The Brian Petrelli Team Blog

The latest market statistics for Denver Homes has been released for January, and once again, the numbers are very positive.

The demand for homes remains high. A close look at the chart below shows that Sold homes have increased 13% year-over-year while homes currently on the market (Active) have only increased 7%. This has resulted in a roughly 2 month supply of homes on the market.

The number of Under Contract homes fell 18% in January compared to last year. This is a figure we will watch closely to see if it is related to a lack of inventory or another cause.

Finally, the number that should really be highlighted here is the Average Sold Price. Prices have climbed 10% from last year. This is great news if you are a current homeowner, but if you have been putting off buying a home, waiting longer can cost you tens of thousands of dollars.

If you are looking at a $200,000 home today and prices continue the current trend, that home will cost you $220,000 next year. Factor in the rising interest rates, and waiting a year could be the worst financial mistake you every make.

Contact our team today to see if buying a home now is right for you: 303-726-1874. There are several grant programs and low down payment programs available in Colorado that can help you get into a home easier than you may think.

You can see our complete February Real Estate Newsletter here.

 January Denver Real Estate Market Stats:

The Inventory of active Denver Luxury Homes has declined drastically over the past 5 years. This decline in available inventory has lead to a rise in prices of those luxury homes that have sold by 14%. We’ve compiled a chart of the active luxury home for the past 5 years below. (Luxury homes are considered homes priced over $1,000,000.)

It’s a volatile market, and with less inventory to choose from, Denver’s luxury buyers are forced to compete with the growing pool of buyers for these homes.

From The Denver Business Journal:

Continued low inventory among metro Denver luxury homes drove prices higher and average days on the market lower, according to report Friday from Kentwood Real Estate.

There were 26 homes with a price tag over $1 million sold in January, down 16 percent from the 31 sold last year. But average prices jumped 14 percent year over year and days on the market plunged almost 50 percent, from 209 days in January 2013 to 108 days last month.

Active Denver Luxury Homes:

Based on information from Metrolist®, Inc. for the period 2009 through 2014 Note: This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.

See All Denver Area Luxury Homes: 
Denver Area Luxury Homes, Aurora Luxury Homes, Arvada Luxury Homes, Brighton Luxury Homes, Broomfield Luxury Homes, Castle Rock Luxury Homes,Centennial Luxury Homes, Commerce City Luxury Homes, Denver Luxury Homes, Englewood Luxury Homes, Golden Luxury Homes, Highlands Ranch Luxury Homes, Lakewood Luxury Homes, Littleton Luxury Homes, Northglenn Luxury Homes, Parker Luxury Homes, Thornton Luxury Homes, Westminster Luxury Homes 

The Park Hill Denver neighborhood is one of the most sought after areas in the city. Walking distance to downtown Denver, 2 golf courses (Park Hill Golf Course and City Park Golf Course), the neighborhood sits between I-70 and Colfax just west of Colorado Blvd.

This area has seen a great deal of remodels and fix and flips and this week, HUD released a home that has enormous potential. This 3 bedroom, 2 bath home has over 2,300 finished square feet, finished basement, formal dining room, sunroom, private backyard and a covered patio.

The home is in need of repairs and remodeling, but offers the perfect opportunity for a 203k mortgage (contact us for details) that will allow you to fix it up to your specifications.

Denver HUD homes are harder and harder to come by, and we expect to see a HUD home in this area move fast. If you are interested in seeing it, contact us today at 303-726-184. Bids are due tomorrow at Midnight.

2844 Dahlia Street Denver, CO 80207 Park Hill  $250,000.00

Beds: 3      Fin Sq Ft: 2323  Baths: 2     Year: 1925  # Of Photos Avail: 12 V-Tour Available:  No  MLS #: 7310936  Status: Active  Listing Office: Elist Realty Llc

Broker Remarks:  Lots Of Potential In This 2 Bedroom 1 Bath Home In Desirable Park Hill Community. Property Has Lots Of Character But Wil.. More…

A reminder that bidding on HUD homes is different than other types of homes. To learn more about how to buy a Denver HUD home, contact our team today.

Our team is preparing to list a fantastic 3 bedroom home in Antelope Heights Parker in the coming days. This great home has new carpet, granite counters, a gas fireplace, small loft area with built in desk, central A/C and a large yard.

This home is not yet in the MLS, but you can contact our team at 303-726-1874 to learn more and schedule a showing before the rest of the market knows its available.

For those not familiar with the Antelope Heights neighborhood, it is located in the south end of Parker  between Jordan and Chambers, south of Mainstreet. The area offers easy access to both I-25 and E-470 and is a mile from Parker Rd.

For more information on any of the available Parker homes, contact our team at 303-726-1874.

The Numbers are out for the total number of Colorado bank Owned homes that sold in 2013. According to the MLS data, the number of Bank Owned homes sold in 2013 was nearly half of the total number sold in 2012 and just over a third of the total sold in 2011.

We’ve included the chart below and as you can see, the past year of the rapidly improving market for Denver homes has had a major impact on the inventory of bank owned homes.

While this lack of inventory in the foreclosure market is great news for current homebuyers, we’ve seen this decrease in inventory take a significant toll on buyers looking at Denver investment properties and Denver fix and flip homes. With the inventory cut in half, the same pool of investors has been competing for fewer and fewer properties – making the competition fierce.

If you are interested in the investment property market, give our team a call. Many times investment properties never make the MLS. If we know what you are looking for, often times we can find homes for you before the market knows about them. Call us today at 303-726-1874.

Based on information from Metrolist®, Inc. for the period 2010 through 2013 Note: This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.

Our team is working with several buyers searching for Highlands Ranch condos. The available inventory of these homes is lower now than it has been for years, and it is causing prices in the area to rise.

We have charted out the available inventory of Highlands Ranch Condos and Townhomes for the past 5 years. A quick glance at the chart shows the staggering low current inventory levels. We’re currently sitting at roughly 10% of the inventory we had just 4 years ago!

While this is bad news for buyers, anyone who currently owns a condo or townhome in Highlands Ranch should be thrilled. The lack of inventory makes now the best time we’ve seen to sell your home in over 5 years.

If you would like to learn more about the market and how our team can help you sell your condo or townhome for the highest possible price, call our team today at 303-726-1874.

Highlands Ranch Condos and Townhomes – Available Listings:

 Based on information from Metrolist®, Inc. for the period 2009 through 2014 Note: This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.

As we promised last week, our team has just listed this penthouse, 2 bedroom condo in the Cambridge in the Foothills complex in southwest Littleton.

At just $154,000, this unit may offer the best view of the foothills of any Littleton condo priced under $200,000. The home has 14ft ceilings, a large deck, gas fireplace, hardwood floors, central air conditioning and a security system. Each bedroom has its own bathroom and the master bedroom has walk-in closets and its own sliding door to the patio.

This home is a great find and will go fast, so contact our agents to set a showing today at 303-726-1874.

Littleton Condos:

Our team has several agents who live in, or around, Littleton and can help you search all of the available Littleton condos to find the best home for your needs. Give us a call today!

Debbie Ells on our team has just listed an amazing remodel in the Kings Ridge neighborhood in Centennial. This home has been completely remodeled making it the finest home in Centennial Priced under $400,000!

Here is a partial list of all that has been done to this home:

• New Appliances (gas stove)
• New Cabinets
• New Granite
• New Hardwood Floors
• New Carpet
• New Paint
• New Roof
• New Furnace
• New Water heater
• New A/C
• New Sprinkler System
• Much, much, more!

This is a fantastic opportunity and a fantastic home. Check out the photos on our website and then give us a call to see this home for yourself at 303-726-1874.

Kings Ridge Centennial Homes:

7634 South Vine Street Centennial, CO 80122  Kings Ridge  $359,900.00

Beds: 4      Fin Sq Ft: 2483  Baths: 3     Year: 1973  # Of Photos Avail: 24  V-Tour Available:  No  MLS #: 2310384  Status: Active  Listing Office: Mb The Brian Petrelli Team

Broker Remarks: Amazing Remodel Located Is Beautiful Well Updated Kings Ridge. Completed From Head To Toe With All New Appliances (Gas …More…

We’re getting a new listing in Cambridge In The Foothills ready to hit the market next week, but we wanted to showcase it for you here before we enter it into the MLS.

Cambridge In The Foothills is located in west Littleton and offers Littleton condos in the mid $100’s. The location offers amazing views of the foothills, easy access to C-470 and the mountains, as well as shopping, Chatfield State Park and much more.

This is a gorgeous unit and we expect to sell it quickly, so if you have any interest, contact our team today at 303-726-1874 to set a private showing before the rest of the market knows about it!

12348 W. Dorado Pl #302 $154,000 2 beds + Office 2 Baths Hardwood Floors Large Kitchen and Dining area Large deck with mountain views Backs to Open Space Newer appliances Washer and Dryer included Showings start Feb 2nd

Over the past few months we’ve been gradually rolling out improvments to our website. We are excited to announce that anyone can now search all of the Denver Sold homes for the past several years.

This has been a major undertaking as the data for these sold homes in quite large. However, we have made all of it available to users on our website to search. As a reminder, you do not need to register or login to perform any search on our website. The tool are there to use and we will not require any contact information from you.

Our team designs this website on our own. We do not hire it out to a web design company or other IDX provider. So, if you have any feedback or suggestions, please send us an email. We love to hear how you are using the site, and most importantly, how we can make it better for you.

The data is available for all major cities in the Denver area:

Sold Highlands Ranch Homes

Sold Littleton Homes

Sold Parker Homes

Sold Aurora Homes