Denver Metro Housing Market Shows Seasonal Cooling in July 2024

Seasonal Slowdown: July often brings a slight cooling to the Denver Metro housing market, as the Independence Day holiday and summer vacations take precedence for both home buyers and sellers. This year was no different. The number of home closings in July saw a slight decline compared to last year, down by 1% from the previous month. However, the median closed price for homes held steady at $600,000, reflecting a 2% increase from last July and no change from June.

New Listings Continue In July: One of the standout trends this July was the rise in new listings. Sellers added 11% more listings to the market compared to the same time last year, although this number was 7% lower than in June. This steady influx of new listings has pushed standing inventory levels to their highest in a decade, with 10,541 homes actively for sale in the REcolorado MLS at the time of the data pull.

Market Watch Full Report July 2024

Pending Sales: Despite the increase in inventory, the number of listings pending sale in July was 4% higher than last year and marginally up from the previous month. However, as more homes become available and demand wanes, buyers are taking longer to make decisions. In July, it took a median of 16 days for homes to move from active to pending status, which is a week longer than the same time last year.

Activity By Price Range: The market's most active price range in July was $500,000 to $600,000, with 728 closings and 1,016 new listings. Homes in this price range typically spent a median of 16 days on the market. The $1 million to $2 million price range also saw notable activity, with 401 closings and 575 new listings, and homes were available for a median of 17 days.

Recap: Overall, the Denver Metro housing market experienced a typical summer slowdown in July. While inventory levels have risen significantly, providing more options for buyers, the market remains stable, with prices holding steady and slight increases in pending sales. As we move forward, the market may see renewed buyer interest, especially if mortgage rates continue to drop.

July 2024 Metro Denver Real Estate Snapshot

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Exciting News For Parker Residents: A New Whole Foods Market is Coming!

Update October 5th 2025: 

GRAND OPENING IS SET FOR OCTOBER 9TH 2025 AT 8:00AM!

Exciting progress continues at the future Parker Whole Foods Market! The buzz around town is building as we see significant milestones achieved. The exterior is taking shape beautifully, with the iconic signage now in place. Imagine the convenience of pulling into the newly paved parking lot, grabbing a cart from the already installed corrals, and enjoying the fresh landscaping taking root. While the exterior is nearing completion, the interior transformation is now underway, with the much anticipated grand opening happening on October 9th 2025. Store Hours are 8:00am - 9:00pm  . Stay tuned for more exciting updates as they unfold – we know this addition will be a fantastic asset to our community!

As Parker, Colorado continues to grow, residents can look forward to a significant addition to their community this summer. Whole Foods Market, the popular health-focused grocery store, is set to open a brand-new 40,000 square foot facility at the corner of Cottonwood Drive and Kings Point Way, right across from Costco. This new store is sure to become a central hub for food enthusiasts and health-conscious shoppers in Parker and the surrounding areas.

A Welcome Addition to the Neighborhood

Whole Foods Market is renowned for its commitment to quality, offering an extensive selection of organic, non-GMO, and locally sourced products. The new Parker location promises to bring a fresh and vibrant shopping experience, featuring everything from fresh produce and responsibly sourced meat and seafood to an impressive selection of prepared foods and baked goods.

What to Expect

The 40,000 square foot facility will offer an array of amenities and features designed to enhance the shopping experience:

• Fresh Produce Section: Expect an abundant selection of organic fruits and vegetables, with a strong emphasis on locally sourced items.
• Specialty Departments: A full-service meat and seafood counter, a vast selection of cheeses, and a bakery offering freshly baked bread and pastries.
• Prepared Foods: A hot bar, salad bar, and a variety of ready-to-eat meals that cater to all dietary preferences, including vegan, vegetarian, and gluten-free options.
• Wellness and Beauty: A dedicated section for health and beauty products, featuring natural and organic options.
• Community Engagement: Whole Foods Market is known for its community involvement, so keep an eye out for events, cooking demonstrations, and partnerships with local farmers and producers.

Benefits for the Parker Community

The arrival of Whole Foods Market in Parker is more than just a new place to shop; it represents a commitment to the well-being and prosperity of the local community. Here's how this new store will benefit Parker residents:

• Economic Boost: The new store will create numerous job opportunities, from entry-level positions to management roles, contributing to the local economy.
• Convenience: Located at the corner of Cottonwood Drive and Kings Point Way, right across from Costco, the store is easily accessible, making it a convenient addition to your shopping routine.
• Sustainability: Whole Foods Market’s focus on sustainability and ethical sourcing aligns with the values of many Parker residents, promoting a healthier lifestyle and a more environmentally conscious community.

Mark Your Calendars

The grand opening is expected for the fall of 2025, and Whole Foods Market is planning an exciting lineup of events and promotions to celebrate. Whether you're a long-time fan of Whole Foods or new to their offerings, this is an event you won't want to miss.

Stay tuned for more updates as the opening date approaches, and get ready to explore everything the new Whole Foods Market in Parker has to offer. This addition to our community is sure to enrich our shopping experience and support our commitment to healthy, sustainable living.

Denver Housing Market Update: June 2024

The Denver housing market showed signs of a slowdown in June, according to REcolorado MLS data. While buyer activity remained steady with a slight increase in signed contracts from last year, the number of homes sold dropped by 12% compared to both June 2023 and May 2024.

New Listings and Market Activity: In June, 5,750 new listings were added to the market, a 6% increase year-over-year, although the month-to-month pace decreased by 15%. Homes stayed on the market longer, with a median of 13 days, six days more than last year. Buyer activity saw a slight uptick, with 4,132 contracts executed, 1% more than last year and 4% more than last month. The median closed price remained stable at $600,000.

Market Conditions: January to June: From January to June, there was a 15% increase in new listings compared to the same period last year. Despite this increase, the number of closings was down by 3%, indicating growing inventory and a more balanced market. Higher home prices and rising interest rates have caused some buyers to take a more cautious approach.

Rental Market Insights: In June, 310 properties were leased using REcolorado MLS, 16% fewer than in June 2023. The median leased price was less than 1% higher than last year. Throughout the month, 487 new rental listings were added, and there were 603 active rental properties available, a 15% increase from the previous month.

Price Range Dynamics: The only price range that saw an increase in closed listings compared to June 2023 was the $1-2M range, which had a 21% increase in new listings. Conversely, the $500-600K range saw the largest decrease in new listings. Homes priced between $800K and $1M spent the least amount of time on the market.

Market Watch Full Report June 2024

Standing Inventory: The number of active listings at the end of June was 68% higher than last year, with 9,912 homes available for sale. This significant rise in inventory suggests a potential cooling-off period for the previously seller-dominant market. The gross sales volume in June was 10% lower than last year.

Conclusion: The Denver Metro housing market is transitioning towards a more balanced landscape. While buyer activity remains healthy, the significant rise in inventory suggests a potential cooling-off period. As we move into the second half of the year, it will be interesting to see how these trends continue to evolve.

June 2024 Metro Denver Real Estate Snapshot

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Discover The Charm of Philip S. Miller Park in Castle Rock

Nestled in the picturesque town of Castle Rock, Philip S. Miller Park stands as a testament to community spirit and outdoor adventure. This expansive park, covering 300 acres, offers an array of activities and amenities that cater to families, fitness enthusiasts, and nature lovers alike. Whether you're considering moving to Castle Rock or already call it home, Philip S. Miller Park is a gem worth exploring.

A Hub for Outdoor Recreation

Philip S. Miller Park is a haven for those who love the great outdoors. The park's crown jewel is the Miller Activity Complex (MAC), a state-of-the-art facility that includes an indoor pool, trampoline area, and a full-sized synthetic turf field. The MAC is perfect for year-round activities, providing a space where residents can stay active regardless of the weather.

For those who prefer outdoor adventures, the park offers over eight miles of trails. These trails, suitable for hiking, biking, and running, wind through scenic landscapes, providing breathtaking views of Castle Rock's natural beauty. The challenge trail features a series of outdoor exercise stations, making it easy to combine a workout with a nature walk.

Fun for the Whole Family

Philip S. Miller Park is designed with families in mind. The park features a unique playground, The Castle Rock Adventure Playground, which is a hit with kids of all ages. This playground, inspired by the town's namesake, includes slides, climbing structures, and interactive play elements that encourage imaginative play and physical activity.

The park is also home to the Epic Sky Trek, an aerial adventure course that offers a thrilling experience for adventurers of all skill levels. With over 100 elements to navigate, including zip lines and rope bridges, the Epic Sky Trek provides hours of fun and excitement.

Community Events and Gatherings

One of the standout features of Philip S. Miller Park is its ability to bring the community together. The park hosts a variety of events throughout the year, including outdoor concerts, movie nights, and seasonal festivals. The amphitheater, with its stunning backdrop of the Rocky Mountains, is a popular venue for these events, offering a unique setting for residents to gather and enjoy live entertainment.

Additionally, the park's pavilions and picnic areas are perfect for family gatherings, birthday parties, and community celebrations. With ample seating and convenient amenities, these spaces make it easy to host an event while enjoying the park's beautiful surroundings.

An Investment in Castle Rock's Future

Philip S. Miller Park is more than just a recreational area; it's an investment in the future of Castle Rock. The park enhances the quality of life for residents, making the town an even more attractive place to live. Its well-maintained facilities and diverse offerings reflect the town's commitment to providing exceptional amenities for its community.

For potential homebuyers, the proximity to such a vibrant park can be a significant selling point. Living near Philip S. Miller Park means easy access to a plethora of activities and a strong sense of community. It's a place where families can create lasting memories, and individuals can find endless opportunities for recreation and relaxation.

Conclusion

Philip S. Miller Park is a cornerstone of the Castle Rock community, offering something for everyone. From its extensive trails and adventure playground to the community events and the state-of-the-art Miller Activity Complex, the park is a testament to the town's dedication to outdoor recreation and community engagement. Whether you're visiting for the day or considering making Castle Rock your home, Philip S. Miller Park is a destination that showcases the best of what this charming town has to offer.

Explore, play, and connect at Philip S. Miller Park – where adventure and community come together in the heart of Castle Rock.

More Inventory Means More Choices For Home Buyers 

As the summer heat rolls in, so does an increase in Colorado's housing inventory. The Denver real estate market is currently booming with over 9,100 active listings, marking a significant 75% rise from the same period last year!

Despite this surge in available homes, the number of properties going under contract and closing is keeping pace with last year's figures. This steady supply growth is fantastic news for buyers and their agents, offering more housing options and potentially better affordability in the near future.

If you have been thinking of buying a home but grew frustrated with the lack of inventory, now is the time to resume your home search. Contact us today!   

Step-By-Step Guide to Having Your Roof Inspected and Replaced After Hail Damage 

It's that time of year and Colorado hailstorms can cause significant damage to your roof, leading to costly repairs or even the need for a complete replacement. If you're a homeowner dealing with hail damage, here’s a step-by-step guide on how to navigate the process of having your roof inspected and replaced by your insurance company.

1. Assess the Damage

Immediately after the hailstorm:

• Safety First: Ensure your property is safe to inspect. Look for loose shingles, broken tiles, and other visible damages from the ground.
• Document the Damage: Take clear, detailed photos of the roof and any other affected areas. This will be crucial evidence for your insurance claim.
• Check for Leaks: Inspect your attic and ceilings for any signs of water intrusion.

2. Contact Your Insurance Company

Notify your insurance company:

• File a Claim: Call your insurance company’s claims department to report the damage. Provide them with details of the damage and the date and time of the hailstorm.
• Claim Number: Get a claim number for reference and write it down for future communications.

3. Hire a Professional Roofer

Find a reputable roofing contractor:

• Local Experts: Choose a roofer who is experienced in hail damage and familiar with local building codes and regulations.
• Estimates: Get multiple estimates to understand the extent of the damage and the cost of repairs or replacement.
• Licensed and Insured: Ensure the contractor is licensed and insured to protect yourself from liability.

4. Schedule an Inspection

Arrange for inspections:

• Insurance Adjuster: Your insurance company will send an adjuster to inspect the damage. Make sure to be present during the inspection.
• Roofer’s Inspection: Have your roofing contractor present during the insurance adjuster’s visit to ensure all damages are accurately assessed and documented.

5. Review the Insurance Estimate

Compare estimates:

• Insurance Estimate: Review the estimate provided by the insurance adjuster.
• Roofer’s Estimate: Compare it with the estimate from your roofing contractor to ensure all necessary repairs are included.
• Discrepancies: If there are discrepancies, your roofer can help negotiate with the insurance company to get a fair settlement.

6. Repair or Replace the Roof

Proceed with the work:

• Approval: Once the claim is approved and you receive the payout, you can schedule the repairs or replacement.
• Contract: Sign a contract with your chosen roofing contractor outlining the scope of work, materials to be used, and the timeline.
• Permits: Ensure all necessary permits are obtained before starting the work.

7. Final Inspection and Payment

Complete the process:

• Final Inspection: After the work is completed, inspect the roof to ensure all agreed-upon work has been done to your satisfaction.
• Payment: Make the final payment to the roofing contractor. Your insurance company may require proof of completion before releasing the final payment.
• Documentation: Keep all receipts, contracts, and documentation for your records.

8. Prevent Future Damage

Take preventive measures:

• Regular Maintenance: Schedule regular roof inspections and maintenance to keep your roof in good condition.
• Impact-Resistant Materials: Consider upgrading to impact-resistant roofing materials to minimize future hail damage.

Following these steps can help ensure a smooth process when dealing with hail damage and working with your insurance company to replace your roof. Remember, thorough documentation and choosing the right professionals are key to a successful claim and repair experience.

Denver Metro Housing Market Offers More Options and Higher Prices For Buyers 

Exciting news for home seekers in the Denver metro region! The housing market is showing signs of improvement with a surge in available homes for sale.

April witnessed a notable increase in new listings, with a remarkable 6,095 homes entering the market. This marks a 26% surge compared to April 2023 and a substantial 22% increase from the previous month alone! This positive trend extends over four consecutive months, and year-to-date data for 2024 indicates a 15% uptick in new listings compared to the same period last year.

For buyers, this translates into a wider selection. With a total of 7,730 active listings at the close of April, this represents the highest inventory level since October 2019. This abundance means you're more likely to find a home that fits your criteria.

Despite the increased options, buyer demand remains robust. Home sales are climbing, with 3,837 closings in April across the 11-county metro area. This marks a slight uptick from the previous year and the third consecutive month of rising closings.

On the pricing front, buyers are facing higher costs. The median closed price for homes in the Denver area surged to a record high of $602,000 in April, a 4% increase from April 2023 and 1% higher than March 2024.

Another promising sign is the growing number of pending sales listings. This figure rose by 7% from March to April, following a substantial 27% increase from February to March. Pending sales listings serve as a leading indicator for future closings, indicating a potential continuation of strong sales activity in the coming months. Homes spent a median of 9 days on the market in April, one day longer than last year but 3 days quicker than the previous month.

Market Watch Full Report April 2024

Additionally, the number of properties leased using REcolorado MLS saw a slight dip compared to April 2023 but was 20% higher than the previous month. The median rental price also experienced a modest 2% increase year-over-year. To meet growing demand, 412 new rentals were added to the market in April, marking a 20% increase from the preceding month.

The Denver metro housing market continues to evolve, offering both opportunities and challenges for buyers and renters alike. Stay tuned for further updates on this dynamic market!

April 2024 Metro Denver Real Estate Snapshot

Curious about what’s happening in your neighborhood? 
You can create a custom market report to see all active, under contract, and sold homes within your neighborhood! 

Considering selling or refinancing your home? Get an INSTANT property valuation now!

We're here to serve all your real estate needs. Contact us today

Denver Metro Housing Market: March 2024 Update

The Denver metro housing market is on fire, maintaining its hot streak throughout March as strong buyer demand continues to drive up sales and prices. Let's dive into the latest trends shaping the real estate landscape across the Denver Metro Area. 

Competition Heats Up

Buyer enthusiasm remained high, evident in the 8% increase in new contracts signed in March compared to the previous year. The numbers surged even more impressively by 33% from February, indicating a bustling spring season ahead. This surge in "homes pending sale" acts as a leading indicator, hinting at robust future closed sales.

Buyers are moving swiftly, with homes spending a median of just 12 days on the market in March—almost two weeks faster than February. This rapid pace underscores the growing urgency among buyers to secure properties before they vanish from the market.

Denver Housing Market Shows Signs of Spring Activity

As we edge closer to spring, the Denver Metro housing market is already buzzing with activity, hinting at a robust buying and selling season ahead. With households hopeful for potential decreases in mortgage rates, optimism fills the air. Here's a closer look at the recent trends shaping the market:

Increased Inventory and New Listings 

Inventory levels in February surged, marking a significant 25% increase compared to the previous year. Remarkably, this uptick represents a staggering 176% rise from two years ago, largely fueled by proactive sellers bringing listings to the market. Data from REcolorado reveals a consecutive month of double-digit increases in New Listings, with sellers introducing 4,267 homes to the market.

Rising Demand and Prices

February saw both year-to-year and month-to-month increases in home closings, propelled by strong demand. Consequently, closing prices experienced an upward trajectory, with the median closed price reaching $575,000, a 3% increase from the same period last year. Homebuyers were notably active, executing contracts on 3,454 home listings throughout the month.