Real Estate in Denver and the Suburbs

I’ve written about it before – it is an event I have always been a fan of – Denver Restaurant week. Short on time this week, so my my wife Laura, who has written here before, helped me out.   Enjoy!

My Favorite Week is Now 2 Weeks! Denver Restaurant Week
guest author – Laura Scheer

Denver Restaurant Week is an annual event – a Denver favorite for many locals.  Personally I see it as a chance to get out in different parts of town and try a new local scene or re-visit past favorites at an appealing price.  Many of the restaurants that participate offer a fixed menu and all offerings are at a set price of $52.80 for 2.  – is just around the corner. And in fact in most participating restaurants it will be running for two weeks – from February 20 – March 5th. 

Some of my favorites (some are long time favorites!) that you may want to consider trying this year –

Tamayo, Larimer Square – Denver

Campo de Fiori – Cherry Creek – Denver

Barolo Grill – 6th Avenue, Cherry Creek North – Denver

The Fort – Morrison

Vesta Dipping Grill – LoDo, Denver – an all time fav!

Washington Park Grille – South Gaylord Street – Denver

Highlands Garden Cafe – Highlands, Denver

Marlowe’s – Downtown

The Capital Grillle – Larimer Square – Denver

Panzano – Downtown

Restaurant Kevin Taylor – Downtown

Gabriel’s – Sedalia

And the one we will be trying this year:

Jing – Landmark, Greenwood Village

I love heading to downtown Denver, whether its just Steve & I or a larger group of friends.  And some of the restaurants participating, including some of my favorites, offer such a great deal on the Restaurant Week menu that reservations will likely go fast.  And if you have recently relocated to Denver, Denver Restaurant Week is a fantastic way to get to know your new city and try many restaurants downtown and in the Denver suburbs.

Here’s a complete list of the restaurants that are participating in Denver Restaurant Week.

I was talking to a friend the other day and the subject of real estate came up. It seems like these days everyone likes to talk about the real estate market.  This friend wasn’t in the market right now to do anything, instead she was just curious about home values for her Highlands Ranch neighborhood.

If you read my blog regularly then you have likely heard me talking about absorption rates, especially regarding market statistics.  I’ve tried to explain how it relates to home sellers and buyers but it occurred to me that for many, the idea may not be too clear. Basically, absorption rates are derived from dividing the number of active listings by the number of sold listings for a specific period of time.  This is the basic and easiest way to determine absorption rates.  There can be other methods, such as using pending sales, etc…but generally this is it.

So, what can absorption rates tell me and why do I care? Once you’ve done the math, the number you come up with will be the amount of time the local real estate market is absorbing the current inventory.  In other words, this shows how fast are they selling.  Nowadays, this number is typically a number of months of inventory in a particular area.  As a home buyer or home seller this number can provide you a valuable target.  Sellers can determine for themselves how long the market is absorbing homes in their area and then determine how to price and market their own home to be on the front end of that time frame.  Buyers can use absorption rates to help determine the relative strength of a neighborhood and how to price an offer.

I hope this brief explanation helps you understand this key real estate statistic. If you are considering selling or buying a home in the Denver metro area, and you would like to discuss an effective strategy for your success then please contact me, I would love to help.

Steve Scheer, Denver Realty Partners
Real Estate in Denver & The Suburbs

Search all Denver & Denver Suburb Homes Here

If you would like more information on the Denver area or more information on Denver real estate, contact Steve at 720-849-6101 or email at sold@SteveScheer.com .

These Highlands Ranch real estate statistics represent the housing market activity in Highlands Ranch for zip code of 80130 (1/1/2010-2/1/2010), one of Highlands Ranch’s 3 zips. These statistics are for single family residential, detached homes and not condos or townhomes.

(Based on information from Metrolist, Inc. for the period 1/1/10 – 2/1/10.  Note:  This representation is based in whole or in part on data supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy.  Data maintained by Metrolist, Inc. may not reflect all real estate activity in the market.)

As you can see from the table above, there has been a good amount of real estate activity in the month of January for this area of Highlands Ranch.  Looking at the under contract and sold homes, the market suggests an average price of around $332,000 with an average price per square foot of around $155.

The current active, or unsold listings, indicate a potential need to adjust downward to attract a sale based on the current market statistics.  The absorption rate of this month only is approximately 6.45 months of inventory.  Therefore, if you are a home seller in this market segment and you would like to sell your home in the next 45-60 days, then pricing will be a key factor and paying attention to the numbers is vital to your success.

If you are considering selling or buying a home in the Denver metro area, and you would like to discuss an effective strategy for your success then please contact me, I would love to help.

Steve Scheer, Denver Realty Partners

Search all Denver & Denver Suburb Homes Here

If you would like more information on the Denver area or more information on Denver real estate, contact Steve at 720-849-6101 or email at sold@SteveScheer.com .

These statistics represent the Highlands Ranch real estate market activity in zip code of 80126 (1/1/2010-2/1/2010).

This is one of three zip codes which make up Highlands Ranch.  These statistics are for single family residential, detached homes and not condos or townhomes.

(Based on information from Metrolist, Inc. for the period 1/1/10 – 2/1/10.  Note:  This representation is based in whole or in part on data supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy.  Data maintained by Metrolist, Inc. may not reflect all real estate activity in the market.)

This zip code in Highlands Ranch represents the largest market segment of the three zip codes of Highlands Ranch.  It also has the widest range of value in house pricing as you can see in the columns of lowest price and highest price homes.  There is also the largest number of listings for this zip as well.

Pricing for this market segment can be difficult to determine based on the figures on the table above. Due to the large range of value, which reflects the home size and location, an easy average is hard to come by.  However, based on the averages for the general area of Highlands Ranch, it would suggest that a typical price per square foot may fall in the $155 range.  Based on the market statistics for this month only, sellers in this zip code face an absorption rate of just over 7.5 months of inventory.  So if you are a seller in this zip code and you would like to sell your home in the next 45-60 days, clearly paying attention to pricing and keeping competitive is vital to your success.

If you are considering selling or buying a home in the Denver metro area,  let’s talk strategy!

Steve Scheer, Denver Realty Partners
Search all Denver & Denver Suburb Homes Here

These statistics represent the real estate market activity in Highlands Ranch for the zip code of 80129 (for 1/1/2010 – 2/1/2010).

This is one of three zip codes which make up Highlands Ranch.  These statistics are for single family residential, detached homes and not condos or townhomes.

(Based on information from Metrolist, Inc. for the period 1/1/10 – 2/1/10.  Note:  This representation is based in whole or in part on data supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy.  Data maintained by Metrolist, Inc. may not reflect all real estate activity in the market.)

According to the data on the table above, active sellers are pricing their homes in line with those that have gone under contract.  There is a bigger difference in values when looking at sold home prices and price per square foot versus active and under contract homes.  This can be accounted for in the wide price range for this zip code.  This price range is reflected in the lowest and highest columns and there is a big shift.

Pricing is important in this market segment of Highlands Ranch as it is everywhere in the Denver real estate market.  The absorption rate for this month only is just under 7 months of inventory! So, if you have a home in this zip code and you want to sell in the next 45-60 days then you definitely need to pay attention to pricing and continue to keep up on the market trends for this segment.

If you are considering selling or buying a home in the Denver metro area, and you would like to discuss an effective strategy for your success then please contact me, I would love to help.

Interested in more information about Highlands Ranch?  Read More:
Highlands Ranch Get a New Sherriff Station
Living in Highlands Ranch – New Trash & Recycling

Steve Scheer, Denver Realty Partners
Real Estate in Denver & The Suburbs

Search all Denver & Denver Suburb Homes Here

If you would like more information on the Denver area or more information on Denver real estate, contact Steve at 720-849-6101 or email at sold@SteveScheer.com .