With summer behind us, home sales and active listings in the Denver area have continued to drop. According to this Denver Post article “It is common for the number of active residential listings in metro Denver to drop between September and October as activity slows. Since 1985, that monthly drop has averaged around 5.8%. October’s inventory decline of 15% marks the second largest on record after a 16.8% decrease in October 2017, according to the report.
“If you are a picky buyer, you must be patient as there are clearly not a lot of available properties,” said Andrew Abrams, chairman of the DMAR Market Trends Committee, in comments included with the report.
That said, the tight supply isn’t providing sellers the same advantages it did earlier in the year. While there is still a premium paid over the list price of 101.8%, Abrams said extreme bidding wars are less common.
“Listings are still getting offers but far fewer than we saw this past summer,” said Jenny Usaj, co-owner of Usaj Realty and a member of the DMAR Market Trends Committee, which compiles the report. “A few of our recent listings received only two or three offers. As such, the cooler fall season makes it a great time to buy since and — from what we have seen — there appears to be less buyer competition.”’
Click here to read the Denver Metro Real Estate Market Trends Report for November.
Baseline is an up-and-coming neighborhood that sits at the junction of I-25, Northwest Parkway and Baseline Road, in Broomfield, Colorado. This spot completes the Denver/Boulder triangle with easy access to both locations. Baseline was designed for people who crave urban living but love the great outdoors. It will be a walkable community with 145 acres of parks, farms and natural open space, yet filled with everything you need right out your front door.
What makes Baseline different? Sustainability lies at the heart of Baseline. Pollinators allow plants to reproduce, crops to seed, fruit to grow and native landscapes to thrive. It is with this in mind that the pollinator-friendly ecosystem was developed. Baseline’s parks and urban gardens were designed to support this and will accompany the pedestrian-cycle friendly trail system throughout the community.
The Butterfly Pavilion will join Baseline as they set the new standard for sustainability. An 80,000 square-foot, state-of-the-art invertebrate zoo and research center will reside in the heart of Baseline’s Center Street. A hotel, drafthouse, fitness studio, Adams 12 STEM school, various shops and restaurants are all slated to hold space in the Center District.
The West Village is a residential area and is currently being built. KB Homes, David Weekley, Heritage and Thrive Home Builders will develop 186 multifamily homes and Park40 Apartments will offer 313 apartment homes within Baseline.
KB Homes
KB Homes: The Baseline Villas are lower-maintenance attached homes. There are 5 floorplans ranging from 3-6 bedrooms with private side yards and attached two-car garages, with options for lofts or finished basements. Starting from the low $400s.
David Weekley
David Weekley: Two single-family home collections- The Peaks and The Pinnacle. Two story floorplans, ranging from 1,800 to 2,700 square feet with options including first-floor owner’s retreats and rooftop decks on certain plans. Starting in the mid $400s.
Meritage Homes
Meritage Homes: Townhomes made for modern living, these smartly designed 3-4 bedroom, 3.5 bath homes, from 1,858 to 2,181 square feet, offer a contemporary take on low-maintenance living. Flexible floorplans. Energy efficiency is standard. Starting from the low $400s.
Thrive Home Builders
Thrive Home Builders: DoMore Rows reinvent the rowhome for Colorado. This solar powered three-story collection comes with a garage-door equipped first-floor flex space- perfect for an artist studio, bike shop or open air entertainment room. Available with 2-3 bedrooms, an oversized 1 or 2 car garage, from 1,463 to 2,014 square feet. Starting from the high $300s.
Park40 Apartments
Park40 Apartments: Homes ranging in size from 568 square foot studios to 1,434 square foot 3 bedrooms. Leasing Spring 2021.
The development of the East Village will follow after the West Village and Baseline’s Center Street are complete. The East Village will add more residential space which will house more apartments, rental townhomes and affordable housing.
If Baseline sounds like a community you would like to learn more about, do not hesitate to reach out with any questions! I would love to help however I can. Email me @ Carolyn@5280coloradohomes.net
carolyn5280coloradohomes.net 