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No matter your preferences, we have the knowledge to find your match. View featured rental properties in the Denver metro area and throughout Colorado to find a place you can call home. It has over hundreds of miles of bike lanes, several breweries, and many acres of public parks.
Colorado has several major metro areas including Denver, Colorado Springs, Fort Collins, Greeley, and Boulder. Matthew has over 30 years of professional experience both in the U.S. and U.K. When the Federal Reserve slowed bond purchases in 2013, investors were accused of having a “taper tantrum,” and we are seeing a similar reaction today. The Fed appears to be content to watch the housing market go through a period of pain as they throw all their tools at reducing inflation. Our Colorado real estate market data is updated quarterly to aid in your real estate forecasts.
When Will the Housing Market Crash in Colorado?
Today, housing prices are still elevated because the Colorado housing market faces low inventory and strong buyer demand, which puts pressure on the sale prices of homes. Inflationary pressures will likely continue to influence mortgage rates. As a buyer, you should consult real estate professionals, including your lender, to discover how rising mortgage rates affect your purchasing power. If you are prepared, it may make sense to purchase now before the price increases. As a seller, rising mortgage rates motivate some homeowners to move up as quickly as possible. The number of available homes for sale is expected to increase in Colorado.
While Colorado’s market is cooling directly due to rising mortgage rates, the state’s market is resilient. Inventory levels are still low and will remain low until construction levels pick up. While year-on-year growth is still at 5%, Redfin’s data shows a clear downward home sales trend starting May 2022. September’s data showed that Colorado’s median sale price dropped to $549,900 from a high of $596,600, however, this is still at seasonally adjusted record highs. It’s possible that the market dip that seemed to be starting at the start of 2020 is now hitting the state. 2022 has seen the Federal Reserve go to war against out-of-control inflation.
Housing Market Predictions for Next 5 Years
At the same time, the average home price was $694,989, an increase of 7.1 percent year on year. June saw fewer house sales compared to the previous month and June of last year. However, sellers continue to list additional homes for sale, as if they are worried buyers will vanish. The good thing for the Colorado housing market is that home prices are not going down in 2022 and 2023. There is a high demand but low inventory in the Colorado Springs real estate market.
For the eighth month, existing-home sales declined to an adjusted annual rate of 4.71 million. Sales decreased 23.8% from the prior year and 1.5% from August. Also, The median price of an existing home sold increased to $384,800, an 8.4% increase from a year ago.
Colorado resources
The Colorado Association of REALTORS® Monthly Market Statistical Reports are based on data provided by Multiple Listing Services in Colorado. These reports represent all MLS-listed residential real estate transactions in the state. The metrics do not include “For Sale by Owner” transactions or all new construction. Moving Proz is a family-owned and operated, professional, residential, and commercial moving company serving Kansas City, Denver, and surrounding areas. They are an SBA-certified woman-owned and operated member of the AMSA with an A+ BBB rating.
The length of time it took to sell a home rose across the board compared to the same quarter a year ago. Inventory levels jumped 73.1% in the third quarter, which is significant even though it is a slower pace of growth than occurred between the first and second quarters. As a result, the monthly mortgage payment will remain high, and homes may look less affordable. This indicates that the rate of existing home sales has slowed to its lowest level in 10 years.
The Fort Collins area is another great market to invest in real estate. The area is growing both as an outer suburb of Denver and for its reasons, making it the fourth-largest city in the state. The city offers an ideal mix of jobs, affordable living, and a decent quality of life that will keep it strong for years to come. Not just limited to Denver or Colorado but you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience.
Our list-to-sale price is typically 4% above the market average, and our listings spend 23 fewer days on the market while attracting three more offers than comparable properties. To our family of agents, Colorado Is Home, and we want to help you make it yours! Whether you’re a first-time homebuyer or a real estate pro, purchasing a new home is a big decision.
Boulder doesn’t get the recognition that Denver does, but its popularity continues to grow. College students often choose to stay in the city while studying. In 2015, Colorado saw a staggering population increase by nearly 100,000 people . Around six other states had compatible growth during that decade. However, 2021 only saw a population growth of around 27,000 people. Colorado is almost as landlord-friendly as Arizona and Texas, but it is far more landlord-friendly than Nebraska, Kansas, or any West Coast state.
Colorado is the third best state in the U.S. for those seeking low property taxes. The moving services professionals behind Moving Proz offer insights into the housing market and forecasts toward growing cities in Colorado. Here are the ten neighborhoods in Colorado Springs having the highest real estate appreciation rates since 2000—List by Neigborhoodscout.com. Good cash flow from Colorado Springs investment properties means the investment is, needless to say, profitable.
REALTORS® from the northernmost Colorado counties are still seeing the same number of listings despite other areas of the state, according to October’s Market Trends reports. Statewide, the number of new listings dropped 20% from September to October 2022. The number of days on the market is taking longer, however, the average... Whether someone is staying for a week for a convention or working a contract job in the tourism industry, this drives demand for short-term rentals that can be incredibly profitable. Renting on sites like Airbnb is legal if you have a business license, though around half of the Airbnb rentals are thought to be violating that rule. Denver is particularly progressive in allowing people to rent out their homes and apartments on Airbnb, though landlords may not agree with it.
Young professionals are also choosing to call Boulder home for work purposes. Which provides opportunities for townhome rentals, houses, apartments, and general resell value. Boulder has an active buyer’s market and prices will most likely climb in 2022. Millennials prioritize homes in walkable areas with access to public transit, but they value practical, usable homes oversize. This means well-designed condos and duplexes in the right areas are as attractive to them as a large house in the suburbs.
Colorado Is Home - From Our Colorado Home to Yours
It’s a bustling city surrounded by nature and makes a great option for those settling down and tourists alike. Currently, Colorado Springs is experiencing a buzzing seller’s market. The construction of thousands of Colorado homes is planned for this year. New homes will add to the overall inventory, but don’t expect prices to lower in the coming years. Colorado home prices are expected to rise even further in 2023.
The population shift that occurred during the Pandemic pushed the prices of the Colorado housing market to new levels. Driven by high demand and low inventory, the median sales price rose 43% between March 2020 and April 2022. If the mortgage rates continue to rise and houses stay on the market for longer, the real estate market value will continue to fall. Mortgage Interest rates significantly impact the current Colorado real estate market. These rates have priced many buyers out of the market as they’re at record highs in more than 20 years. Our clients receive a customized marketing approach tailored for their home.
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