Colorado Real Estate News

Real Estate Market Trends

Real Estate Market Trends

 

 

 

 

 

 

 

 

 

 

2020 Denver Real Estate Market Kicks Off as a Home Seller’s Market

Housing conditions in metro Denver last year, from low inventory to record-breaking prices, position Denver as a seller’s market going into 2020.

 

Scarce Inventory

2019 ended with 5,037 active listings, down 9.7% from 2018; notably representing 41% of Denver area’s 30-year annual average of 12,262 active listings. For perspective, active listings reached their highest point in July 2006 with 31,989 listings. During that period of record highs, months of inventory stood at 6.6 months which implied a healthy homebuyer’s market. The record-low month was in December 2017 with 3,854 listings.

Considering the average rate of home sales, it would take only 1.13 months to sell all single-family homes and 1.37 months to sell all condos in the Denver area. Anything under four months means sellers have the power in negotiations, while more than five months means buyers have control.

 

Record-breaking Home Prices

2019 established a new historical high and marked the eighth consecutive year of price gains. In 2019 the average home price was $486,695 and the median home price was $420,000, up 2.85% and 2.5% respectively compared to 2018. Furthermore, over the last 30 years the average home price in metro Denver has increased a staggering 417%!

 

Luxury Market Overview

The Luxury Market, homes priced $1 million and up, had 4.06 months of inventory at the end of December for single-family homes and 2.26 for condos – that’s more than any other housing price segment; yet it still indicates the market overall favors sellers.

The Luxury Market was the only housing segment to see a year-over-year decrease in average and median days on market – from 68 in 2018 to 60 in 2019, down nearly 12%, and has notably been decreasing since 2015 when it stood at 87 days.

In 2019, 2,421 homes sold and closed for $1 million or greater, up nearly 12% from 2018. The closed dollar volume in the luxury segment was $3.74 billion, up 13.5% compared to 2018.

Colorado Real Estate News

Top Breweries For Winter Seasonal Selections

Top Breweries For Winter Seasonal Selections

 

 

 

 

 

 

 

 

 

 

One of the best signs that winter is upon us here in Northern Colorado is the unveiling of new, seasonal beers at your favorite local breweries. With flavors ranging from roasted malts and chocolate to pepper spice and caramel, winter is the time to hit more than slopes, and head out to imbibe in a few wintery brews.

 

While there is clearly no shortage of breweries to choose from, here is a short list of our five favorite picks for the Northern Colorado breweries this winter season:

 

Nobody does sour beers like Funkwerks in Ft. Collins, CO. Although sour beers which have fruity notes seem like they’re only meant for the summer season, Funkwerks’ Rhuberry Provincial will remind you of the days in spring with ripe strawberry and tart rhubarb flavors. The tart and fruity flavors of Rhuberry Provincial and the small but characteristic Funkwerks tasting room will be sure to warm you up.

 

Gilded Goat Brewing Co., located in Ft. Collins, CO off S. College Ave. and Horsetooth Rd., recently won “Best Micro Brew Pub” in 2019 by NoCo Style – and for good reason. The Guten Bock is a very traditional German lager which offers a warm, bready aroma with notes of dark fruit and raisin. The sweet malts pair well with aroma which seems to warm you from within, but doesn’t overwhelm you if you’re apprehensive of darker beers. The two-story taproom offers a wide availability of seating with plenty of restaurants nearby to bring food while sipping on their wide selection of taps.

 

Located in Longmont, Colorado, Left Hand Brewery has three winter brews to choose from: Fade to Black, Good Juju and The Wake Up Dead Imperial Stout. Fade to Black is brewed with different ingredients each year, but it’s been noted that the latest in the series has rich notes of licorice and espresso. Good Juju is a bit lighter, but still has the seasonal spiciness that arises from brewing with ginger, and The Wake Up Dead Imperial Stout has flavors of raisin, black licorice, coffee and dark chocolate. If you’re in the mood to pair your brew with delicious food, make sure to check out the rotation of tasting room food trucks that alternate at the brewery on a daily basis.

 

Avery Brewing in Boulder has ‘Fimbulvvinter,’ a Belgian-style strong ale named after the harsh, three-year winter that precedes the end of days in Norse mythology. To live up to the name, Fimbulvvinter is aged in rum barrels, which provides a warming spice, and contains a hearty 17 percent ABV. If you’re looking for something a bit lighter, you’re sure to find it in Avery’s tap room where they have 30 year-round beers and tap room rarities. While you’re there, grab a bite from their menu of seasonally selected and locally sourced dishes for lunch or dinner.

 

No trip to Ft. Collins is complete without stopping by Odell Brewing Co. Now the 23rd largest craft brewery in the nation and a top favorite brewery for most Northern Colorado locals, Odell’s second taproom has become a huge success in the Riverside North (RiNo) Art District in Denver. Known for their impressive selections of IPAs and sours, it is Odell’s Oktoberfest which dominates the taps in the cooler season. The Marzen-style, Bavarian lager’s sweet malts and spicy hops offer a delicious break from winter’s chill.

Colorado Real Estate News

Competitive Ski & Snowboard Events In Colorado

Competitive Ski & Snowboard Events In Colorado

When the snow starts falling in Colorado, don’t bother cozying up inside; it’s time to head to Colorado’s world class ski resorts to witness the most famous ski and snowboarding competitions in the world. In addition to having the opportunity to watch talented athletes compete in a variety of disciplines, you can also enjoy on-mountain festivals, concerts and entertainment, and activities for kids of all ages.

 

With so many resorts hosting competitions and festivals all winter long, it can be hard to prioritize which ones to go to, so we rounded up the top three most popular competitive events in the state– and lucky for Coloradans, the world– below:

 

Winter Dew Tour at Copper Mountain – February 6-9, 2020

The Winter Dew Tour, held at Copper Mountain, is an experiential weekend with athlete appearances, arts and entertainment, demos and more. The innovative contest series and content platform brings the world’s best snowboarders, skiers and brands front and center for fans in a celebration of creativity and style. The contest showcases the disciplines of modified superpipe, slopestyle and streetstyle, as well as a team challenge competition. Spectators can enjoy a free front row seat to all the action and enjoy free concerts, stroll through the sponsor village, participate in autograph signings, and more all weekend long.

 

X Games Aspen – January 23-26, 2020

X Games Aspen is held at Buttermilk Mountain, and is known as the world’s best action sports, music and festival experience on snow, and all of the sport competitions are free and open to the public to watch. X Games Aspen is also host to several musical performances by world-renowned artists that will take the stage alongside the most progressive winter athletes. Be sure to stop by the lower gondola plaza at Aspen Mountain to check out the vendor village where a variety of brands will be handing out samples, swag, and doing product demos.

 

Audi Power of Four Ski Mountaineer Race, Snowmass – February 29, 2020

Watch extreme athletes compete in one of the most astonishing winter competitions around at the Audi Power of Four Race Series in Snowmass. The series is a premier endurance race over the unique and amazing terrain of each of the four Aspen Snowmass Mountains. Athletes compete in teams of two as they race to cover 24 miles and more than 10,000 vertical feet of climbing. Teams start in the Snowmass Village, traverse to West Buttermilk, then on to Aspen Highlands where they ski to Aspen Mountain and end in Gondola Plaza. In addition to the full course, participants have the option to race a shorter course, The Power of Two. This race route begins at the base of Aspen Highlands and also finishes at the Gondola Plaza in Aspen.

 

If you choose to attend any of these events for more than a day trip, keep in mind that accommodations in the immediate vicinity of Aspen, Snowmass and Copper Mountain tend to book early. If you aren’t able to plan your trip in advance, there are plenty of places to stay in nearby towns where you’ll be just a short drive from the venue. Basalt and Carbondale are great options near Aspen and Snowmass, and Frisco or Silverthorne are a short drive from Copper Mountain.

Colorado Real Estate News

How To Protect Landscape From Winter

How To Protect Landscape From Winter

Winter’s cool temperatures with Colorado’s bright sun can create landscape challenges unique to homeowners in Colorado. To prevent lasting damage to your landscape this winter, here are a few easy tips on how to prepare outdoor plants for the worst of winter.

 

Protect plant roots from the cold

For more cold-resistant plants, prioritize protecting the roots over the branches. To protect roots from freezing temperatures, add extra covering near the plant’s stem or trunk to insulate the ground from cold air. The best covering includes adding extra mulch, straw, wood chips, blankets, and tarps. Be sure to use stones, bricks, or stakes to keep the non-mulch covering from blowing away. Additionally, water plants before the storm, unless the plants are cacti or succulents. Water holds heat far more effectively than dry soil and will keep your plant’s roots above freezing temperatures.

 

Prevent snow and ice damage

Any plant or tree is susceptible to damage from heavy snow and ice, even those native to Colorado. The cold isn’t the main concern for established native trees and plants; stiff winds and the heavy weight of accumulated ice and snow can break smaller trees and branches, which can damage the entire tree.

The key to protecting plants from snow and ice is to prevent accumulation. Wrap smaller branches together with a strong cloth to withstand accumulation. If there are too many smaller branches, it may just be time for a pruning of weaker of smaller branches. If you’re worried about smaller plants, use a tee-pee shaped wood frame to keep snow and ice off the plant entirely. Blankets and tarps will also work to distribute the weight more evenly, and the snow can easily be shaken off after the storm by removing the covering.

 

Apply Anti-Desiccant to Shrubs

Anti-desiccant is a product which acts as an extra protective coating for plants in cold weather. Made from pine tree resin, the coating is sprayed onto plants who may be susceptible to damage from freezing temperatures. Anti-desiccant dries to the plant’s leaves to form a clear, colorless, and flexible film which will allow the plants to breath and absorb the sun’s energy through photosynthesis.

Anti-desiccant can also work to protect plant leaves from the sun. Cold, dry temperatures can cause plants to lose moisture in the trunk and leaves, which are then more susceptible to sun damage – like humans getting sun burn.

 

Potted Plants

Protect outdoor potted plants by placing the pots on top of a dolly. Roll the pots inside the home or garage ahead of freezing temperatures to avoid damage. As potted plants are above ground, the roots are far more susceptible to the air’s freezing temperatures than plants which grow in the ground and will need extra care to survive. Immature roots can die in outdoor potted plants at 23 degrees F, while immature roots planted in the ground may survive -10 and -20 F.

If wheeling your potted plants indoors is not an option, place pots on top of the dirt rather than concrete or pavement. Sunny days can warm concrete and pavement much more rapidly than the group, especially in Colorado, and lose heat when the sun sets. The rapid fluctuation in temperature can harm a plant’s roots, whereas the earth’s ground keeps a much more stable temperature.