"The most difficult thing is the decision to act, the rest is merely tenacity"

- Amelia Earhart

Summer is officially here. My parents came to town and watched Leo's soccer team complete their fifth straight victory on the season with our 2 cheerleaders on the sideline rooting on their big brother!

Market Update

I've often tried to articulate that since 2022 (when interest rates started heading north), home buyers have continued their willingness to pay more on a consistent basis. However, that's not reflected in home prices, instead it's being absorbed within an increase in interest rates. This how been confusing and difficult to explain, however the Denver Association of Realtors released an article this month that articulates this point much better:

"Denver home prices are not anomalous. From May 2017 to May 2026, the median sale price grew from $382,000 to $615,000, a six percent average annual increase that mirrors the market's long-run historical norm. That same six percent annual trend holds when measured from March 2020 through May 2026. The pandemic surge and subsequent flattening settled into a textbook appreciation curve.

In March 2020, a buyer purchasing at the $455,000 median price with 10 percent down and a 3.8 percent rate would have carried a monthly principal and interest payment of $1,866. Had rates remained at 3.8 percent, normal six percent annual appreciation would have brought that payment to approximately $2,580 today, consistent with Denver's historical trajectory. Instead, at 6.5 percent, the payment on today's median of $615,000 is $3,498. That is an 87 percent increase in six years. The price appreciation accounts for roughly $714 of that monthly difference. The rate increase accounts for $918. The rate isn't compounding the affordability problem. It is the affordability problem."

The question is, whether home prices will break above the 2022 record high, or continue in this holding pattern. Last month I touch on this question and I wanted to see the May results. Above is the latest chart showing the median and average close prices. One thing that stands out to me is that for median closed home prices, we are breaking above the levels we've see each year following the record high in 2022. Although, the market looks substantially more balanced.

Just look at the graphic below, from May 2022. Our Active Inventory was only 3,652. Compared to 12,259 today. Needless to say, the housing market in Denver looks a lot different, but to reiterate what I've been saying the last few months, we're likely looking at a more healthy and balanced market moving forward. In May of 2022, we saw the same median closed price as we did in May of 2026 ($615,000).

Join us on August 8!

I want to invite you to join us for a BBQ, Kona Ice Truck, fun, and the pool! To celebrate the end of the summer before school starts, we will be hosting a fun event at:

Morse Park in Lakewood on Saturday, August 8 from 2 - 5pm.

Please RSVP by emailing me if you can make it and we will have free tickets for the pool waiting for you! Or, just come and enjoy relaxing and enjoying music and food. More details to come...

Closed

4455 Zephyr St., Wheat Ridge

A special congratulations to my clients who officially closed on the sale of the home they bought 40 years ago! What a history and memories this place has. We're excited for the new homeowners, and I wish you the very best with the new chapter of your life out in Tennessee!

4555 Gray Wolf Lane, Castle Rock

Congratulations to my clients in Castle Rock for the successful sale of your home! This beautiful 'show home' was such a fun project as it stood out from the rest. Best of luck on your journey down in Florida and new adventures on the beach!

6233 S Dover St., Littleton

Walking distance to Clement Park in Littleton, a special congratulations to my clients for finding a great home, great location, and start to a new chapter filled with plenty of Home Depot trips!

Coming Soon...

13537 Victory Lane, Carr

Views, views, views! Sitting on 40 acres, this incredible unique home piers off into Colorado's most beautiful sights. Coming soon will be a new deck, renovated interior, new front patio, an upgraded exercise room, kitchen, and a whole lot more. It's not hard to see why you won't find another home like this one. Stay tuned for our 'unveiling.'

1729 Santa Fe Mountain Rd., Evergreen

Stayed tuned for this AMAZING mountain home. Best part? Your own private views of the Continental Divide and some of the best panoramic views in Evergreen. More to come on this gem soon...

Purchasers Settlement Statement?

I sat down with Casey Snyder of Land Title to address many questions I receive when you purchase a home. Learn the role of the title company in the home purchasing process:

Don't forget to wear sunscreen!

Travis Carey

Broker Assoc.

M: 607.435.5113

Travis.Carey@Compass.com

TravisCarey.com