North Metro Denver Real Estate News May 2018

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Another month, another record for Denver home prices
Two records were reached once more in the metro housing market in May: highest average price and lowest average days on the market. At $540,624 for a single-family home, the average price continues to climb every month. The year-to-date average, $523,255, is up almost 11% from this time last year. The median price year-to-date, $442,450, is up almost 10%. Despite that, homebuyer demand remained strong with an average of only 18 days on the market.
Read article – Denver Business Journal
3 Tenant Screening Checks Landlords Fail to Do
Tenant screening is more than a credit or background check. But many landlords are failing to gather critical documentation. Thirty-seven percent of landlords fail to collect paycheck stubs; 67% don’t ask for Social Security cards; and 20% never ask to see a driver’s license. But all three are critical to screening tenants and avoiding losing “thousands” in lost rent.
Read article – Realtor Magazinex

Wealthy out-of-town buyers push up Boulder home prices
The average price of a single-family home in Boulder has risen to $1.2 million thanks to a spate of sales of $2 million-plus homes. There were 18 such first-quarter sales in the city. That’s up from five during last year’s first quarter, and more than triple the five-year high. Multi-million dollar deals have even pushed up the average price of more affordable condos and townhomes.
Read article – Denver Post

Why You Should List in the Middle of the Week
If you want to sell a home for the most money, list it on a Wednesday. If you want to sell it in the fastest amount of time, list on a Thursday. These are the findings from a recent study, which analyzed a sample of 100,000 homes that sold in 2017. Homes listed on a Wednesday sold for an average of $2,023 more than homes listed on a Sunday-the worst day of the week to list, according to the study.
Read article – Realtor Magazine

Additional articles that you might find of interest:

The Right Landscaping Can Increase Your Home’s Value
Read article – Realty Times

Inventory of homes for sale in Denver surges in May
Read article – Denver Post

Fake rental ads are everywhere, and Colorado consumers need to watch out
Read article – Denver Post

Effective Staging Ideas Can Transform Your Home
Read article – Realty Times

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