March 2024

May 15, 2024

MARCH NEWSLETTERHOTTEST HOUSING MARKET | SPRING HAS SPRUNG | RECIPE OF THE MONTHDENVER NAMED HOTTEST HOUSING MARKET

The Denver, Colorado Metropolitan Statistical Area (MSA) was ranked the hottest housing market in the United States for the second year in a row.The ranking was compiled using the Housing Market Index for December 2023, an interactive data set which aggregates a large variety of public and private data points categorized by their impacts on housing demand, supply and financing. Index values range on a scale of 1-100 with 100 being the hottest.Denver ranked #1; here are the other top 4 housing markets as ranked by U.S. News and World Report:

  • No. 1 – Denver
  • No. 2 – Raleigh, North Carolina
  • No. 3 – Virginia Beach, Virginia
  • No. 4 – Durham, North Carolina
  • No. 5 – Charlotte, North Carolina

Why is the Denver market so hot?

U.S. News and World pointed to several potential factors for why Denver continues to be such a hot housing market.

For one, U.S. News said the area enjoys a relatively low unemployment rate, as well as few mortgage delinquencies and a low rental vacancy rate.

However, supply is a big issue working against Denver, with not enough houses to fuel the current demand. One of the ways this is measured is through the number of months that it would take for all current listings to be exhausted.

As of December, Denver’s housing supply only had enough listings to last 1.9 months if no new houses were added, which was below the nationwide average of 2.6 months.

Other high-ranking Colorado cities are: Greeley, Fort Collins, and Colorado Springs. You can read the full report here.

THE SPRING SELLING SEASON HAS SPRUNG

FUN FACT: Average January Denver area home prices were up 5.4% year-over-year at $660,000, according to the most recent Denver Metro Association of Realtors report. Five Four is named after 5.4% - the average rate of home appreciation in the U.S.

With the start of the year, the Denver housing market shows hopeful trends ahead of the spring selling season.

The number of homes on the market spiked last month in the 11-county Denver area, according to the Denver Metro Association of Realtors’ January Market Trends report.

New listings grew 14.7% year-over-year, the report said, from 2,859 to 3,280 last month. It was a whopping 89% increase month-over-month.

“As we kick off the new year, buyers appear to be wearing rose-colored glasses, ready to put themselves back in the real estate market as they finally have more choices,” DMAR Market Trends Committee Chair Libby Levinson-Katz said in the report.

“The spring selling season will likely be strong this year due to pent-up demand and more favorable lending terms,” Levinson-Katz said in a news release.

Homes are closing closer to listing price compared to last year, according to the report. Homes sold for 98.5% of the listed price last month.

The Federal Reserve kept interest rates steady in their last meeting and Fed chairman Jerome Powell told ‘60 Minutes’ in an episode aired on Sunday that the central bank is considering cutting rates this year if they have more proof inflation is improving.

If you are considering selling your home, the spring season is the best time of year to sell. Please call or text me so I can help get you the best price and terms for your home.

DENVER RESTAURANT WEEK: MARCH 1-10

Denver Restaurant Week is a fan favorite. For one week only, diners can enjoy a prix fix menu from some of Denver's hottest restaurants for only $52.80 per person. Different restaurants have different menu and pricing options. It's a great way to try some of Denver's newest (or more pricey) places without breaking the bank. You can find the full schedule and list of participating restaurants here. RECIPE OF THE MONTH: ASIAN CHICKEN LETTUCE WRAPS

This receipt exceeded my expectations. It was truly just as good as P.F. Chang's. The sauce is what makes it - don't skip or substitute the ingredients. I am sure you can sub the ground chicken for tofu, if you're looking to make this a plant-based meal. Enjoy! INGREDIENTS

  • 1 lb ground chicken
  • 1 TBS peanut oil
  • ½ onion minced
  • 1 cup red or green pepper diced
  • 1 8 oz can water chestnuts drained and minced

FOR THE SAUCE:

  • 3 TBS soy sauce
  • 3 TBS hoisin sauce
  • 1 TBS sesame oil
  • 1 TBS rice vinegar
  • 1 TBS peanut butter
  • 1 TBS honey
  • 2 tsp sweet chili sauce
  • ½ tsp garlic powder
  • ¼ tsp powdered ginger

DIRECTIONS:

  • Whisk together sauce ingredients until well combined. If you use a firmer peanut butter you may need to microwave the mixture for 30-60 seconds in order to melt it and ensure everything is well-mixed.
  • Heat 2 TBS peanut oil in a frying pan. Once hot, add ground chicken.
  • Cook until some pieces are starting to brown. Add onion and cook for 5 minutes or until the onion is becoming translucent.
  • Add the peppers and water chestnuts and cook about 5 minutes or until peppers are becoming soft.
  • Add sauce and simmer on low heat until the chicken and veggies are evenly coated and everything is heated through.
  • Serve in lettuce leaves, on top of your favorite Asian salad, or over noodles or rice!

Thinking of Buying or Selling?  Know someone who is?I am NEVER too busy for your referrals!

OUR PROMISE TO OUR CLIENTS

This could be one of the largest and most important financial decisions you will make in your lifetime, and you deserve an experienced partner that understands the intricacies of Colorado real estate.

We promise to always keep you informed about the rapidly changing market and educate you throughout the entire process. We promise to protect your best interests and treat your home or investment like it’s one of our own. We promise to work our hardest to find the perfect home for you and your family with as little stress as possible.  

We value your trust and hope to continue supporting you in your lifetime even after your sale or purchase is complete. This goes beyond real estate to us, it’s the beginning of a lifelong friendship.

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