Category Archives: Denver Real Estate Market

Available Inventory of Single Family Homes Trending Lower

Posted on October 19, 2011 by Mitch Shannon

In the midst of challenging economic times, an interesting trend has been developing in the Metro Denver residential real estate market, over the last year.  The supply of available homes in the metro area has been steadily declining.  Year over year comparisons, between 2010 and 2011, show a consistent reduction in the available inventory of single family homes (graph A), since January 2011. Equally compelling is the sold rate of single family properties, in 2011, when compared to the sold rate, in 2010 (graph B).  When analyzing the volume of sold houses between 2010 and 2011, it is evident the Home… Read More »

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Denver Metro Rental Vacancies Fall to 2.6 Percent – September 27, 2011

Posted on September 27, 2011 by Mitch Shannon

According to the latest report from the Colorado Division of Housing, the overall vacancy rate of residential properties in the Denver Metro area has dropped to a historic low of 2.6%, in the second quarter of 2011.  The current vacancy rate of 2.6% is lower than the second quarter of 2010′s vacancy rate of 3.8%.  Additionally, the average days on the market fell from the second quarter of 2010, of 47.2 days, to an average of 15.7 days during the same time period in 2011.  While the rental market continues to tighten, residential rental rates have not yet seen a… Read More »

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Metro Denver Residential Inventory Decreases by 16% – June 17, 2011

Posted on June 17, 2011 by Mitch Shannon

From the statistics compiled by Denver MetroList (MLS), the month of May 2011 shows some very positive signs. The overall inventory of single family homes, residential and condos, has dropped over 16% compared to inventory levels in May 2010.
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Historic Lows Create an Excellent Time to Buy an Investment Property – June 2, 2011

Posted on June 2, 2011 by Mitch Shannon

A real estate investor’s “perfect storm” is emerging in the Denver Metro area.  With historic low interest rates and historic low vacancy rates, combined with a significant market adjustment in residential real estate prices, real estate investors are presented with a near perfect opportunity.  From an article by John Rebchook, current metro vacancy rates are hovering around 1.4% with an average of just under 30 days on the rental market, to find a renter.  Equally important mortgage interest rates are at historic lows, even for investor financing.  Investors with 20-25% down are able to cash flow their rental properties right… Read More »

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More Buyers Sign Contracts in February – March 28, 2011

Posted on March 28, 2011 by Mitch Shannon

The National Association of Realtors reports more buyers wrote contracts to purchase homes in February.  The National Pending Home Sales Index rose 2.1% in February.  Regionally, the index rose 7.0%, in the West, which was 0.6% higher than in February 2010.  According to Lawrence Yun, National Association of Realtors Chief Economist, “Pending home sales have trended up very nicely since bottoming out last June, even with periodic monthly declines.”  June 2010 was the lowest point in the index due to the expiration of the Home Buyer Tax Credit.   Locally, the Metro Denver real estate market remains mixed.  Some metro markets are seeing… Read More »

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Colorado Foreclosures are Down in 2011 – March 23, 2011

Posted on March 23, 2011 by Mitch Shannon

Foreclosure filings and sales at auction are down in 2011, according to a report from the Colorado Division of Housing released last week.  February’s year-over-year comparison between 2010 and 2011 foreclosure filings are down 34.7 percent.  Foreclosure sales, or sales at auction, were also down 19.6 percent.  While some experts believe the large year-over-year drop in February can be attributed to a nationwide slow down of banks and mortgage companies’ foreclosure process, the overall trend is still moving downward.  Most of the Metro Denver counties decreased in the number of foreclosure filings and sales, as well.  Home foreclosures are still… Read More »

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Local Federal Reserve Economist Speaks at Real Estate Summit – March 4, 2011

Posted on March 4, 2011 by Mitch Shannon

Mark Snead, Federal Reserve economist and head of the Federal Reserve Denver Branch, spoke at the Colorado Real Estate and Economic Summit and told the audience he sees the local commercial real estate market improving.  Nationally, the residential market seems to be ”bouncing” along the bottom.  Read more in an article in today’s The Denver Post. The local residential real estate market appears to be at or very near the bottom.  The metro area is seeing an increase inventory, however, the median sold price in January 2011 was $225,000, up almost 7% from last year’s median sold price of $210,000 in January 2010.  Mortgage interest rates remain just below 5%, making homes more… Read More »

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Mitch Shannon Launches iPhone, iPad and Android Real Estate App – February 21, 2011

Posted on February 21, 2011 by Mitch Shannon

Have you ever been driving through a neighborhood, see a house for sale and wonder…“What’s the list price or what does it look like inside?”  I have an app for that!  If you have an iPhone, iPad or Android phone you can download my custom real estate app for free.  You don’t need to sign up for anything or worry about spam emails.  This is a completely free app.  Even if you’re not looking to buy or sell, it’s a fun app if you are just curious about your local real estate market and nearby homes for sale.  Click here to download your… Read More »

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FHA to Increase Mortgage Insurance Premiums – February 16, 2011

Posted on February 16, 2011 by Mitch Shannon

The Federal Housing Administration announced on Monday an increase to it’s mortgage insurance premium (MIP) rate structure. The annual MIP will increase by a quarter of a percent (0.25). According to FHA, the annual premium increase will help FHA’s capital reserves, as mandated by Congress. The MIP increase will only apply to new loans originated on or after April 18, 2011. Read more…

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Stapleton’s Homes Sales Increase – February 9, 2011

Posted on February 9, 2011 by Mitch Shannon

According to sales data released by Forest City Enterprises, LLC the master developer of Denver’s Stapleton, residential home sales increased almost 10% in 2010. Sales data includes both new and resale homes.  In 2009, there were 412 total home sales.  2010 reported 453 residential sales, a 9.95% increase.  Read more…

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