hot properties: russell wilson’s cherry hills mansion and 4 more listings heating up the market this month

hot properties: russell wilson’s cherry hills mansion and 4 more listings heating up the market this month

According to the Denver Metro Association of Realtors (DMAR), our city’s luxury real estate landscape saw a major shift in February. Sellers stepped up with 689 new home listings in February, representing a massive 59 percent increase from January. For context, this is far above the 13 percent national average, and marks the most significant jump in Denver in nearly three years.

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denver homebuyers seeing more choices on market at start of 2024

denver homebuyers seeing more choices on market at start of 2024

The number of homes on the market typically dips during the end of the year and starts to rebound in January ahead of peak spring season. This year, the housing market is showing signs of more optimism as sellers listed more homes than at the same time last year.

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denver has a new venue for sick views: a new floor at the colorado convention center

denver has a new venue for sick views: a new floor at the colorado convention center

A very tall and very long escalator just opened in the Colorado Convention Center, stretching above its usual expo halls to a brand new floor. Officials and downtown boosters ascended the moving staircase on Thursday, to christen the building’s brand new Bluebird Ballroom. It’s surrounded by floor-to-ceiling windows, plus a long patio on one side, that offer panoramic views of the mountains.

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the current state of colorado's real estate market

the current state of colorado's real estate market

The largest single factor continuing to impact Colorado’s housing market is the upward trend in interest rates, percentage points that have not been seen in for decades.

Colorado’s statewide housing sales report for September showed higher mortgage interest rates are complicating what is traditionally a slower buying and selling season, not only in the Denver metro area, but across the state, according to the Colorado Association of Realtors report.

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denver's new builds can't meet housing demand

denver's new builds can't meet housing demand

New Denver homes are popping up and selling quickly, but supply still can't match demand.

Why it matters: As U.S. mortgage rates hit a 20-year high, golden handcuffs are locking up Denver's housing inventory, and that's fueling buyers' appetite for new builds, according to real estate experts.

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the hottest U.S. housing markets

the hottest U.S. housing markets

Much of the housing market remains frozen in place as mortgage rates trend up and existing homeowners remain reluctant to give up their sub-4% interest rates. This means a "hot" market today is more likely one that has returned to the basic fundamentals of demand, supply and relative affordability.

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