Congratulations to our Kentwood Denver Metro Association of Realtors Honorees
At Kentwood Real Estate we thrive on excelling at our profession, at serving our clients and community and being at the top of our game. One of our local Realtor Associations, the Denver Metro Association, honors top producers each year at their annual Excellence Awards.
This year we had 108, over half of our Denver brokers, qualify in one of the award categories.
We celebrate everyone on this list for their outstanding 2020 production and encourage you to reach out to any Kentwood broker for unparalleled service. Find all Kentwood brokers here.
Diamond | $40 Million+, 100+ Sides:
Kevin Garrett & Matthew McNeill
Denver’s Top Team: Wendy Glazer, Sana Wood, Jacci Geiger, Mary Jones
Neir Team: Stacy Neir, Alex Neir, Laura Bohan Fuller
Titanium | $30-$3.9 Million, 85-99 Sides:
Sarah Clark & Kayla Schmitz
Pam Coakley & Elizabeth Sacerdoti
Doug Hutchins & Leslie Monaco
Hotz Group: Loren (Larry) Hotz, Elizabeth Hotz, Meredith Hotz, Andrea Holeso
Kruse/Nussbaum Team: Steven Kruse, Sandra Kruse, Staci Burns, Jim Nussbaum
theMOVEgroup: Allison Smookler, Gregory Yoshida, Zach Gilbert, Ron Smookler
Platinum | $20-$29.9 Million, 70-84 Sides:
Patty Anton & Greg Card
Tom Gross & Britt Armstrong
Brian Harris & Jamie Harris
Bob Kelly & Sean Kelly
Alan Larson & Todd Landgrave
Ann Lenane & Angela Beldy
Roy Lopez & Jonathan Lopez
Greg Margheim & Kelly Sophinos
Dwell Colorado: Martha Potter-Goldstein, Amy Hulsey, Brian Rosen
September 2020 revealed the toughest market to buy a home in metro-Denver’s history. Housing inventory can’t keep up with the buyer demand, putting us in a very strong seller’s market. The average price for both single-family and condo homes in Denver hit a record high.
“It is incredibly difficult for buyers today, they’re just having to work like crazy,” said Jill Schafer broker at Kentwood Real Estate. “People are having to put all their cards on the table.”
The Denver-area housing market has never been tighter. According to the most recent report by the Denver Metro Association of Realtors, there were 3,989 active homes on the market in January. That is not only the lowest inventory level ever reported for a January, but also the fewest number of homes on the market ever. The record low inventory level resulted in a mere 1.41-month supply of unsold homes on the market last month. Here’s another way to look at it: if every home was sold and no new homes made it to the market, buyers would have no more homes to purchase in a mere six weeks.
Every price strata last month showed a drop in inventory levels from January 2017. Only homes priced at $1 million or more would arguably be considered a buyer’s market, with an inventory of nine months. However, even in that price range, there has been a year-over-year 14.3 percent drop in supply. For homes priced from $100,000 to just under $400,000, there is less than a one-month supply of inventory. Only homes priced between $750,000 and $999,999 would be considered one in balance between buyers and sellers, with about a 5.5 months inventory.
As expected, with such a low supply of homes on the market, home prices continue to rise. The average price of all homes sold last month topped $400,000, rising 8.35 percent to $402,979. The average price of a single-family home rose even more. Single-family home prices jumped 9.25 percent to $448,374. Overall, the sales volume of all homes last month topped $1.2 billion, an 8.31 percent increase from a year earlier.
As winter begins to wind down, with the confluence of a record low inventory and rising prices, now is a great time to call a real estate professional and put your home on the market. It’s an especially great time to sell your home, as mortgage rates remain low. With a 30-year fixed-rate hovering around 4.2 percent, it’s an increase from the very bottom but still extremely low by historic standards.
If you are in the market to buy a home, you are in for a treat. This fall has been the best market for homebuyers in the past few years. According to a recent report by REcolorado, there were 561 more homes on the Denver-area market in October than in October 2014. That is a 7 percent increase in active listings on a year-over-year-basis.
This marked the second consecutive month that more homes were available than in the corresponding month of 2014. In other words, Denver is reversing a two-year-old trend of having a record low supply of homes.
Despite the increase in supply overall, it’s still a seller’s market. According to the Denver Metro Association of Realtors, October ended with a 1.86-month supply of unsold single-family homes on the market. While that’s up from the 1.76 months of inventory in October 2014, it is still less than a two month supply of homes.
However, the months of inventory are not evenly distributed between price points. There is only a three-week supply of single-family homes priced from $200,000 to just under $300,000. But for homes priced at $2 million or more, it is an entirely different story. There is a whopping 28.75-month supply of unsold homes once you top the $2 million mark.
Regardless of the price range, buyers can still take advantage of mortgage rates that are near historic lows. And while the overall inventory is still extremely tight by historic standards, as a consumer it’s always nice to have choices.