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Old 03-12-2021, 01:10 PM
 
Location: Denver CO
23,494 posts, read 14,943,286 times
Reputation: 36480

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I've got a kid in 11th grade, so moving out of Denver and into a new school is a complete non-starter. More realistically, I might start to think about it when he's out of college.

But on the other hand I'm starting a new job next week so probably (hopefully?) will want to stick around here for a while anyway. And I am not going to try to sell and then buy again in Denver, even if there are some different things I'd look for if I did buy a different house.
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Old 03-12-2021, 03:42 PM
 
5,683 posts, read 10,038,748 times
Reputation: 5088
Quote:
Originally Posted by davebarnes View Post
Probably not. Unless you are planning to move to Cleveland or Buffalo.

There are a whole series of posts similar to this
https://www.calculatedriskblog.com/2...ary-sales.html
at Calculated Risk Blog.

Atlanta Real Estate in February: Sales Up 5% YoY, Inventory Down 57% YoY
Houston Real Estate in February: Sales Up 2% YoY, Inventory Down 38% YoY
North Texas Real Estate in February: Sales Down 6% YoY, Inventory Down 65% YoY
Northwest Real Estate in February: Sales up 10% YoY, Inventory down 44% YoY
Las Vegas Real Estate in February: Sales up 13% YoY, Inventory down 57% YoY
South Carolina Real Estate in February: Sales Up 13% YoY, Inventory Down 46% YoY
Housing Inventory March 8th Update: At Record Lows
Buffalo's housing market is booming too, pretty much there are very few places you can go to and find a market that's on a downswing right now. Cleveland is a bit slower, rated as a balanced market but prices are increasing.

Here's what Redfin says about Buffalo right now:
Many homes get multiple offers, some with waived contingencies.
The average homes sell for about 4% above list price and go pending in around 12 days.
Hot homes can sell for about 12% above list price and go pending in around 7 days.
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Old 03-12-2021, 05:53 PM
 
Location: Berkeley Neighborhood, Denver, CO USA
15,993 posts, read 24,126,512 times
Reputation: 27726
Quote:
Originally Posted by Willy702 View Post
Buffalo's housing market is booming too...
Nice slap. I did zero research on Buffalo. Remind me not to move back there. 4 years was enough.
OK, how about Laurel, MS?
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Old 05-02-2021, 06:39 AM
 
Location: Colorado Springs
6,201 posts, read 6,644,514 times
Reputation: 21477
“Insane” housing market: More metro Denver buyers willing to pay whatever it takes to get a contract

The premium over-list price is now at an all-time high

https://www.denverpost.com/2021/05/0...hot-zip-codes/

"Metro Denver’s housing market has run hot for nearly a decade now, so nobody would blame it for taking a breather, especially a year into a pandemic. Instead, the frenzied pace has only sped up, shattering all kinds of records, including how much buyers are willing to pay above a seller’s asking price.

Gina Roth, an agent with the New Era Group at Your Castle Real Estate in Denver, experienced just how heated things are getting earlier this month on a listing for a Lakewood home. The property generated 74 showings in under four days and snagged 15 serious offers from buyers, all above the list price of $590,000.

How desperate were buyers? The winning bid came in at $687,000, a premium of $97,000 or 16% above a carefully considered offering price.

“$30,000 over the list price used to be fantastic,” Roth said. “Now it won’t get it done.”
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Old 05-02-2021, 12:30 PM
 
5,683 posts, read 10,038,748 times
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What does a breather look like anyways? Just 4% growth? As long as supply continues to be added at a snails pace prices aren't going to slow much. I'm sure the above list bids will die down but these people who manage to buy now will just find that their over list bid just got in front of the market's growth so a year from now the house will be with what they paid.
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Old Today, 04:40 AM
 
Location: Colorado Springs
6,201 posts, read 6,644,514 times
Reputation: 21477
Metro Denver housing crunch squeezes buyers, agents

High demand for homes likely to extend through 2022


https://www.denverpost.com/2021/05/0...ousing-crunch/

"Only 1,921 homes and condos were for sale at the end of March in a metro area with more than 3.2 million people, according to the Denver Metro Association of Realtors. The average closing price hit a record high of $674,990 in March, a 19.3% gain from March of last year.

“Despite the brief slow down during initial lockdown orders, the real estate market shows no signs of slowing,” says John Skrabec, president of Live Urban Real Estate.

“The only thing standing in the way is a lack of inventory, which is causing frustration with both buyers and their agents. The pandemic has only exacerbated the shortage of homes to purchase.”
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Old Today, 09:06 AM
 
Location: Chicago 'burbs
202 posts, read 107,607 times
Reputation: 295
Quote:
Originally Posted by Vision67 View Post
Metro Denver housing crunch squeezes buyers, agents

High demand for homes likely to extend through 2022


https://www.denverpost.com/2021/05/0...ousing-crunch/

"Only 1,921 homes and condos were for sale at the end of March in a metro area with more than 3.2 million people, according to the Denver Metro Association of Realtors. The average closing price hit a record high of $674,990 in March, a 19.3% gain from March of last year.

“Despite the brief slow down during initial lockdown orders, the real estate market shows no signs of slowing,” says John Skrabec, president of Live Urban Real Estate.

“The only thing standing in the way is a lack of inventory, which is causing frustration with both buyers and their agents. The pandemic has only exacerbated the shortage of homes to purchase.”
by year 2023 going at this rate + FOMO buyers, the average closing price will hit close to $1 million. What times are we living
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Old Today, 12:31 PM
 
Location: Denver
3,991 posts, read 7,310,146 times
Reputation: 5384
Quote:
Originally Posted by Di3s3l_Pow3r View Post
by year 2023 going at this rate + FOMO buyers, the average closing price will hit close to $1 million. What times are we living
We’re living in times of historic land grab. People looking for starter houses are competing with hedge funds diversifying their asset portfolios with tangible goods that have better ROI and less risk than most securities. This is fallout from dominoes that started falling in 2008. Pandemic just accelerated it. A more cynical view would be calling it the rise of techno-feudalism.
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