Colorado Real Estate News

Navigating the Real Estate Landscape: How Kentwood Supports Clients Every Step of the Way

Buying or selling a home is a complex and overwhelming process for even the most seasoned of homebuyers and sellers. From navigating market fluctuations and understanding complex legalities to grappling with financing hurdles, budgeting, and coordinating inspections and repairs. Emotional attachments to properties can further complicate decision-making, while competitive market conditions add pressure to both buyers and sellers. Timing and coordination issues often arise, requiring careful planning and negotiation. These complexities ultimately highlight the importance of seeking experienced professionals who can provide guidance and support throughout the entire process, ensuring a smoother and more successful transaction for all parties involved. And from initial consultation to after-closing activities, our team goes above and beyond to deliver exceptional service and achieve the results our clients want. Here’s why:

Handling Every Detail From Photography to Negotiations

When it comes to selling a home, our brokers leave no stone unturned. We begin by conducting a thorough pre-listing conference call with sellers to gather information and set expectations. From researching comparable properties and market trends to preparing detailed market analyses and marketing plans, we take a proactive approach to maximize exposure and attract qualified buyers. Additionally, we handle all aspects of the listing process, from arranging professional photography and virtual tours to coordinating showings and negotiating offers and subsequent inspection requests so that buyers and sellers don’t get caught up in the details. Our goal is to ensure that our clients’ properties stand out in the market and command top dollar.

Strategic Marketing Approach: Highlighting Unique Property Features

Effective marketing is one of the backbones to selling a home swiftly and at the best possible price. That’s why we employ a strategic approach to showcasing our clients’ properties. From utilizing targeted digital advertising campaigns to leveraging social media platforms and online listing portals, we ensure maximum exposure to potential buyers. Our team also takes it one step further to harness the power of traditional marketing channels such as print media and direct mail to reach a more diverse audience. By combining technology with our skilled marketing team and their methods, we create tailored plans that highlight the unique features and strengths of each property, ultimately driving interest and sometimes even media interest! With the benefit of years of experience and connections our brokers are highly adept at networking as a means of promoting their listings to consumers and other brokers alike.

Buyer Representation: Advocating Every Step From Showings to Closing Activities

For buyers, navigating the real estate market always feels daunting, but our experienced brokers take the time to understand each client’s unique needs and preferences, conducting thorough intake calls or meetings to establish search parameters and goals. We provide invaluable insights into current market conditions, assist with lender referrals, and set up personalized MLS searches to streamline the homebuying process. Whether it’s scheduling showings, strategizing offers, or coordinating inspections and closing activities, we act as trusted advisors and advocates for our buyers through every confusing detail (and there are many!)

Expert Guidance and Support: Navigating Negotiations and Closing Logistics

Our commitment to our clients extends far beyond the transaction itself. Our brokers are dedicated to keeping clients informed and empowered, providing regular updates, addressing any concerns or questions, and offering expert advice and resources as needed. From navigating contract negotiations to facilitating closing logistics and post-closing occupancy arrangements, we handle all the details so that our clients can focus on their next chapter with confidence.

Compliance and Ethics: Building Trust by Prioritizing Ethical Conduct and Fair Practices

With changes on the horizon,  compliance and ethics are as important than ever in the real estate industry. We hold ourselves to the highest standards of professionalism, integrity, and transparency in all our dealings. Our brokers are well-versed in the latest regulations and best practices, ensuring full compliance with legal and ethical guidelines to protect our clients’ interests and uphold the integrity of the transaction process. Whether it’s safeguarding confidential information, disclosing material facts, or adhering to fair housing laws, we prioritize ethical conduct and strive to build trust and credibility with every client interaction.

Buyer and seller representation are fundamental aspects of the real estate experience, and at Kentwood Real Estate, we take great pride in our ability to deliver exceptional service and support to our clients. From comprehensive listing activities to expert guidance and compliance with ethical standards, we go above and beyond to exceed expectations and achieve successful outcomes. As we navigate the evolving landscape of the real estate industry, our commitment to excellence remains unwavering, ensuring that our clients receive the highest level of service and representation every step of the way. Whether you’re buying or selling a home, you can trust us to be your partner and advocate in achieving your real estate goals. For more information, visit us online at www.Kentwood.com to explore or reach out to your dedicated Kentwood broker for personalized assistance.

*Updated as of April 8, 2024 

Colorado Real Estate News

Embracing Slow Living: A Pathway to Sustainable Happiness?

While the concept and practice of slow, intentional, and mindful living has been around since ancient times, slow living has been having a resurgence in recent years as people lean away from hustle culture. While we try to stay afloat in a sea of fast fashion, fast food, and fast everything, the question begs: what if we shift perspectives into a way of living that isn’t about being the ‘best ever’ but simply allows us to better respond to life’s madness? Something that’s a bit low-key that we can all do with the very little time we have: slow living. 

In the demands of modern life, the concept of slow living has emerged as a soothing philosophy for our jam packed souls. In Colorado, amidst our wonderful urban and mountain backdrop, there’s a growing buzz about the allure of embracing a slower, more intentional way of life. But what exactly is the fuss about living a slow life, and why are more and more people gravitating towards this lifestyle?

The “slow living” trend has been growing exponentially on places like YouTube, and is closely associated with popular themes of simple living and minimalism. There was a stunning 4X increase in views of videos with “slow living” in the title in 2023 compared to 2019. The data indicates many of us have been inspired to take up hobbies and explore interests that we previously considered too time consuming.

As we mentioned, slow living isn’t merely a trend; it’s a philosophy. At its core, slow living is about reclaiming control over our time, our actions, and our environment. It’s seen as a rebellion against the relentless pace of modern society, where productivity is often valued above all else. Instead, the idea of slow living invites us to stay in the present moment, to peek around at the little joys around us, like gardening or a walk around the neighborhood, and to cultivate meaningful connections with both ourselves and the world.

One of the central tenets of slow living is sustainability. Many people feel that the need for sustainable living practices has never been more urgent and are looking for ways to incorporate it into their daily lives. Slow living encourages us to tread lightly and minimize our carbon footprint, as well as to embrace eco-friendly alternatives whenever possible. Whether it’s reducing our reliance on single-use plastics, opting for locally sourced goods, or turning the focus toward our homes, every small action contributes to a more sustainable future.

Speaking of homes, if you’re considering creating a home aligned with the principles of slow living it involves prioritizing energy efficiency, mindful consumption, and connection to nature. This includes using eco-friendly materials, optimizing energy usage, and minimizing waste through practices like composting and water conservation. By curating spaces that prioritize quality over quantity, integrating natural elements, and fostering a sense of connection to the environment, we can create homes that not only support our well-being but also contribute to a more sustainable future.

But slow living isn’t just about external changes; it’s also about shifting our mindset and priorities. It challenges the notion that happiness is synonymous with material wealth and constant consumption. Instead, it invites us to reassess what truly brings us joy and fulfillment. By cutting back on unnecessary purchases and embracing a more simple lifestyle, the theory is that we free ourselves from the burden of excess and create space for what truly matters—whether it’s spending time with loved ones, pursuing hobbies, or simply enjoying moments of solitude and reflection.

In a place like Colorado, with our slew of outdoor activities, slow living aligns perfectly with the ethos of embracing nature and the great outdoors. It’s about trading hectic schedules for leisurely strolls in the park, swapping screen time for starlit nights around a campfire and carving out time for exploring the Rocky Mountains. In embracing slow living, we not only nurture our own well-being but we also forge a deeper connection with the natural beauty that surrounds us.

At Kentwood Real Estate, we understand the importance of finding a home that aligns with your values and aspirations. Whether you’re searching for a cozy urban loft or a rustic retreat nestled in the hills, we’re here to help you find a space that not only meets your practical needs but also supports your desired way of life.

*Updated as of April 5, 2024

Colorado Real Estate News

Denver Market Trends

As the Denver Metro market jumps headfirst into our spring season, the latest report from the Denver Metro Association of Realtors® (DMAR) paints a picture of optimism and activity as we transition into the (welcomed) warmer months of the year.

One of the biggest highlights of the report is the significant increase in new listings. March saw a strong 16.27 percent jump in new properties hitting the market compared to the previous month. While this represented a slight dip from the same time last year, it’s a clear indicator that sellers are feeling more confident about putting their homes up for sale.

Moreover, active listings at the end of the month also saw a healthy increase, up by 6.13 percent compared to the previous month and a striking 29.52 percent increase year-over-year. This uptick in inventory suggests that the market is gradually offering buyers a wider selection of properties to choose from.

Despite the increase in inventory, median close prices continued to rise, albeit at a more moderate pace compared to the double-digit spikes seen during the pandemic years. The median close price reached $595,000, representing a 3.48 percent increase. This steady appreciation in home prices reflects a more sustainable and stable market environment.

Buyers, too, are actively engaging in the market, evidenced by the swift pace at which properties are going under contract. The median days on the market fell by an impressive 52.17 percent from February to March, indicating that buyers are wasting no time in making their moves.

Pending sales saw a significant uptick of 31.94 percent, showcasing the eagerness of buyers to capitalize on the available inventory. While closed sales saw a more modest increase, it’s important to note that closed transactions are a lagging indicator, meaning that the impact of increased pending sales will likely be seen in the coming months.

One of the most encouraging signs in the report is the resurgence of the Luxury Market. Properties priced at $1 million or higher saw a notable increase in both listings and closed sales. Demand in this segment of the market continues to outpace supply, leading to a decrease in months of inventory to 2.77 months. This indicates a strong seller’s market in this segment, with properties selling relatively quickly as compared to other months leading into spring.

Looking ahead, there’s a sense of anticipation as we head into the spring and summer months. With increased inventory, growing buyer demand, and favorable market conditions, we can expect to see continued activity and potentially heightened competition. While interest rates may influence the pace of the market, the seasonality of real estate is sure to play a significant role in shaping the coming months.

Overall, with spring in full swing, sellers are feeling more confident, buyers are eager to make their moves, and the market is showing signs of strength. As we navigate through the season, optimism is high, promising what’s sure to be an interesting and fast-paced market in the months to come.

*Updated as of April 5, 2024 

Colorado Real Estate News

Northern Colorado Market Trends

In the world of housing, anticipation has been hanging heavy on the Federal Reserve’s every move. With promises of interest rate cuts looming, the anticipation is notable across the American economy. While the cuts remain pending, the residential real estate market in Northern Colorado has wasted no time in forging ahead into 2024 on a positive note, as we begin to look ahead towards spring. Many educated sellers know that buyers are experiencing spring fever and are tired of sitting on the fence watching home prices increase.Residential real estate sales in February have largely shown an upward trend compared to the previous month in both the Boulder Valley and Northern Colorado.

In Fort Collins, February witnessed a significant surge in detached closed sales, leaping from 91 in February 2023 to 107 in 2024, marking a notable 17.58 percent increase. Moreover, closed sales volume experienced a healthy uptick of 12.26 percent, reaching $69,155,989 for last month. The average sales price for detached properties was the sole decline year-over-year, dipping from $683,033 to $652,095. Conversely, in the attached segment of the market, the average sales price saw an increase of 5.84 percent, reaching $418,284. However, closed sales in this category dropped by 15 percent to 34 in 2024, with closed sales volume down by 10.04 percent year-over-year to $14,22,644.

In Loveland, the market followed a more seasonal trajectory, with detached closed sales decreasing from 85 in 2023 to 71 in 2024, marking a 16.47 percent decline year-over-year. Closed sales volume also experienced a dip of 10.22 percent this Feburary, totaling $42,870,393, aligning with typical February trends. Attached sales mirrored this downward trend, dropping by 26.32 percent year-over-year to 14, with closed sales volume down by 25.59 percent to $5,805,724 as well.

Boulder, on the other hand, defied the usual winter slowdown, boasting a remarkable 67.97 percent surge in detached home sales, skyrocketing from 128 to 215 transactions. The closed sales volume for detached properties similarly soared by 59.72 percent from the previous year, reaching $232,913,413. The attached segment also experienced a surge in closed sales, climbing from 77 to 97 in February 2024, representing a notable 25.97 percent increase. However, the average days on the market increased by 31.15 percent year-over-year, rising from 61 to 80 days.

In Berthoud, detached closed sales saw an uptick of 11.54 percent, rising from 26 to 29 year-over-year. Overall, the closed sales volume for detached properties experienced a marginal decline of 2.00 percent, amounting to $19,975,452. Conversely, in the attached market, all indicators pointed downwards, with closed sales going down from 6 to 1, and an 86.30 percent decrease in closed sales volume, dropping from $3,393,82 to $464,990, mirroring the typical seasonal slowdown. 

“As the spring season unfolds, Northern Colorado’s real estate market stands resilient amidst interest rate movements. With the excitement of spring fever, sellers are seizing the moment, navigating the market with confidence and optimism” said Sarah Tyler, Managing Broker at Kentwood Real Estate Northern Properties.

*Updated March 15, 2024

Colorado Real Estate News

Rise of Quiet Luxury

The rise of “quiet luxury” took the fashion and interior design world by storm the past couple years, but as we dive further into 2024, it is still prevalent in many design and decor choices, proving that the trend, also known as ‘old money’ style, is here to stay. But what exactly is ‘quiet luxury’, and why is it still so popular?

This shift signifies a departure from the ostentatious displays of wealth towards a more understated and refined approach to luxury living. Both the convergence of technological advancements and changing lifestyle aspirations is reshaping the luxury real estate market. Now, more than ever, we seek comfort and luxury in our homes; spaces that exude warmth, elegance, and serenity. We wish for pieces crafted from high-quality materials that will enhance our homes and our lives while acknowledging the impact on the environment. 

The Influence of Media: ‘Succession’ and Quiet Luxury

Many attribute the television series ‘Succession’ as playing a role in bringing the concept of quiet luxury to the forefront, as evidenced by the resurgence of iconic brands like Zegna, which attributes its return to profitability to the demand for understated elegance. The allure of “if you know, you know” exclusivity has become a driving force in the luxury market, challenging the dominance of mega-brands.

One example of the quiet luxury trend is a modern Hamptons mansion featured in the aforementioned ‘Succession.’ This $55 million property has been named as the epitomization of the quiet luxury movement with its discreet location, impressive amenities, and refined aesthetics. The mansion, as seen in Season 3, Episode 4, offers a blend of tranquility and opulence, showcasing the trend’s emphasis on sophistication and understated elegance.

Nearly all the homes showcased in the award-winning ‘Succession’ exemplify the quiet luxury trend through meticulous craftsmanship and attention to detail. For instance, the $83-million San Onofre estate in Pacific Palisades, California, boasts classic architectural elements and meticulously designed interiors with expensive materials like marble and fine woodwork. The property’s amenities create an ideal setting for social gatherings, appealing to those who value high-quality networking in a discreet environment.

Other European real estate featured in ‘Succession,’ such as Villa Cetinale in Siena and Villa La Cassinella on Lake Como, further exemplify the quiet luxury characteristics. These historical properties offer timeless elegance and exclusivity, attracting high-net-worth buyers with a taste for understated opulence. 

Here are some ways you can incorporate the trend into your own home: 

  1. Embrace Warm Minimalism in a Bathroom

Bathrooms can now be more than purely functional spaces,  they are the perfect places to embrace the latest trend for quiet luxury. More homeowners want to create an oasis of wellbeing at the heart of their home so they can enjoy it as a private retreat to de-stress and unwind. For a cleaner, more modern alternative to warm minimalism, the Japandi design concept is an amalgamation of Scandinavian and Japanese aesthetics, and presents a less is-more statement that exudes confidence. Natural materials, especially woods like the rich walnut seen on this Copenhagen collection, are commonplace and perfect for softening a contemporary luxury bathroom while still leaning into the warm minimalism of the quiet luxury trend.

  1. Curate a Kitchen That Feels Like a Living Space 

The kitchen of 2024 is evolving into a space that goes beyond mere functionality, aiming to exude sophistication comparable to a luxury living room. The ideal luxury kitchen is a social space where friends and family can gather comfortably without the distraction of visible appliances. A key consideration for achieving quiet luxury in kitchen design is the incorporation of texture, as showcased in neutral-toned spaces. Textural elements, ranging from rough jute rugs to woven materials like wicker and stoneware vases, add depth and interest to the overall aesthetic. This emphasis on texture not only enhances visual appeal but also contributes to a warmer and more inviting atmosphere, transforming the kitchen into a multifunctional haven.

  1. Minimize Noise and Clutter in the Home

“Hushing the house” or quieting the home originates from a decluttering perspective, aiming to create a serene and muted living space that allows the elements of shapes, materials, and colors to harmonize rather than overwhelm. This approach embraces a “less-is-more” mentality while preserving warmth through careful consideration of color and texture. A sublime palette of neutrals and furniture that promotes calmness and cohesion in a quiet luxury living room. The goal is to craft an enduring and elegant space that remains timeless, versatile enough for both relaxation and entertaining, ensuring it won’t go out of style.

  1. A Luxury Quiet Bedroom for Deep Slumber 

The bedroom serves as an ideal space to embrace the quiet luxury movement, with a focus on creating a cozy and calm environment for rest and relaxation. Surrounding oneself with aesthetically pleasing items, such as amethyst and aromatherapy oils, can also enhance sleep. Additional relaxation options include silk-covered weighted blankets, known for reducing restlessness and aiding in faster sleep onset. Personalizing the space with nature-inspired designs, whether through artwork or framed pressed flowers, adds a luxurious touch. Introducing a rug, ideally on either side of the bed, provides a soft underfoot experience in the morning. The choice of bedroom color scheme is equally important, as colors can soothe, warm, and nurture, influencing sleep quality, energy levels, and overall well-being.

Beyond Physical Attributes: The Lifestyle of Quiet Luxury

The quiet luxury trend extends beyond the physical attributes of a property, encompassing a lifestyle marked by understated opulence. These homes prioritize privacy, comfort, and a sense of sanctuary. Rather than flaunting extravagant features, they rely on a carefully curated approach that resonates with the discerning preferences of high-net-worth individuals.

As the luxury real estate market continues to transform, the “quiet luxury” trend is reshaping the way many approach luxury living, and defining a new era in luxury real estate. The fusion of technology and refined aesthetics promises an exciting journey ahead in the pursuit of subtle opulence.

*Updated as of March 6, 2024

Colorado Real Estate News

Navigating the Rapid Shift from Winter to Spring Real Estate Market

As winter starts to retreat and spring blossoms, Denver Metro’s real estate market is experiencing that springtime shift we’ve all come to know and expect. Arriving earlier, and with more gusto than most anticipated, the recent surge in February’s housing market indicated a bit of a departure from traditional seasonal patterns, leaving real estate brokers with new challenges and opportunities to navigate as we look ahead.

The February trends report from the Denver Metro Association of Realtors revealed a market that is currently defying winter expectations and showing signs of an early spring. The days when sellers waited for their spring gardens to bloom before listing their homes for sale are now long gone. The February weather may have said ‘winter,’ but the market said, ‘spring.’ This shift is attributed to sellers re-entering the market, eager to capitalize on pent-up demand following a period of uncertainty fueled by interest rate fluctuations.

At the end of February, active listings spiked to 5,511, marking a 46 percent increase from the previous year and a 350 percent surge compared to February 2022. This surge is the second-largest percent increase on record, indicating a robust market that demands attention. With pent-up buyer demand and limited inventory, the median close price rose to $576,584, a 2.4 percent increase from the previous year.

Buyers, experiencing a touch of spring fever, are influencing the dynamics of negotiations and becoming more demanding because they have more options. In response to rising interest rates, buyers are keen on securing move-in-ready homes, putting pressure on sellers to ensure their properties are in optimal condition.

The median days on market went significantly down from 36 in January to 23 in February, showcasing the urgency of the current market. Sellers who invest time in preparing their homes for showings by decluttering, servicing HVAC systems, and addressing maintenance concerns are likely to attract multiple offers and maximize their profits. However, buyers are not only scrutinizing the condition of homes but also strategizing on negotiations. Savvy buyers are well-aware of the growing inventory, empowering them to negotiate upfront on price and terms, as well as during inspections.

The rise in new listings and closings reflects the overall momentum in the market. New listings surged by 29.1 percent month-over-month, reaching 4,243, and closings increased by 31.2 percent to 2,864. Despite a slight dip in closed sales compared to the previous year, the market remains very strong, driven by an increase in seller activity.

As interest rates tick up again, the impact on the market is evident. February saw a 17 percent drop in mortgage applications due to a rise in the average 30-year loan rate from 6.67 percent to 7.13 percent. Despite this, pending sales increased at a rate of 12.7 percent, indicating a resilient market. 

In the Luxury Market, the trend of early listings continued, with a substantial increase in inventory for homes priced at $2 million and above. The rush to list properties, particularly in the attached market, resulted in an influx of new listings, causing an imbalance in supply and demand. Sellers in this segment should be prepared for a more competitive market.

The rapid shift from winter to spring brings both challenges and opportunities for buyers, sellers, and brokers in Denver. Prepared sellers, understanding the nuanced needs of today’s buyers, can navigate the market successfully. On the other hand, discerning buyers armed with knowledge about home insurance and negotiating strategies are well-positioned to make informed decisions. 

As the spring season unfolds, we advise everyone to stay informed and agile to seize the opportunities that this season presents. For more information, visit us online at www.Kentwood.com to explore or reach out to your dedicated Kentwood broker for personalized assistance.

*Updated as of March 11, 2024 

Colorado Real Estate News

Denver Market Trends

As the Denver real estate market gears up for the spring selling season, a surge in interest rates has prompted savvy sellers to capitalize on the growing impatience of potential buyers. The month of February witnessed a notable 29.12 percent month-over-month increase in new listings, coupled with a substantial 22.63 percent surge year-over-year. This influx of fresh properties has significantly boosted active listings, reaching 5,511 homes—a 45.87 percent gain compared to the previous year.

In response to the expanding inventory, discerning buyers are taking a more measured approach. Pending sales increased by 12.70 percent month-over-month, totaling 3,514, indicating that buyers are carefully evaluating their options and ensuring that the chosen property aligns with their needs. Successful sellers in this competitive market have dedicated time to ensure their homes are in prime condition for showings, resulting in multiple offers and maximized profits for those who executed their plans effectively.

Buyers are adopting diverse strategies in this evolving landscape. Some are navigating multiple offers on their dream homes, while others are expanding their search parameters to find hidden gems in the market. Buyers are increasingly aware of the growing inventory, giving them negotiating power on both price and terms, including inspections.

One noteworthy shift in buyer strategy involves considering home insurance availability, a concern that has become prominent not just in Denver but across the country. Prospective buyers are now factoring in home insurance considerations before submitting an offer, reaching out to insurance providers to ensure coverage in their desired areas, and obtaining Comprehensive Loss Underwriting Exchange (CLUE) Reports. This proactive approach allows buyers to identify potential hurdles, such as insurance providers declining coverage, which could otherwise disrupt a transaction.

Despite the challenges, the spring season in Denver is heating up. Prepared sellers can minimize the need for a second round of negotiations during inspections, while strategic buyers enter the market with a clear understanding of their preferences and available options.

In the high-end real estate segment—properties priced at $2 million or more—the market has experienced a significant uptick in new listings. Sellers, no longer waiting for spring gardens to bloom, listed 689 new homes in February, marking the largest month-over-month increase in inventory for this segment. Attached homes priced at $2 million and above saw a staggering 96.77 percent increase, while detached homes rose by 58.99 percent.

This surge in new listings has created a surplus of inventory, particularly in the attached market where condos and townhomes priced between $1.5 million and $1.99 million have 9.25 months of available inventory. Similarly, attached homes over $2 million face 7.33 months of inventory, establishing this segment as a favorable buyer’s market. In contrast, detached homes remain more competitive, especially in the $1 million to $1.499 million price range, boasting only 2.63 months of available inventory. At higher price points, buyers hold an advantage, with the $2 million plus segment having 6.38 months of inventory in February.

The early rush in the market signals sellers’ pent-up desires to capitalize on the current conditions, despite interest rates remaining above six percent. Tired of waiting for the perfect conditions, sellers have decided to jump back into the market, contributing to the notable surge in new listings and making the Denver real estate market an exciting space for both buyers and sellers.

*Updated as of March 5, 2024 

Colorado Real Estate News

Northern Colorado Market Trends

After a bit of a lackluster close to 2023, the real estate landscape in NoCo is showing signs of a resurgence in 2024. Market analysts attribute this shift to the anticipated decline in interest rates, creating a renewed sense of activity. In January, the housing scene witnessed a flurry of new listings, sparked possibly by the downward tick in interest rates. Across the region, the year-over-year surge in new listings was remarkable, ranging from the high teens in Boulder to an impressive nearly 49 percent spike in Greeley, closely trailed by Longmont at 40.4 percent. These surges seem to be more than just the result of new construction or sudden seller decisions; they reflect the palpable excitement among sellers fueled by the prospect of declining interest rates.

In Fort Collins, January experienced a dip in closed sales for detached homes. However, attached homes remained steady compared to the previous month. Closed sales are a measure of the properties that went under contract the previous 30-45 days. With the holidays in December, it’s no surprise to see January closings dip. This is the seasonality we so often talk about in real estate.

The average sale price for detached homes in Fort Collins witnessed a significant month-over-month increase, jumping from $745,802 in December 2023 to $806,482, marking a substantial 27.79 percent rise since January 2023. Average days on the market reached 73 in January 2024, up from 65 the month before and marking a 15.87 percent increase year-over-year. Attached homes also experienced a noteworthy year-over-year increase in average sales volume, rising from $9,985,145 in January 2023 to $13,310,464 in January 2024.

Loveland observed a modest uptick in detached home sales from 62 last month to 71 this month but faced a significant decrease in closed sales volume from $54,459,243 in January 2023 to $37,517,659 last month, reflecting a substantial 31.11 percent decrease year-over-year. This month, the average sales price for detached homes in Loveland witnessed a more pronounced 34.02 percent drop, sliding from $800,871 in January 2023 to $528,418 in the current month.

Boulder experienced a surge in detached home sales, recording a substantial 38.39 percent year-over-year increase in January, leaping from 112 to 155 transactions. The closed sales volume in the detached sector also soared by 18.84 percent last month to $181,174,051, underscoring heightened interest in the attached property market. However, the attached segment saw a 10.29 percent decrease in closed sales, dropping from 68 to 61 in January 2024, with average days on the market rising by 32.73 percent from 55 to 73 year-over-year.

Berthoud witnessed declines in both detached and attached closed sales, with a 50.00 percent dip in detached and a significant 100 percent drop in attached sales. Overall, closed sales volume decreased by 58.81 percent in detached and a substantial 100 percent in attached properties as no attached properties were sold this past month in the region.

“We are witnessing a promising resurgence in NoCo’s real estate scene throughout 2024,” said Sarah Tyler, Managing Broker at Kentwood Real Estate Northern Properties. “This momentum is fueled by the anticipated decline in interest rates, igniting excitement among sellers. From the increase in listings to the evolving sales dynamics, the market reflects a noticeable sense of anticipation and change.” 

*Updated February 18, 2024 

Colorado Real Estate News

Exploring Ideal Second Home Locations in Colorado

In the evolving landscape of second home investments, we’ve observed shifts in demand and trends, especially in Colorado’s coveted mountain regions. While the surge in second home purchases during the peak of the pandemic has tapered off, we’re now witnessing a unique opportunity emerging in the market. As we progress through 2024, this is creating a favorable environment for those considering expanding their property portfolio.

In light of these dynamics, we, at Kentwood Real Estate, are here to provide our expertise and assistance as you navigate a potential second home purchase. If you’re eyeing a new property in other areas around the state, finding a great broker in the Kentwood network is one referral away, and many Kentwood brokers have specialized experience in the Colorado communities mentioned below.

Whether you’re seeking a mountain escape or an urban setting, we recommend the following locations for your second home purchase: 

Summit County

If you’ve had the privilege to visit Summit County, you know the area stands out for its mountain views and well-known ski resorts in Breckenridge, Keystone, and Frisco. Summit County is a year-round playground, with skiing and snowboarding in the winter and hiking, biking, and golfing in the summer. Investing in a second home here not only provides a haven for outdoor enthusiasts but also potential passive income through vacation rentals, which have skyrocketed in the area. 

Grand County

For those seeking a quieter retreat, Grand County is an excellent choice as the region is known more for its laid-back and casual atmosphere. With towns like Winter Park, Grand Lake, and Fraser, this area offers views surrounded by pristine lakes and dense forests and provides year-round activities such as boating, hiking, and biking near Rocky Mountain National Park. On top of this, Winter Park Resort is a family-friendly alpine resort with various activities for skiers of every level. 

Steamboat Springs

Famous for its champagne powder and world-class skiing, Steamboat Springs is an adventurous destination with the longest, fastest gondola in North America. We know the town offers a mix of outdoor pursuits, including skiing, snowmobiling, and hot-air ballooning, and the real estate value in Steamboat Springs hasn’t reached Vail or Aspen numbers yet, meaning it’s still an ideal investment location for a second home. Kentwood Real Estate can guide you through the process of securing your second home in this Northwest Colorado haven.

Aspen

Aspen, renowned for its high-end real estate and glamorous reputation, remains a top choice for those seeking a luxurious second home. Around the town, prices are always higher than in other locations, and the upper end of the market is still very much driving volume and driving activity. Overall, people still want to be there and there’s strong demand and the inventory is constrained.

Bottom Line

No matter the location, Colorado offers a diverse range of second-home opportunities, and the Kentwood Real Estate team is well-equipped to guide you through the process. With Kentwood Real Estate’s global network, finding a great broker anywhere in the world is just a referral away. Through our Relocation Division and memberships in prestigious organizations such as Who’s Who in Luxury Real Estate, Leading Real Estate Companies of the World and Luxury Portfolio International, we ensure a seamless experience for our clients.

Many Kentwood brokers have significant expertise in Colorado’s mountain towns and those who don’t will work closely with you to match you with a knowledgeable and attentive broker who understands the area you’d like to explore.

Visit us online at www.Kentwood.com to explore more or reach out to your dedicated Kentwood broker for personalized assistance.

*Updated as of February 15, 2024 

Colorado Real Estate News

Colorado Indoor Events

Whether you love it or hate it, winter is upon us in our lovely Colorado! While many are hitting the slopes or hooking up their snow shoes, there are plenty of others who are looking to just stay warm. Despite its wintery reputation, the Mile High City boasts a plethora of indoor activities to keep locals warm and entertained. From immersive art experiences to thrilling sports events, culinary adventures, enchanting concerts, and rejuvenating spa escapes, Denver has something for everyone. Here are a few of the exciting indoor events that await you in the heart of Colorado this month.

Meow Wolf: A Galactic Adventure

Embark on “an otherworldly journey” at acclaimed and very popular Meow Wolf, a unique and playful destination that features incredible large-scale interactive and amazing immersive art installations. The 90,000-square-foot complex is called Convergence Station and is Meow Wolf’s largest permanent installation in the country.

Described as a unique collision of four alien worlds brought to life by rare cosmic events, dive into this immersive art experience, transcending traditional boundaries of storytelling and art. Purchase tickets online and choose your adventure through interdimensional travels, making this a must-visit destination for art enthusiasts and adventure seekers alike.

Head to Ball Arena: Home to Avalanche and Nuggets Games

Even if you’re not the biggest sports enthusiast, February in Denver means cheering on favorite teams while warm and indoors at the Ball Arena. And truly, the energy is always high. Witness the Colorado Avalanche carving up the ice or the Denver Nuggets reclaiming their championship (we hope!) yet again on the basketball court. Escape the winter weather while basking in the thrill of live sports action. Grab your tickets, don your team colors, and experience the electric atmosphere of Denver’s largest indoor arena.

Dairy Block: Culinary Delights in Downtown Denver

Hang out and have yourself a gastronomic adventure, exploring creative plates and cocktails from a variety of restaurants. The district’s charming streets, adorned with art displays, create a picturesque backdrop for your winter escapade. Indulge in delightful snacks, shop for unique finds, and relish the warmth of this downtown gem. Psst… check out Foraged, a hip, luxurious restaurant in the Dairy Block with two levels boasting delicious Japanese tapas.

Create Kitchen and Bar: Unleash Your Inner Chef

Swap snowy activities for a culinary adventure at Create Kitchen and Bar. With a nearly 5.0 rating on Google, channel your inner chef in the midst of the mountains without the hassle of grocery shopping and cleanup. Plan ahead and secure your spot in limited-size classes, where you’ll create culinary masterpieces. Sip on cocktails, enjoy the company, and revel in a cozy Colorado day indoors.

Candlelight Concerts: Musical Magic 

Whether your vibe is Taylor Swift or Fleetwood Mac, elevate your February evenings with the enchantment of Candlelight Concerts this February and March because both artists will be represented. Immerse yourself in the magic of live music illuminated by the soft glow of candlelight. Choose a concert that resonates with your musical tastes. Purchase tickets online, and prepare for a lovely, intimate experience at various locations throughout Denver.

Oakwell Beer Spa: A Relaxing Oasis

For a unique and rejuvenating experience, visit Oakwell Beer Spa. This award-winning day spa offers beer-inspired services in a cozy taproom oasis. Relax in the Zero Gravity Massage experience in the Relaxation Lounge, or indulge in the signature Beer Bath Hydrotherapy. Soak in a bubbly beer bath, complete with an Infrared Sauna and luxurious rain shower, for the ultimate relaxation and wellness benefits.

Denver’s February offerings provide a rich amount of indoor experiences, ensuring that the chill in the air won’t dampen your spirits or make you feel too stir crazy. Whether you’re an art enthusiast, a sports fanatic, a culinary adventurer, a music lover, or simply seeking relaxation, the city has curated plenty of indoor events to make your February memorable. 

*Updated as of February 2, 2024