What we hear almost every week at the association headquarters is, “I’m moving to Colorado because I’ve wanted to do that my whole life”. But had they moved to Denver or Boulder or Colorado Springs or any of the other cities in the state 10 years ago at the beginning of the 2008-2012 recession, they might have experienced a much different real estate market.
The administrator of this not-for-profit association of Exclusive Buyers Agents is part of a weekly consumer’s real estate show aired on KHOW and the IHeart radio broadcasts every Saturday The purpose is to educate consumers about the current real estate market and to assess strategies consumers can use to stay safer in what many consider to be a bubble in the real estate market.
Prices have continued to climb at a rate of 8-10% for the past 4 years, with no signs of stopping. Putting the housing scenario in a piece of amber for the May 2018 timeframe, one sees that in Colorado Springs inventory continues to go downward, with only 1500 single family homes for sale. They have a median price of $310,000 and an average price of $360,000.
Denver’s inventory when slightly up at the beginning of May and there were 4,000 homes on the market with a median price range of 455,000 and an average price of $540,000.
Consumers are advised to look most closely at the median price of homes for sale, which is the price point where ½ of the homes are above this price point and ½ of the homes are below it. An average of all homes on the market is skewed by a smaller percentage of million dollars and up homes.
The consumer real estate show advises listeners to “be happy” when entering into this market by following a few simple steps. The most important is to be an educated consumer who is able to get an insider track on the real estate game by listening to the show, and going to the free live seminars given by the radio show hosts Barry Miller and Larry Stanley, and guests such as Kathleen Chiras of the Colorado Exclusive Buyer Agents Association, and the national Buyer Agent Search program. The next “boot camp” is Saturday, May 19th in Denver CO from 9:30 am to 12:30 pm.
Topics covered will include the 10 critical steps savvy home buyers must take to be in charge of the real estate buying process, and the 10 critical steps savvy home sellers must take to be in charge of the real estate selling process.