectly, leading to a quick sale in a difficult market for the best price that we could have hoped for. Drew marketed our home aggressively online, and he regularly presented us with information on how much interest our online profile was receiving. When new appraisal rules threatened to subvert the sale of our home, Drew used every means at his disposal to guarantee a successful close. I never hesitate to recommend Drew to anyon…

AJ and Melissa R.

“Wow! Drew was so professional and really kept us in the know, especially after we moved. Since we had relocated to another state and left our home vacant, we were quite nervous. Drew sent us regular e-mails advising us of any showings, feedback or interest. When our offer came, his negotiation skills and advice were second to none. He did everything he could to make sure we sold our home for a price we needed. We would highly recommend him to anyone that is buying or selling a home.”

David and Tiffani F.

“Drew was great at letting us decide what our thoughts were about each house before adding his own opinions. He was very honest about the strengths and weaks of re-sale values of each property. Drew was very professional. He was also very available when we needed him and flexible with doing showings. I liked that he was not pushy and never made me feel like he was just trying to get the sale. I think Drew genuinely cares about each of his clients and their overall happiness with his services, …

Gracy M.

“…all we can say is we wish we would have used Drew in our previous dealings.”

Carlos and Karla C.

“Drew was very knowledgeable and honest in his assessment of the market. His understanding of the real estate market helped sell our home after the first showing.”

Terra and Kenyon W.

“Drew is an incredible agent with vested personal interest in assisting you to sell or purchase your home. His ability to address our specific situation with care, compassion, honesty and diligence was absolutely essential. Stand alone, he was and still is, the most trusted person we had in our situation. In addition to his abilities, he has a network of professionals that share his same values when dealing with clients. We wholeheartedly recommend Drew for any real estate transactions. Not on…

Michelle F.

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