When Will Denver Home Prices Cool Off?

According to a just-issued study completed by CoreLogic, Denver has seen housing costs rise the third quickest throughout a 15 year span, out of 20 major cities surveyed. While metro home prices are expected to keep rising over the course of 2021, the rate of increase is expected to slow down considerably from the current record-setting pace. The average price of a detached home in Denver is $674,990 (April 2021), an increase of more than $40,000 from last month and more than $100,000 above the same period a year ago.

Here’s a CoreLogic graphic highlighting the combined HPI percent change for the Denver and eight other major metropolitan areas. Denver’s year-over-year percent change is the third-fastest among those listed, behind Phoenix-Mesa-Scottsdale and San Diego-Carlsbad.

Click here to read the Westword’s interview with Selma Hepp from CoreLogic in which she explains the cause for the rise in housing costs, if & when we can expect the Denver market to peak, and why there is only a 1.9 year-over-year percentage change expected for the market through February 2021.

Find the Denver Metro Association of Realtors (DMAR) April Market Trends Report here. Here are a few interesting facts found in Market Insights:

  • Colorado is home to low property taxes. According to a study, the two counties with the lowest rates were both found in our state: Jefferson County (0.55 percent) and Arapahoe County (0.57 percent.)
  • Builders are struggling with the cost of building materials ranked as the number one problem by the National Association of Home Builders and availability of building materials ranked second. Local contractors are telling clients to order appliances a year in advance to make sure they arrive on time.
  • The Wall Street Journal notes that there are more real estate professionals than homes for sale in the U.S.- a feat that has only occured once before in December 2019. In January, the National Associaton of Realtors had 1.45 million members, a 4.8 percent increase compared to a year earlier.
  • Rates ticked up to 3.18 percent as of April 1st, a mere 0.25 percent lower than they were a year ago, 1.5 percent lower than a decade ago, 3.75 lower than two decades ago and 15 percent lower than four decades ago.


Reimagined Spaces: This or That

Many people find themselves stumped when it comes to knowing how to decorate their home. One of the best places to start would be to narrow down what your home decorating style is. You could say the top 10 interior design styles are: Contemporary, Mid-Century Modern, Minimalist, Coastal, Rustic, Farmhouse, Scandinavian, Bohemian, Traditional, and Transitional. Today we are going to take a look at two of those popular design styles so you can see which one resonates with you the most.

Look through the following pictures and decide if the first image is more appealing to you, or the second.

If you’re more drawn to the first images in each set, then Coastal could be the decorating style that you’re attracted to most. Here are some tips on how to achieve the Coastal look in your home:

  • Coastal is not nautical. In the simplest definition, Coastal is beachy. Through use of natural light, soft tones, and a clean aesthetic, it’s meant to evoke the breeziness of the beach.
  • Abundant light is the most important element in this home design. Window treatments should be minimal to not distract from the natural light.
  • To keep the vibe relaxed, incorporate natural elements by way of wicker, rattan and light wood.

If you’re more drawn to the second images in each set, then Farmhouse could be the decorating style that you’re attracted to most. Here are some tips on how to achieve the Farmhouse style in your home:

  • Farmhouse is warm, cozy, relaxing and full of charm and character.
  • A neutral color palette will keep your Farmhouse inspired space fresh, clean and current.
  • Mix and match furniture. Think about balancing out the natural materials in the room with things like plush couches, comfy accent chairs, and cushioned bar stools. You can also enhance the feeling of the room by layerings items like throw pillows and blankets into your design.
  • Add industrial accents. Not only are industrial pieces commonly based on the machinery used for farming, but they also happen to be experiencing a spike in popularity right now, making them the perfect common thread to finish off your look.

If you need some home design inspiration, we would love to help you and feature your space on our blog post series, Reimagined Spaces. We invite you to email us a picture of your space along with a short narrative of your dreams for that space.   If your space is chosen we will send you a short questionnaire that will allow Michaela to understand your vision, likes, dislikes and the design aesthetic that most appeals to you.  Michaela will create a design board and provide it along with links to the materials selected that compliment your space.  All reimagined spaces will be featured through this blog.

Please email us at Reimaginedspacesforyou@gmail.com


Reimagined Spaces #3- Master Bath

Michaela Boushie of Addison Tyler Designs and I are excited to introduce you to Reimagined Spaces.  You are invited to follow our newest blog series as we showcase Michaela’s exquisite design talent using your spaces.  We will provide select applicants with a unique opportunity to have a space in your home reimagined. Our vision for this project is to connect homeowners with elevated home design assistance and have a little fun watching your space come to life. We all have a room in our home that “stumps” us from a design perspective. Allow Michaela to provide you with guidance and a professional design board created specifically for your space. 

We invite you to email us a picture of your space along with a short narrative of your dreams for that space.   If your space is chosen we will send you a short questionnaire that will allow Michaela to understand your vision, likes, dislikes and the design aesthetic that most appeals to you.  Michaela will create a design board and provide it along with links to the materials selected that compliment your space.  All reimagined spaces will be featured through this blog.

Let’s get started and have some fun with design. 

Today we are working on a master bathroom that needs a complete overhaul. Chad & Rachel bought this home a few years ago and knew that they would love to remodel the master bathroom someday. Due to an unforeseen leak and possible water damage, they are moving forward with the project now.

The homeowner filled out a questionnaire that we provided so that we could get a feel for their likes, dislikes and the overall esthetic of their home.

  1. What do you consider your style to be?  Some options might be- contemporary, traditional, rustic, minimalist, industrial,  mid-century modern, bohemian, coastal, Mediterranean, modern farmhouse, french country…  please add any others that speak to you.​ I would say our style is traditional with simple lines and a little rustic/earthy flair.
  2. What colors/patterns are you drawn to?  Are there any colors that you would like to avoid? We would prefer something in a neutral palate (shade of tan, brown, etc).  We also like rustic/earth accents like wood, stone, etc.   It is unlikely we will redo this bathroom again during the next 10-15 years of raising our family in this home so something more on the timeless side would be better than trendy.
  3. Would you like to have another (smaller) tub in the room or just a larger shower?I definitely want to keep a tub in the room but would prefer to downsize the tub and upsize the shower.  I do not want/need a jetted tub.
  4. Are you planning to keep the vanities/cabinets the way they are now?I feel the current arrangement works, but we would be open to suggestions!
  5. What would you consider your top 3 most important priorities you would like to see changed?1. Bigger shower 2. Smaller tub 3. Taller vanities with above the counter storage.
  6. What is your budget?Our budget is 15-20k.  Of course we would like to stay near the 15k price point as we will also need to gut our children’s bathroom which backs to the master bath.  The unknown variable is the water damage as we are unsure of the source and won’t know until we start ripping it apart!  The subfloor will definitely need to be replaced with some sort of a plumbing fix.
  7. Do you plan to do this all at once or in phases?​ We will be doing the master bath remodel all at once and likely the kids bathroom too depending on the source of our water issue.

Michaela of Addison Tyler Designs says “Rachel and Chad’s style is very relaxed and welcoming, they particularly love the look and feel of natural elements.

My main goal for this project was to give them an inviting bathroom that is effortless and beautiful! I designed this bathroom with that in mind, while also trying to emphasize a bit of modern flair into the design.”

“I used a few design elements that are simple and rustic, but also chic! The main pieces like the vanity, bathtub and shower system are beautiful pieces with exceptional styling and quality craftsmanship.”

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Please email us a picture of your space at reimaginedspacesforyou@gmail.com.  We look forward to transforming your space into one you love.