Year End Real Estate Data in Highlands Ranch 2013

The Numbers – How Highlands Ranch Homes Sales Fared in 2013

Happy New Year!

Now that we have a couple weeks of 2014 under our belt let’s take a look at how the Denver area real estate market performed last year.  There is a lot of positive speculation out there regarding the economy and especially the real estate market here in Highlands Ranch, it’s always a good idea to take a look back at the year end real estate data for 2013 to get a sense of the activity and where it may lead us this year.

By most accounts, last year was a tremendous success when it comes to the Highlands Ranch housing market!  Days on market averaged only around a month while the average months of inventory remained just about 2 months.  If we compare the activity in Highlands Ranch for 2013, year over year to 2012 we see these very positive results:  Overall number of sales in 2013 were up by 314 homes. (Keep reading below my year end graphic.)

Highlands Ranch Market Stats 2013

Overall days on market to sell those homes was down by an average of 25 days. Almost a month! And the overall average sales price INCREASE was $22,318,000.  So more homes sold, for more money and took a lot less time to sell.  Is there any downside to that? Actually, if there is a downside to the year end real estate data in Highlands Ranch it is the inventory levels.  Low, low, low housing inventory throughout much of the Denver metro area but this is especially true in Highlands Ranch.  This creates a great market for sellers who want a faster sale and near asking price on their home – if of course it is priced right in the first place.  But for home buyers, this increases the likelihood of needing to overbid on homes, feeling rushed a bit in making a decision and of course, the disappointment of losing out on the home, or homes, of your dream.  It can be rough.  Most of the sellers become buyers and feel both ends of the home low inventory issue.

However, the year end real estate data for Highlands Ranch for 2013 is still a very positive result. It is always good to have home prices increasing and demand high.  This is a great situation to be in.  With interest rates remaining low for the time being, I would suspect demand for Highlands Ranch homes to stay red hot and why not, Highlands Ranch is a wonderful place to live and an excellent place to own a home.

I live and work in Highlands Ranch and have for nearly 20 years.  If you are considering a move in Highlands Ranch, you’ll want an agent with experience to help navigate the details in a fast moving market with competing offers.  If I can help you with your next move, please get in touch and let’s start the conversation.

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Denver Real Estate Report – Year End 2012

 

Denver Real Estate Report 2012

Here is my Denver Real Estate Report for Year End 2012.  It is a comprehensive data report showing real estate data for the Denver Metro area in many cases all the way back to 2005.  That comes in handy when you want to see trends and real estate market movements.

The key takeaway from this report is this:  the Denver real estate market has, by and large, rebounded and moved upward in valuesAverage sold prices have increased in 2012 over 9% from 2011 and days on market have decreased just under 29% in 2012 versus 2011! Contrary to many of the markets nationally which may still be hurting or just stagnant, Denver has began to come back strong!  Real estate is local and I’ve always said that.  I still hear plenty of folks, especially those that may be relocating here to Denver that since it is a buyers market they may just rent and wait until the prices bottom out.  I don’t know.  I think that ship may have already sailed.  Please take a look at the Denver real estate report.  Rental vacancy here in Denver is so low in most areas that rents are at a premium and landlords are having no trouble at all getting what they ask for.  So with that in mind I think many of the would be renters are finding it to be more expensive to rent than to own.  The other big contributing factor to this is the low cost of financing.  Rates are cheap!  If you can qualify to buy, I think you need to be running those numbers, taking a look at the market trends and realizing it is time to buy.

The current buzzword here is “inventory”.  Better put, a lack of inventory.  Denver had nearly 58% fewer homes on the market in 2012 than in 2010 and just under 30% fewer homes from 2011 which itself was a slow year!  In nearly every zip code statistics indicate a strong seller’s market.  Great for sellers and for buyers, it just means less to choose from and if you’re serious you better be completely prepared and ready to contract quick once you find the right home.  Also, don’t expect sellers to feel the need to discount too much.  Most are getting pretty close to ask price and in many cases over that with multiple offers.

If you are in the market to buy or sell real estate in the Denver Metro area, please get in touch.  I want to help.  You need a broker with knowledge and experience to help you navigate an ever changing market.  Contact me and let’s talk a bit and see if we are a good match to work together.

Littleton Real Estate Market Report

The Littleton Real Estate Market Report for October shows great signs of continued improvement.  The real estate data for the month is up significantly in the average sold price with just under 15% gain from last year!

Taking a look at the year to date figures, we can see that the homes under contract and sold are both up over 30% while the days on market have slid down just about 30% as well.  Wonderful news for the sellers in the Littleton real estate market.  Buyers will need to compete for the few listings available in today’s market.  Inventory levels are down and active listings in Littleton are down just about 42% from the same time last year.

The good news for buyers is the continued low interest rates.  With mortgage rates this low, it makes it easier to qualify and of course, your money can go a lot further each month with less to pay towards interest.

Overall, Littleton is in a seller’s real estate market.  With low inventory and rising values, I think we have seen the bottom of the market come and go already.  Get ready for a great 2013.

If you would like help selling or purchasing a home or investment in Littleton, please get in touch.  I would love to talk.

Littleton real estate market data

Highlands Ranch Real Estate Market Update October 2012

Denver Real Estate Report &  Trends – Highlands Ranch

Let’s take a look at the Highlands Ranch real estate market update for October.  I live in Highlands Ranch so I’m happy with the trend for the market.  But, I also work a lot here and as you can see with the amount of active inventory from this month last year, way down.  I’ll take it though.  I also think the market activity early next year and into spring may explode here in the ranch.

To begin, active home listings are down an incredible 44.5%.  Almost half.  It’s been this way for awhile now so I think a lot of folks have been sitting tight while the market recovers a bit and that’s not a bad plan.  Let’s shift to the year to date.  You can see the homes under contract and sold are way up.  Big demand, little inventory coupled with historically low mortgage interest rates.  It is a seller’s market.  Days on market are down just over 30% and average values are up almost 4%.  The real estate market has turned around here in Highlands Ranch.  Actually, it has moved this way for awhile now and I expect even more improvement next year.

If you are a seller or buyer in Highlands Ranch, I would like to help.  Just get in touch.  Let’s have a friendly conversation and maybe make a plan moving forward.  The numbers show the bottom of the market has passed and the opportunity is now.

 

Highlands Ranch real estate market data

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Buy, Sell, Rent or Wait | Denver Real Estate Market

Real Estate Sold SignIt’s back to school time and we will be heading towards the holiday season soon, so this time of year usually brings out the question in the minds of home sellers and buyers in the Denver real estate market, “Is now a good time to buy or sell, or should I wait for the market to improve after the holidays?”  However, this question has gone on all year for many.

We watch the news and read online of the questionable real estate market and the “experts” tell us there may be this new wave of shadow inventory still to come.  Of course, bad news does sell after all. Well, I don’t have a “crystal ball” to see if this does happen in the future, I don’t see this devastating wave of distressed inventory crushing the market again. I hope I’m right!  Real estate markets are always local, I’ve said it many times before and even the local markets are difficult to predict.  I will say there is plenty of data to suggest it is a good time to buy Denver real estate. If you want or need to sell your home, the numbers are very encouraging.  If you plan to purchase another home to replace the one you sell you’ll find that inventory is low and good homes get snatched up quick.  Mortgage interest rates remain very low making your buying power better than ever.

Maybe you think it would be better to just rent.  Vacancy rates in Denver have hit some of the the lowest levels since they’ve been tracked.  What does that mean to you?  You will likely need to be better qualified and pay more in rent than almost ever before. In fact, it wouldn’t be surprising that you will pay more to rent than to own.  But, you say, “I won’t be locked into an home if the value goes down and I’m stuck with it.” It can be a complicated decision and needs to make sense to you personally.  If your goal is still home ownership, then I encourage you to consider your options.  Now is really a good time for that.

Let me know if I can help you begin the process of buying or selling real estate here in Denver. If you want to consider investing or you are an investor, I would like to help you take advantage of this market to grow your portfolio and profits.

 

 

Can You Buy A Home In Highlands Ranch For Less Than The Denver Area Average?

Highlands Ranch CO town centerSome people think the cost of homes in Highlands Ranch is more expensive than most places around Denver.  Not completely true at all !

In fact, Highlands Ranch homes may be more affordable than you think.

According to Metrolist, the MLS, the current average sold price in July 2012 for a single family residential home is $312,920.

Can you buy homes in Highlands Ranch less than that?  Maybe even far less than that ? Let’s take a look.

Here are homes you can buy in Highlands Ranch below the average for the Denver area.

Here are homes you can buy in Highlands Ranch below $250k. 

Impossible you say.  There you have it.  There is something for nearly everyone here in Highlands Ranch.  These lists do not include condos or townhomes, which some can be bought in Highlands Ranch for under $150k !

If you are looking to buy a first home, move up or investment please get in touch.  I may be a great fit in helping you find the next home.  I would love to help.

 

Douglas County CO Real Estate Market Update July 2012

Real estate market data isn’t always the most interesting to read about.  But, if you are in the market for a home or investment in the Denver area or thinking or selling then this data is probably pretty interesting.  And it should be!

Douglas County CO real estate statistics July 2012Let’s take a look at the statistics for some areas that I have included here in my Douglas County real estate market report.  The chart to the right is the statistics includes many of the south metro suburbs such as Highlands Ranch, Castle Rock, Parker and Lone Tree to name some. (click the image to view larger)

The active home inventory is down over 30% from the same time last year. So if you’ve heard me talk about low inventory causing a brisk seller’s market, this is why.  Now take a look at the real estate under contract and sold homes year to date! To support the fact that it has moved to a seller’s market, homes under contract are up almost 34% and those already sold up almost 25% ! All this while inventory is down significantly. Of course, it is partly because inventory is down.  Average sold prices are up over 1%, so the positive trend is a great sign for our local economy.  Housing is a key factor affecting all parts of the economy.  When homes are selling for more and taking less time the health of the real estate market is dramatically improved.

It is important to note that mortgage interest rates remain incredibly low.  So if you are considering buying a home or investment, now is still a great time.  You can borrow money cheaper than ever, which helps lower your monthly cost as well as making it easier to qualify.  Just make sure you prepare yourself to purchase since homes will sell pretty quick right now.

If you have had thoughts of selling and these figures look pretty enticing to you, then now really is a great time to make that happen as well.  Again, remember to prepare yourself to sell to make a big difference in the outcome.

I track the statistics from the Denver MLS and provide my readers the latest monthly charts as reported for many of the Denver areas. Here is an example of the latest chart for Highlands Ranch and you can always find the current Highlands Ranch real estate statistics on my site. .  I can provide these for most of the Denver metro area cities as well as help sort out the details rather than just provide a chart. (click the image to view larger)

If you would like help interpreting the home values in your area, please get in touch.  I could be a great match for you and your real estate needs.  I would love to help.

Steve Scheer
720-849-6101
sold@SteveScheer.com

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