"History may not repeat itself, but it rhymes"

- Mark Twain

A special Happy Mother's Day this past month to my beautiful wife, Amanda. Leo is learning how to build and install a fence, Ava became a Yankee fan (woohoo!), and Grace is our wild child!

Market Update

Jumping into the numbers this month and we see what we expected from last month: a 2.35% increase in closed homes and a 12.5% DECREASE in the Median Days in the MLS. As we entered into the nicer spring weather (although this winter was pretty calm), we've seen a tick up in activity across the entire market. Last month, the median close price was $590,000, now we see a 2.54% jump up to $605,000. Needless-to-say, the housing market is not nearly as stagnate as it's been in the past few months.

One thing that sticks out a little here is the 17.19% increase in Active Listings. **Important for Sellers** There are OPTIONS for buyers. If you're considering selling your home, you need to evaluate your competition within your neighborhood. Ask yourself: what has sold, what hasn't sold, how long has each home sat on the market, why did one house sell quickly while another one sat for quite a while with multiple price reductions? There's a lot more to that, but the point I'm making here is that you are in competition with the other homes because buyers have 11,539 options! Your home has to provide something different, maybe that's price, finishes, presentation, or an array of additional possibilities (email me if you'd like my opinion specifically on your home).

Lastly, here's my favorite graphic each month/quarter/year. This shows us the median/average closed price of homes in the Denver Metro over the past 10 years. As is obvious, since June 2022, things have been pretty sideways, however we are seeing an increase as of lately and the big question remains: Will this sustain, or continue in this holding pattern for another cycle? Personally, as I mentioned last month, I believe we're seeing the market grinding upward. Probably at a slower pace than we saw in the late 2010's, but the shock of inflation, interest rates, and recovering from Covid have all started working their way through the system. I don't think we'll see things return to how they used to be (homes doubling/tripling in value over the next 12 years), but rather a healthier and more balanced market moving forward, with smaller (and healthier) price appreciation.

Back to School Haircut?

Okay, I get it, we're just getting out of school, but later this summer, we (Summit Home Sales Group) will be offering 'Back to School' haircuts in the park. Stay tuned for dates and details in next months' newsletter!.

Under Contract

4455 Zephyr St., Wheat Ridge

Congratulations to my sellers who found the perfect, may I repeat: Perfect, buyer for this home. This is a special home, built in 1948 with the original character throughout. You simply don't find homes like this anymore. Click the video above to view this piece of art.

4555 Gray Wolf Lane, Castle Rock

After 4 Open Houses, a neighborhood video, and a Parade of Homes, the perfect buyer stepped forward to get this home under contract. It's hard to believe when you look at the photos, that this isn't staged. The Crystal Valley subdivision of Castle Rock is an amazing neighborhood and will soon be joined by a 120,000 sq ft Costco! Congratulations to my clients on finding the right buyers!

Closed

166 Hummingbird Lane, Golden

Sitting on 1.3 acres on the western side of Golden, this home has officially welcomed its new owners. A special congratulations to our clients in the successful sale of this home and here's to life's next journey!

1293 Marshall Ct.

I've mentioned this before, but this home was special to me because 15 years ago, my realtor helped me buy my first investment. At the closing, he gave me the Rich Dad, Poor Dad book. Congratulations to my client for starting the wonderful journey of real estate investing!

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.'

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...

Coming Next Month

I sit down with Closing Agent: Casey Snyder of Land Title Guarantee, to breakdown settlement statements and explain different line items & questions we're commonly asked at closing.

Wishing you a Happy Memorial Day and beginning to your Summer!

Travis Carey

Broker Assoc.

M: 607.435.5113

Travis.Carey@Compass.com

TravisCarey.com