METRO DENVER REAL ESTATE MARKET HAPPENINGS!
Sterling Real Estate Group is is an independently owned real estate company, located in Lakewood, Colorado. Our real estate agents bring years of experience in real estate, business and customer service. We specialize in serving many of the Metro Area Denver and Aurora neighborhoods, as well as the cities of Lakewood, Littleton, Golden, Highlands Ranch, Centennial, Parker and Castle Rock. Our agents focus on the sale and purchase of residential properties as well as multi-family, rentals and fix&flip investments. We also have many agents who are very familiar with purchasing investment properties through your Self-Directed IRA, as well as if applicable, the ability to use Reverse Mortgages to purchase a home. Our goal is simple: To provide superior service to our clients while promoting a positive atmosphere for our Realtors.
Denver Colorado Home Trends
Seller Trends: Where do we begin? With the State of Colorado and the country in various stages of Covid19 lockdown, the Denver Metro real estate market is still humming along. As of September, 2020 there were 4,570 Active listings in the *Greater Metro Denver area, which is 46% fewer homes than the same time last year. There were 6,672 homes pending and a total of 5,828 that actually sold for the month of September at an average sales price of $486,740. Year over year, that was an increase of 26.45% properties sold and an increase of 9.55% for the average sales price. The number of active homes were comprised of 2,513 single family properties and 2,057 attached (condos and townhomes) properties. The days on market obviously decreased as well, with the limited supply and that is now averaging only 23 days, another substantial decrease, year over year. In general, Denver County has the highest inventory levels at 1.6 months, while the average for all counties is down to 0.9 months. Lower inventory means higher prices and that remains true, even during a pandemic. The average sales price for a detached single family home is $591,815, with Adams County coming in the lowest at $441,724. For attached single family properties, the average sales price for the month of September was $381,665, again Adams County trailing at $302,902. Denver County leads in average price for both detached and attached homes at $684,433 and $467,668 respectively. Until inventory levels begin to increase, you can expect prices and competition for homes to continue to increase.
*Greater Metro Denver Area includes the following counties: Denver, Douglas, Elbert, Jefferson, Adams, Arapahoe and Broomfield.
Good news for Buyers: For Buyers, the good news is that interest rates are at record lows. Most are hovering around 3.5% depending on credit scores, down payment and length of the loan. There is still quite a bit of competition for homes priced under $500,000 with multiple offers and bids over asking. Average days on market under that $500,000 threshold is less 10 days. Actually, there isn't much good news for buyers, but have your agent keep an eye out for homes that fall due to inspection or appraisal issues. You might just get lucky!
At Sterling, our real estate agents are encouraged to explore various options in the marketing, financing, and selling of your home. We understand there is more than just one way to sell real estate. Therefore, we strive to provide a variety of tools, techniques and concepts to assist our realtors in creating and implementing the best marketing plan available to help you accomplish your real estate goals, while keeping your needs and your home specifically in mind. Can your current mortgage rate be assumed? Will it make a difference to close at the beginning or end of the month? Should I paint and get new carpet, or just offer an allowance? Are there tax consequences if I sell before two years is up? All good questions that could make a difference for a seller and why you need a professional and qualified Realtor. At Sterling, all of our real estate agents are required to pursue continuing education on a yearly basis to keep abreast of the most effective and cutting edge marketing and sales techniques in order to knowledgeably answer all your questions and to get your home sold in the shortest amount of time and for top dollar.
Our goal is to provide our home buyers with friendly, knowledgeable and personal service. Our Realtors are highly trained and experienced in assisting buyers in a wide variety of purchases, from HUD homes, foreclosures, short sales, new construction, as well as your standard listing. Many of our agents also specialize in the purchase of property through Self-Directed IRA's and when applicable, through the use of Reverse Mortgages. Whether your are looking to do fix&flips or fix&holds through your IRA, or use a Reverse Mortgage to purchase a home without making monthly mortgage payments, we can help guide you through the process. Our real estate agents have a comprehensive understanding of the various neighborhoods and market conditions within those areas and enthusiastically relay that knowledge and expertise to their buyers, making the buying experience a pleasant and informative one.
Spectra Mortgage was founded with the philosophy that a mortgage company should provide sound financial advice in the area of mortgage financing and that the people providing this service should be professionals. They believe that the key attributes that distinguish Spectra Mortgage from the others are Financial Expertise, Integrity, and Service.
Spectra Mortgage Corporation originates mortgage loans and provides mortgage services in connection with the acquisition or refinancing of owner occupied and investor owned single family, multi-family, and commercial property. They are also trained and can give sound advice with regard to Reverse Mortgages. Despite all the negative and false information regarding Reverse Mortgages, they can actually be used as a great financial planning tool. If you need help with a mortgage, or just have questions about your credit, contact Spectra Mortgage. They are located in Lakewood, Colorado and provide mortgage financing and mortgage services throughout Colorado. For additional information check out their website at: www.spectramortgage.com.
Relocating to Denver
Sterling Real Estate Group and all of our real estate agents want to welcome you to our fabulous city of Denver, Colorado, one of the country's most enviable places to live and work. Whether you are looking for panoramic views of the majestic Rocky Mountains, the nation's largest public park system, or 300 days of sunshine a year, Denver and her surrounding communities is the place for you. If you are relocating to the Denver area and in the market for a new home, we hope you'll find this site both informative and helpful. Feel free to use our Denver Metro IDX site to find your perfect home and when you are ready, please feel free to call or email if you have any questions or would like to see any of the fabulous homes available!