Offered by: Jan Hepp-Struck, Hepp Realty
As I watch the statistics on the housing trends reports and then read the various commentary and projections from national experts, I’m reminded of the lyrics to Bob Dylan’s “The Times They Are A-Changin’. That song was originally released in 1964, yet the lyrics seem as relevant today as they were then, on a variety of fronts, including the current housing market. What is, wasn’t, and what will be is not…
Because the trend of working from home doesn’t seem to be lessening all that much for many industries, the necessity of close proximity to the office has continued to wane. This has allowed home buyers to expand their search, venturing further out to the suburbs and beyond, including different states.
Colorado continues to rank in the top ten percent of the most expensive of the 50 largest metro areas, yet active listings for the metro Denver area are down nearly 40% over last year, and average days on the market has also decreased. The national median price is up more than 10% year over year but growing at a slowing pace because an increasing percentage of smaller starter homes is becoming available as buyers upgrade to homes with more than two
thousand square feet in order to allow for separate office and more living space to fit changing lifestyles as a result of Covid.
In a nutshell, numbers can be very deceiving and context, like location, is most definitely important. Likewise, timing and expertise can make a bigger difference than you might think! For proven expertise in establishing your home value and/or searching for a new or existing home, please call Jan at (303) 520-4340.