Denver Real Estate Discussion / Opinion Thread (NO Data Charts) (Colorado Springs: incomes, moving)

[Timmyy]

Originally Posted by 2bindenver

There is nothing pointing to a stabilization in leasing or real estate sales.

Prices will not level off because of affordability. There are other more expensive markets. If this didn't happen there, it will not happen here.

Prices will not stabilize due to new construction. New construction is $300,000+ in and around Denver.

Record low inventory, low interest rates, 101,000+ new people in Colorado all need to live somewhere.

I say we are looking at 12-15% price increases in 2016, even with mortgage interest rates going up 1% a year.

Decembers numbers should be out soon. I can't wait for January's numbers.

I agree with this. I had two houses go on the market around the corner for me and they went under contract fast. There are just too many people moving into the metro area still.

[davebarnes]

Originally Posted by 2bindenver

New construction is $300,000+ in and around Denver.

Where for $300K?
Erie is not around Denver.
Castle Rock is not around Denver.

[2bindenver]

Denver >Stapleton and Green Valley Ranch
Brighton including Reunion and Potomac Farms
Aurora> High Pointe & Conservatory Greens

[AmFest]

Most of the increases in rental prices and house prices in 2015 happened in the spring. The second half saw little movement. The momentum which started in 2013 is finished. This is a common phenomenon among the hottest real estate markets in the nation.

[emm74]

Originally Posted by 2bindenver

Denver >Stapleton and Green Valley Ranch
Brighton including Reunion and Potomac Farms
Aurora> High Pointe & Conservatory Greens

Conservatory Green is part of Stapleton and is in Denver, not Aurora. I think there's limited availability there, they've opened up two additional neighborhoods in North Stapleton.

Back to the general question, I think that we'll have a much clearer picture in the spring, when there is the typical surge of listings and sales. Looking at that YOY will be the real story. My guess is that demand will remain high and inventory low enough to keep the increases going, although probably at a slightly slower velocity than the last year or two.

[Dirty-Mill]

Originally Posted by ayoitzrimz

So.... It's 2016 now so it's time to make predictions!!

Any armchair predictions for the RE market in Denver for 2016? Both housing and rental - I have not the knowledge or the background to make a prediction so I'm curious what others think

I think the median home price will keep going up in 2016. This increase in the median home price will be the result of a higher inventory of more expensive homes on the market (new homes). There will be slightly more inventory, but it will be in the $400,000+ price range. The same thing will happen with apartments, more inventory (new apartments) in the $1500+ price range.

I have decided the best course of action in this difficult real estate market is to live in a van down by the river.

[2bindenver]

From the DBJ: "After 12 months of record prices, scant inventory and a breathless sales pace, the residential real estate market in metro Denver ended 2015 with more than $20 billion in total sales volume in the year, a 14 percent increase over 2014, according to data from the Denver Metro Association of Realtors.
More than 55,500 properties, including both detached single-family houses and attached condominiums and townhomes, sold in 2015, up from 54,068 in 2014."


Will 2016 break those 2015 records?

http://www.bizjournals.com/denver/ne...s.html?ana=fbk

[davebarnes]

http://www.bizjournals.com/denver/ne...p-housing.html

Zillow predicts Denver to be nation's top housing market in 2016

"Zillow predicts Denver homes to appreciate 5 percent in 2016, expects income to grow 1.1 percent, and predicts an annual unemployment rate of 3.1 percent."

[emm74]

Since I'm not moving, I'd rather see 1.1 growth in my home value and 5% growth in my income!

[TigerLily24]

Originally Posted by davebarnes

http://www.bizjournals.com/denver/ne...p-housing.html

Zillow predicts Denver to be nation's top housing market in 2016

"Zillow predicts Denver homes to appreciate 5 percent in 2016, expects income to grow 1.1 percent, and predicts an annual unemployment rate of 3.1 percent."

The neighborhoods expected to show the greatest growth:

"The five Denver metro neighborhoods predicted to see the biggest home value growth are found in Aurora.

Delmar Parkway: 9.1 percent forecast home value growth

Highline Villages: 8.7 percent forecast home value growth

Centretech: 8.6 percent forecast home value growth

Laredo Highline and City Center North: 8.5 percent forecast home value growth

North Aurora: 8.3 percent forecast home value growth"

Prediction: Denver will have hottest housing market in 2016 | FOX31 Denver