North Metro Denver Real Estate News 9.6.17

mikejgold Real Estate Leave a Comment

August numbers for Metro Denver housing market
The median price of a single-family home sold in Metro Denver dipped 2.4% from July to August to $410,000 but remains up 7.9% over the year. The median sold price for condos rose 1.8% to $275,000 between July and August and is up 12.9% year over year. Single-family listings spent an average of 27 days on the market, a 6.9% decrease year over year. However, the average time on market for condo listings rose to 38 days in August, a 46.1% increase from a year earlier.
Read article – Denver Post

Crane Watch: Major new projects broke ground in August
After a slight slowdown during the peak of summer, several important new projects broke ground in August, including:
– Lockheed Martin Corp.’s $350 million satellite facility
– The future headquarters of Lakewood-based HomeAdvisor in RiNo
– A 2.4 million-square-foot Amazon facility at I-25 and 144th Avenue in Thornton
– The Lakehouse on 17th condo project near Sloan Lake
Read article – Denver Business Journal

Freddie Mac to Restrict 1% Down Mortgages
Mortgage financing giant Freddie Mac will begin this fall to tighten restrictions on low down payment mortgages that allow borrowers to only contribute 1% of the home’s purchase price. Borrowers will now be required to come up with at least 3% in order to then receive any contribution from a lender.
Read article – Realtor Magazine

Jumbo Loans Get Less Expensive
The interest rate for jumbo loans – those greater than $421,100 – dropped five basis points last week, averaging 3.99% for the week. That is now 13 basis points lower than the conforming rate, which is the largest spread between jumbo rates and the conforming rate since March 2016, according to the Mortgage Bankers Association.
Read article – Realtor Magazine

Additional articles that you might find of interest:

Home resale price gains in metro Denver are gradually easing
Read article – Denver Business Journal

Huge industrial-park project coming to Brighton
Read article – Denver Business Journal

Colorado cities named among ‘best’ real estate markets in the country
Read article – The Denver Channel
From mid-2000s bubble, Denver housing prices have risen more than rest of U.S.
Read article – Denver Business Journal


About the Author