Monthly Roundup May: DMAR in the News
USA Today
Prices for most U.S. homes remain below precrash peaks
“Most homeowners feel (the price run-up) is a security blanket,” says Steve Danyliw, a broker with Danyliw & Associates and chair of the Denver Metro Association of REALTORS®' market trends committee. Many, he says, are taking out home equity loans to pay for expenses such as their children’s college education. Read more...
Forbes
Denver Home Prices Continue to Rise
The average price of a home that sold in April in metro Denver climbed to $439,161, up 3.41 percent from the month prior and up 10.53 percent year over year – reaching a new record high. That's according to new figures from the Denver Metro Association of REALTORS®. “The price of housing is on a higher trajectory than wages, and the affordability gap in the middle is getting wider,” said Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “Is this sustainable? In my opinion, no. A healthy market needs a good balance of buyers and sellers combined with modest price growth.” Read more...
Westword
Denver Has Many More Real Estate Agents Than Real Estate Listings
Scott Grossman, board chairman for the Denver Metro Association of REALTORS®, who recently spoke to us about the proliferation of "Coming Soon" signs outside properties headed for market, offers another way to measure the number of people gravitating toward the profession. Over the last six months or so, he says, "we've been gaining about 118 members a month." Read more...
Denver 7
Denver home prices rose to new record high in April
Denver home prices rose to a new record high in April, according to the latest data from the Denver Metro Association of REALTORS®. The average sale price of all residential properties -- single-family homes and condos -- was $439,161. That represents an increase of 3.41 percent from March and 10.53 percent year-over-year. The median sale price, which isn’t skewed as much by the most expensive homes in the market, was up 3.09 percent to $383,500. Read more...
Is Denver's real estate market a bubble ready to burst?
The average sale price of a home in the Denver area was $439,161 in April, a new record high that puts home prices at 40 percent or more above pre-recession levels, according to Steve Danyliw, a Denver-area real estate agent and the chairman of the Denver Metro Association of REALTORS® Market Trends Committee. But he’s not ready to press the “panic” button just yet. “There’s no bubble or anything like that,” Danyliw said. Read more...
Denver Post
Home sales in metro Denver took an unexpected dip in April, but that didn’t prevent home prices from reaching new highs or temper the frenzy for lower-price properties, according to a report this week from the Denver Metro Association of REALTORS®. The average price of a single-family home sold in metro Denver reached a new high of $487,974, up 4.2 percent from March and 10.3 percent from a year ago. Read more...
In Denver’s red-hot real estate market, 5 things to do before ever setting foot in an open house
We’ve all seen the headlines: Inventory well below historic averages, home prices racing higher and higher, starter homes all but guaranteed to incite a bidding war. But buying is still possible — if you’re prepared. Just ask the 4,389 people who closed on Denver-area homes in April. According to the Denver Metro Association of REALTORS®, half of all homes sold were under contract in five days or less. Read more...
Denver Business Journal
Home prices in metro Denver post bigger increase than previous months
Average home prices in metro Denver have increased by 10 percent from a year ago to $439,161 after a few months of smaller increases, according to the latest data from the Denver Metro Association of REALTORS®. That includes both attached condos and townhomes and detached houses; it also includes new construction sales as well as resales of existing homes. For houses alone, the average price increased 10 percent in April year-over-year to $487,974, and for attached homes, the average price increased to 11.7 percent to $318,487. Read more...
Mansions moved faster in late winter
After a relatively quiet winter, luxury home sales began to pick up speed again at the end of the third quarter, with the number of homes selling for $1 million or more nearly doubling between February and March. Including both attached and detached homes, 123 properties sold for $1 million or more in March, according to data from the Denver Metro Association of REALTORS®, while just 63 properties at that price point sold the month before. Read more...
Denverite
The new normal? Median Denver single-family home price is $420,000 in April
Real estate in the Mile High City has hit a “high plateau,” appropriately enough, according to the latest from the Denver Metro Association of REALTORS®. In April, the median price for a single-family home was $420,000. A month before that it was $406,000. It may be that Denver real estate is entering an era where $400,000-level prices are normal for single-family homes. Read more...
Builder
Median Single-Family Home Prices Hit $420,000 in Denver
In April, the median price for a single-family home in Denver, Colo. was $420,000, up from $406,000 the previous month. According to the latest report from the Denver Metro Association of REALTORS®, the city’s real estate market has hit a “high plateau.” “The price of housing is on a higher trajectory than wages, and the affordability gap in the middle is getting wider,” says DMAR’s Steve Danyliw. “Is this sustainable? In my opinion, no.” Read more...
ConstructionDIVE
Denver had a 1-month supply of for-sale homes in April
The metro's tight inventory — with 5,300 active listings in April compared to a historical average of 15,710 — is giving a boost to new-home construction as buyers look for alternatives to bidding wars, according to the Denver Metro Association of REALTORS®. DMAR has expressed concern about the city’s home prices, which reached record highs in April at a growth rate that is outpacing that of wages. Read more...
National Mortgage Professional Magazine
Denver Has Far More Real Estate Agents Listings
Scott Grossman, board chairman for the Denver Metro Association of REALTORS®, stated that his organization saw about 118 new members a month over the last six months, and he added that “probably 15 percent of the licensees out there are driving in about 80 to 90 percent of the business.” But he also cautioned that the alleged glut in agents should be viewed in proper perspective. Read more...
