Oct ‘21 Market Stats - Denver Metro

October’s market data is in! What you need to know:⁣
𝘓𝘰𝘤𝘢𝘭⁣⁣
🏡 While properties are still closing above asking at 102% of the list price, realities have caught up with expectations. Buyers can be thankful that the extreme bidding wars are less common, that those without 20% to put down have a fair shot at a home and that the continued low interest rates can keep your monthly payments down. If you are a buyer, stick with it!⁣⁣
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📊 There were over three times more single-family properties closed last month in the $500k-$750k category than any other price point. However, currently there are more single-family detached properties available over $1 million than any other price point.⁣⁣
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💸 Apartment List shows rents up %15.8 nationwide, and up 16.6% in Denver year-over-year.⁣⁣
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🚧 The former Sports Authority warehouse in Denver’s Baker neighborhood will become a five-story, 435-unit apartment complex and will include income-restricted units.⁣⁣
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𝘕𝘢𝘵𝘪𝘰𝘯𝘢𝘭⁣⁣
📈 Freddie Mac quoted the 30-year fixed rate at 3.13% on Oct 28th. The 15-year fixed is still an incredible 2.37% - great news for those who can budget the higher payment.⁣⁣
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🗞 More millennials have become homeowners since the pandemic Millennials accounted for the largest share of homebuyers over the past year – 37%, according to Barron’s.⁣⁣
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🛑 Zillow announced it is exiting its business that buys and flips homes and is eliminating 25% of its workforce. Zillow CEO told investors, “We’ve determined that the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.”

📩 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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