Seasons Market Shift: What You Should Know for the New Year

Friday, December 16th, 2016

The New Year is often the best time to start new ventures. If one of your resolutions this year is to sell your home or property, here are some market shifts you will want to be aware of before contacting a listing agent.

2017 real estate trends, market, prediction, new year

  1.   Analysts see a recession occurring in 2017

According to Yahoo Finance,  a group of surveyed market analysts agreed that the real estate sector should be a little pessimistic about the economy in the near future. They say this is primarily caused by global uncertainty, leading investors to turn away from U.S. real estate. In this tricky environment, it’s important to know exactly how to approach the market; Alaris Properties would be happy to help you navigate stormy waters.

  1.   Housing market is already near pre-recession peak

Home prices have continuously posted steady year-over-year gains, accumulating into near pre-recession highs over a 53 month period. The median price for single-family homes is around $226,000—a 7% increase from 2015. This will eventually cause market normalization and stagnate price growth.

2016: A Good Year for Job Seekers

Monday, February 8th, 2016

This new year should be a good year for job seekers.

According to a new WalletHub report that analyzed 150 of the nation’s most populated cities for their job market and socioeconomic environment, Denver is in the top 15 best cities to find a job in 2016.

Alaris Properties, Denver Real Estate, 2016 Denver Real Estate, Home Foreclosures, Luxury Mountain Real Estate, 2016 Denver Job Growth

Here were the categories look at:

  • Job Opportunities
  • Employment Growth
  • Monthly Median Starting Salary
  • Unemployment Rate
  • Industry Variety
  • Full-Time Employment
  • Percentage of Employed Residents Living Under the Poverty Line
  • Disability Friendliness
  • Median Annual Income
  • Time Spent Working & Commuting
  • Benefits
  • Housing Affordability
  • Annual Transportation Costs
  • Safety

Click here to see the full report.
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2015: Home Values and Rent Prices

Monday, February 1st, 2016

Home values in Denver grew more quickly than anywhere else in the country for ten straight months.

Alaris Properties, Denver Real Estate, 2016 Denver Real Estate, Home Foreclosures, Luxury Mountain Real Estate, 2015 Denver Real Estate Stats

According to Zillow, home values in Denver have appreciated 15.5 percent over the past year, to a median estimated value of $318,000. REColorado, the local MLS, indicates that the median single family home value is $364,000 as of December 31, 2015.

​The total home value in Denver grew more than $39 billion to $347 billion, up more than 12 percent over the past year.

Across the nation, home values in the largest 35 markets have increased only 3.9 percent over the past year through November.

Zillow’s tracking of rent prices shows that annual rent increases in Denver have slowed to a single-digit growth rate, down to a 9.7 percent annual increase.

Denver renters paid $5.8 billion in 2015.

Meet the Alaris Team to find out about our deep investment in this unique city, and be sure to follow us on Facebook, we will keep you up-to-date on the real estate trends and news.

The Opportunity to Invest is Here

Monday, December 14th, 2015

Top-Appreciating-Real-Estate-Markets

Don’t forget that Denver’s residential real estate prices this year have outpaced most of the rest of the country and we anticipate that market trend to continue.

Now, according to a new study done by BiggerPockets, Denver ranks second in the nation when it comes to providing the best returns on residential real estate.

If you’re looking to invest, the opportunity is here. As the report affirms, ”Denver takes the number two spot, with gains driven largely by the strongest appreciation in home values of any major market studied over the period. Residential real estate prices increased a staggering 13.4 percent year over year across the Denver metro region.”

Only Dallas offers better returns. Following Dallas and Denver are Miami, Houston, Atlanta, Tampa, Detroit, Austin, Las Vegas, and Orlando. Click here to see the full report.

Meet the Alaris Team to find out about our deep investment in this unique city, and be sure to follow us on Facebook. We are here to serve all your real estate needs and look forward to assisting you in your next real estate transaction.

A Look Back at 2015

Thursday, December 10th, 2015

In 2015, we saw the average monthly inventory decrease and the average home price increase. This has been a trend for the past couple years. Here are some statistics for 2014 and 2015 in a few selected areas:

INVENTORY 2014 Average Inventory 2015 Average Inventory Percentage Decrease
Denver 1,698 1,922 22%
Jefferson 1,405 1,252 11%
Park 321 255 21%
Clear Creek 110 75 32%
Gilpin 54 43 21%

 

SALES PRICE 2014 Average Sold Price 2015 Average Sold Price Percentage Increase
Denver $273,675 $320,612 15%
Jefferson $274,745 $315,999 14%
Park $222,088 $256,159 14%
Clear Creek $235,537 $296,140 21%
Gilpin $265,282 $291,377 9%

Third Quarter Update

Monday, November 23rd, 2015

Untitled design (6)According to RealtyTrac, sellers in Denver County in the third quarter sold their homes for an average price gain of 41.5 percent over what they originally paid.

Denver County is 6th in the country for highest percentage sales gains.

Nationally, homeowners who sold during the third quarter saw an average price gain of 17 percent from the purchase price of their property.

The average price of a home, including both detached single­family houses and condominiums, was $363,718 in October, 12.4 percent higher than in October 2014 when the average price was $323,714.

Active home listings increased by 6 percent year­over­year. October saw 7,156 active listings in 2015, compared with 6,748 last year.

Homes were on the market 16 percent fewer days on average. Homes stayed on the market 31 days in October, compared with 37 days last year.

From September to October, average home prices increased 2.6 percent as the seasonal slowdown that occurs during winter months continued.

Key Statistics

Thursday, November 19th, 2015

Untitled design (5)The Denver housing market remains among the hottest in the country. Here are some key recent statistics:

1. The average price of a single-­family house in metro Denver climbed another 11 percent year­-over-­year in September to $398,591.

2. The number of single-­family houses sold in September was 3,509, a 0.11 percent decrease from the same month in the prior year, when 3,513 homes were sold. This slight decline could indicate some easing of the demand that has fueled the pace of Denver’s housing market.

3. There were 12 percent more new listings on the market than a year ago. In September, 4,247 new listings were on the market, compared with 3,768 last year. This increase in inventory is badly needed, where high demand kept inventory low for most of the summer.

4. The average time on the market for houses in metro Denver dropped to 30 days from 35 days one year ago, an indication that homes on the market are going faster than they were last year.

Foreclosures: Colorado Contrasting the Nation

Tuesday, November 17th, 2015

Untitled design (4)According to RealtyTrac’s latest Foreclosure Market Report for Colorado, one in every 733 houses are in foreclosure, a 15 percent decrease from the same time last year.

Colorado had a 17 percent decrease in the number of foreclosure filings (the first stage of the foreclosure process) from the second quarter of 2015 and a 15 percent decrease from the same time last year.

This is quite a contrast to the national trend where foreclosures saw a 3 percent increase from this time last year.

Across the country, there was a total of 327,258 U.S. properties with foreclosure filings in the third quarter of 2015, which is down 5 percent from the previous quarter but up 3 percent from the third quarter of 2014.

The annual increase nationwide in the third quarter marked the second consecutive quarter where U.S. foreclosure activity increased on a year-­over-­year basis following 19 consecutive quarters of year-­over-­year decreases.

Denver’s Economic Growth

Thursday, November 12th, 2015

UntitledAccording to a new report by the federal Bureau of Economic Analysis, Denver’s economy grew at a pace of 6.5 percent last year, which is nearly triple the average rate of the nation’s metro areas.

The Denver metro area (including Aurora and Lakewood) had a gross domestic product (GDP), which measures the total output of goods and services in a given area, of $187.1 billion in 2014,

which ranked Denver 18th for year­over­year growth out of 381 metropolitan areas ranked in the analysis.

At 6.5 percent, the growth in the GDP for metro Denver during 2014 is significantly higher than the GDP for U.S. metro areas, which was at 2.3 percent in 2014. Click here to see the full report.

Check out Alaris Properties, LLC, where we take the worry out of buying and selling real estate, and make the entire experience enjoyable.

 

(Image via the Bureau of Economic Analysis)

Millennials Outnumber Baby Boomers

Wednesday, September 30th, 2015

Two couples outdoors smiling

According to the U.S. Census Bureau, Millennials outnumber Baby Boomers for the first time. Nationally, the number of millennials totals 83.1 million, representing more than a quarter of the nation’s population. Baby Boomers represent 75.4 million.

In Colorado, millennials (ages 20 to 34) number 1,107,469, compared to Baby Boomers (ages 55-74) which number 958,289.  

In Denver, millennials account for 176,458 of the population, while Baby Boomers make up 99,095 of it.

They’re also the workforce’s largest age group, which means that local leaders see attracting millennials as more important than ever before.

Simultaneously, however, millennials are being priced out of housing in metro Denver, a major point of concern for the state’s continued growth and economic expansion.

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