August 2021 Market Stats - Denver Metro Area
August’s market data is in! What you need to know:
🌈 While active inventory is historically low for August, there are plenty of opportunities. Colorado continues to have a positive net migration which is benefiting sellers. Buyers continue to benefit from low interest rates and an increase in the days in the MLS. As the fall approaches, we can expect a consistent flow of real estate transactions to continue.
🔥 Realtor.com reports that the Colorado Springs zip code 80916 is the nation’s hottest market for sales.
🗞 As home and property values continue to skyrocket in Denver, we can anticipate the next 10 years of growth to expand into peripheral neighborhoods. Those already seeing steady changes are Regis, Chaffee Park, Sunnyside and West Colfax.
🏢 Downtown Denver’s largest condo project since 2009 is set to break ground. A 461-unit project @ the intersection of 18th and Glenarm Place is soon to begin construction by Vancounver-Canada-based developer, Amacon.
👷♀️ Home construction costs and supply shortages have led to significant price growth for new construction homes, which in turn is giving many prospective buyer sticker shock. A decline in the buyer traffic index is partly to place for August’s 13-month low in builder confidence according to the National Association of Home Builders.
💰 The wealth gap between homeowners and renters continues to widen. The average homeowner’s net worth is $245.9k and the average renter’s is just $6.2k. The average homeowner’s net worth is 𝟒𝟎 𝐭𝐢𝐦𝐞𝐬 greater. Enough is enough. If you are currently renting, it’s time we chat about building your wealth through real estate.
📩 𝘗𝘭𝘦𝘢𝘴𝘦 𝘧𝘦𝘦𝘭 𝘧𝘳𝘦𝘦 𝘵𝘰 𝘤𝘰𝘯𝘵𝘢𝘤𝘵 𝘮𝘦 𝘪𝘧 𝘺𝘰𝘶’𝘥 𝘢 𝘤𝘰𝘱𝘺 𝘰𝘧 𝘵𝘩𝘪𝘴 𝘮𝘰𝘯𝘵𝘩’𝘴 𝘮𝘢𝘳𝘬𝘦𝘵 𝘳𝘦𝘱𝘰𝘳𝘵 𝘰𝘳 𝘪𝘧 𝘺𝘰𝘶 𝘩𝘢𝘷𝘦 𝘢𝘯𝘺 𝘲𝘶𝘦𝘴𝘵𝘪𝘰𝘯𝘴 𝘢𝘣𝘰𝘶𝘵 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵. 𝘏𝘢𝘱𝘱𝘺 𝘵𝘰 𝘩𝘦𝘭𝘱!
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