www.DISCOVERCASTLEPINES.com 2020 Was A Record Setting Year in Metro Denver The low inventory is because buy- er demand is higher than ever. Home sales in the 2nd half of 2020 were 16.7% higher than homes sales in the 2nd half of 2019. The average home price increased 8.4% to $573,590 for a detached single family home. The 4th quar- ter 2020 average sales price was $605,476, which was 16.9% higher than the $518,002 average sales price in the 4th quarter 2019. The low inventory is going to con- tinue to drive up home prices in metro Denver in 2021. It will be a great time to sell your home for top dollar. Buyers will have to be prepared to make offers above list price for well priced and well maintained homes. If you have more questions about the real estate market or what your home is worth, feel free to call or email me. 2020 was a record setting year in metro Denver real estate. No one would have predicted this with COVID and the lockdowns that occurred in March through May. Despite slow sales in April and May due to COVID lock- downs, more homes sold in 2020 than in any previous year in met- ro Denver. 43,056 homes sold in the 6 county area, which was an increase of 5.6% from the previ- ous sales record set in 2019 when 40,644 homes sold. The most shocking record set was the low inventory. At the end of December 2020 there were only 1,486 detached single family homes for sale. Prior to 2020, the lowest ending inventory in the past twenty years was 3,301 homes for sale, which was recorded in February 2017. Oc- tober, November and now De- cember 2020 all had lower ending Doug Hutchins —ABR, CRS, GRI, MBA— DK Hutchins Real Estate, Inc. Kentwood Real Estate DTC Broker Associate Cell: 303.886.3437 [email protected]inventory levels. Despite low inventory levels 3,399 homes closed in December, which set a new December sales record. The December sales were 15.8% higher than the 5 year December average of 2,935 home sales. Based upon the ending inventory levels and the 2020 sales pace, there is only 12 days of inventory available in the metro Denver mar- ket. A balanced market would be 120 to 150 days of inventory (4 to 5 months). There is a perception in the mar- ketplace that inventory is low be- cause fewer sellers are deciding to sell their home. This actually is not true in the 2nd half of 2020. Since June 2020, 22,202 homes have been listed for sale. This is a 7.4% increase in new listings com- pared to the 20,666 homes listed for sale in the second half of 2019. 3 REASONS WHY SELLERS HIRE THE DOUG HUTCHINS TEAM TO SELL THEIR HOME 1. MORE MONEY The Hutchins Team sells Castle Pines homes for 2.0% more money than the average agent. 2. FASTER SALE The Hutchins Team sells Castle Pines homes 3.0 times faster than the average agent! 3. BEST IN CUSTOMER SERVICE 11 STRAIGHT YEARS! Rated by Five Star Profession- als from 2010 to 2020 as one of Denver's top agents based on past client satisfaction. MLS Stats Castle Pines 1/1/19-12/31/20 Excludes New Construction and Sales over $1M * Doug and Seller must agree on price and closing date. Real Estate News ~ 4th Quarter 2020 CASTLE PINES Your Home Sold GUARANTEED Or I’ll Pay You $5000 * What Did the Home Down the Street Sell For? Find out what homes down the street sold for and what homes are for sale in your neighborhood! Call 1-800-318-7541 and enter ID# 1041 to receive your neighbor- hood list! Want to Sell Your Home But Scared You Won’t Find a Home to Buy? report that reveals the 6 best strategies homeowners can use in a low inventory market to make sure they find and purchase a home they really want without taking big financial risks, owning two homes at the same time, or being homeless. To hear a brief recorded mes- sage about how to order your FREE copy of this report, call toll free 1-800-318-7541 and enter 1011. You can call any time, 24/7 to order your free special report to find out how you can find a home you love and sell your current home. lem is for a homeowner to pur- chase their next home before selling their current home. However, most homeowners do not have the financial capacity to purchase their next home with- out selling their current home. Even if a homeowner has the financial capacity to purchase the next home without selling their current home, many homeown- ers simply do not want the risk or burden of owning two homes at once. This can be a complicat- ed and frustrating dilemma! To address this issue, industry experts have created a special Low home inventory in the metro Denver real estate market has created a serious problem for homeowners wanting to sell their home and purchase another home in metro Denver. With very few homes to choose from, homeown- ers are scared to sell their current home because they are unsure if they will be able to find a home to purchase that meets their needs and is within their budget. So in- stead of selling their current home, they stay and make due even though their current home no longer meets their needs. The easiest solution to this prob-
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Transcript
www.DISCOVERCASTLEPINES.com
2020 Was A Record Setting Year in Metro Denver The low inventory is because buy-
Finished Walkout Basement! Mountain Views! Large Master Suite.
Free Recorded Info.
1-800-318-4511 ID #1022
www.DISCOVERCASTLEPINES.com
Historical Interest Rates (30 YR fixed
Freddie Mac)
12/31/20 2.68%
9/30/20 2.89%
6/30/20 3.16%
3/31/20 3.45%
12/31/19 3.72%
WHAT THEY ARE SAYING ABOUT DOUG AND HIS TEAM
Preparing and listing your home can
be quite stressful. Doug Hutchins and
his entire team helped make the pro-
cess easier. From the pre-inspection
and staging , along with Doug’s superi-
or marketing strategies and
knowledge of the current housing
market in our community, our home
sold one day after it was listed.
His team kept us up to date on infor-
mation from the start until the final closing. As an added bonus, he provided
the buyers with a home warranty! We greatly appreciate all those involved
and highly recommend Doug Hutchins as your choice of realtors.
Todd and Ria —Castle Pines
FREE
HOME SELLER KIT
21 page report detailing everything you need to know about selling your home including staging tips, how to price your home, common inspec-
tion traps and negotiation strategies.
Go to:
CastlePines SalesKit.com
to order your Free Kit!
Single Family Homes 2018
Jan 1—Dec 31 2019
Jan 1—Dec 31 % Change from 2018
2020 Jan 1– Dec 31
% Change from 2019
Average Sales Price $618,547 $623,681 0.8% $686,498 10.1%
Average Square Footage of Homes Sold 2,913 2,706 -7.1% 2,759 2.0%
Average Price per Square Foot $216 $237 9.7% $255 7.6%
Average Days To Sell 82 61 -25.6% 59 -3.3%
Number of Homes Sold 19 34 78.9% 142 317.6%
CASTLE PINES MARKET STATISTICS—New Communities
New Communities include The Canyons, Castle Valley and Castle Pines Town Center
Sales data for the new communities only includes sales placed in REcolorado® by builders and does not reflect all home sales in the new communities. Based on information
from REcolorado®, Inc. for the period 01/01/2018 through 12/31/2020. Not all properties were listed and/or sold by Kentwood Real Estate. Content maintained by REcolora-
do®, Inc. may not reflect all real estate activity in the market.
6 Things You Must Know Before Obtaining a Mortgage
Homebuyers often make 6
common and costly mistakes when they are shopping for a
mortgage. Mortgage regulations have changed significantly over
the last few years. Options have re-appeared for buyers
that had been eliminated imme-diately after the foreclosure crisis of 2008 to 2010. Subtle
changes in the way you ap-proach mortgage shopping, and
even small differences in the way you structure your mort-
gage, can save or cost you liter-ally thousands of dollars and
years of expense.
Whether you are about to buy
your first home, or are planning to make a move to your next
home, it is critical that you in-form yourself about the factors
involved before you buy. To address this issue, Industry In-
siders have prepared a FREE special report entitled "6 Things
You Must Know Before You Buy".
There are a number of ques-
tions you must ask yourself be-fore you commit to a certain
type of mortgage. How long do you think you will own this home? What direction are in-
terest rates going in, and how
quickly? Is your income expected to change in the near
term?
Having the right information be-fore deciding how to finance
your home is critical. To hear a brief recorded message about
how to order your FREE copy of this report, call toll-free 1-800-
318-7541 and enter 1004. You can call any time, 24 hours a day,
7 days a week. Get your free special report NOW to find out
what you need to know before you buy a home.
Receive Top
Dollar For
Your Home!
Free report reveals how
to set your asking price
when selling your home.
To order your
free report,
call
1-800-318-7541
and enter ID# 3016
PRSRT STD US POSTAGE
PAID Permit #2897
Denver CO
Doug Hutchins 4949 S. Niagara Street, Suite 400 Denver, CO 80237
If your home is currently listed, please disregard this notice as it is not our intention to solicit other broker’s listings. All information deemed reliable but not guaranteed. *Doug and Seller must agree on Price and Closing Date
CASTLE PINES REAL ESTATE NEWS 4th Quarter 2020
Your Home Sold
GUARANTEED
or I will Pay you $5000 *
FIND OUT WHAT YOUR
CASTLE PINES HOME IS WORTH ONLINE
For a Free, Quick Online
Home Valuation Visit:
www.CastlePinesHomeEvaluation.com
IN THIS ISSUE
-Homes available for sale at the end of December in the Original Communities was 85% below the 5 year average! -Want to sell your home but worried you won’t find a home to purchase? 6 strategies to mitigate this risk! -Average home prices increased 12.0% from the 1st half of the year to the 2nd half of the year in the Original Communities! -6 Things You Must Know Before Obtaining A Mortgage
Average Sales Price $757,286 $748,186 -1.2% $760,677 1.7%
Average Square Footage of Homes Sold 3,018 2,887 -4.3% 2,868 -0.6%
Average Price per Square Foot $253 $262 3.6% $267 1.9%
Average Price per Finished Square Foot $190 $190 0.0% $201 5.8%
Average Days to Sell the Home 39 43 10.3% 34 -20.9%
Number of Homes Sold 192 192 0.0% 202 5.2%
Excludes new home communities which are The Canyons, Castle Valley and Castle Pines Town Center
Based on information from REcolorado®, Inc. for the period 01/01/2018 through 12/31/2020 for Single Family Homes. Not all properties were listed and/or sold by Kentwood
Real Estate. Content maintained by REcolorado®, Inc. may not reflect all real estate activity in the market.