Madison Report | 2016 Q1

MADISON Report Q1

2016 Denver Real Estate Market Update

Q1 quarter 1 real estate market recap 2016 these stats are based on the following 11 Counties: adams, arapahoe, boulder, broomfield, clear creek, denver, douglas, elbert, gilpin, jefferson & park county Spring has finally sprung in the Mile High City! After several months, and a rough go for buyers in the first quarter of 2016, we are starting to see new life in the market after the shortage of listing inventory has kept many buyers from realizing their dream of owning a home in the Metro area.

New listings started to show their presence as the housing inventory saw a 13% jump (4,482 homes) from February to March. A very significant amount considering that the Metro Denver market reached the lowest inventory mark on record in February of this year. It’s been quite a ride, to say the least.

For the entire residential market last month, active listings, new listings, homes under contract, and homes sold showed double-digit monthover-month gains and the total sales volume is up 11.93% ($3.87 billion) from this time last year.

madison quarter 1 report

To end the 1st Quarter, over 5,700 new listings came on the market (up 33%), 4,720 homes were placed under contract (up 13%) and 4,053 homes sold and closed (up 27%).

Average and median sold prices edged in an upward trend again from the previous month with gains of 4.92% to $393,684 and 4.86% to $345,000 respectively.

All in all, it has been an incredibly lucrative market for sellers, as what seems to be every home is receiving multiple offers, and a tricky one for buyers, as they are doing anything and everything they can to just get a deal done. Every one of our most seasoned RealtorsÂŽ agrees that this is the most difficult market to maneuver through and a supportive team is more needed than ever.

- Justin Knoll, President Madison & Company Properties

www.madisonprops.com

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Indicators

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Economic h

5.3%

apartment vacancy rate YTD average up 0.7 percentage points from last year

h 3%

unemployment Down from YTD average of 4.5%

h

11.93%

dia passengers Passengers have increased 7.6% YTD

sales volume

The total sales volume is up 11.93% YTD to $3.87 billion

median home price denver-aurora msa YTD price is 14% higher, showing a $353,600 increase

* Source: MetroDenver Economic Development Corporation, Denver Metro Association of REALTORS速

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Residential - Detached, Single Family

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11 County Denver Metro Real Estate Stats

January | February | March Residential Detached, Single Family JAN FEB MAR ACTIVE LISTINGS as of MAR 31st

YTD 2016 3,564 YTD 2015 3,325 YTD 2014 4,876

AVERAGE Days on Market

46

MEDIAN Sold Price

$346,000 $361,500 $379,173

TOTAL Active Homes

3,361

3,158

3,564

TOTAL Sold Homes

1,961

1,910

2,904

48

39

Average Sales Price

$435,796 as of MAR 31st

© 2016 Copyright | All rights reserved to Denver Metro Association of REALTORS®

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Residential - Attached, Condominium

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11 County Denver Metro Real Estate Stats

January | February | March Residential Attached, Condominium JAN FEB MAR ACTIVE LISTINGS As of MAR 31ST

YTD 2016 918 YTD 2015 787 YTD 2014 1,222

AVERAGE Days on Market

36

MEDIAN Sold Price

$215,000 $227,000 $234,900

TOTAL Active Homes

860

805

918

TOTAL Sold Homes

744

843

1,149

43

36

Average Sales Price

$287,249 as of MAR 31st

© 2016 Copyright | All rights reserved to Denver Metro Association of REALTORS®

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Single Family - Detached | 11 County Overview Active

7,000

New Listings

Under Contract

Sold

6,000 5,000 4,000 3,000 2,000 1,000

Mar, ‘15

Apr, ‘15

May, ‘15

Jun, ‘15

Jul, ‘15,

Aug, ‘15,

Sept, ‘15

Oct, ‘15

Nov, ‘15

Dec, ‘15

Jan, ‘16

Feb, ‘16

Mar, ‘16

Single Family - Attached | 11 County Overview Active

New Listings

Under Contract

Sold

2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 Mar, ‘15

Apr, ‘15

May, ‘15

Jun, ‘15

Jul, ‘15

Aug, ‘15

Sept, ‘15

Oct, ‘15

Nov, ‘15

Dec, ‘15

Jan, ‘16

Feb, ‘16

Mar, ‘16

© 2016 Copyright | All rights reserved to Denver Metro Association of REALTORS®

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madison Days on the Market | Single Family vs Condo 55

Single Family

50

Condo

45 40 35 30 25 20 15 10 Mar, ‘15,

Apr, ‘15,

May, ‘15,

Jun, ‘15

Jul, ‘15

Aug, ‘15 Sept, ‘15

Oct, ‘15

Nov, ‘15 Dec, ‘15

Jan, ‘16

Feb, ‘16

Mar, ‘16

Residential | Average Sold vs. Median Sold Price Average Sold

Median Sold

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 Mar, ‘15,

Apr, ‘15,

May, ‘15,

Jun, ‘15

Jul, ‘15

Aug, ‘15

Sept, ‘15

Oct, ‘15

Nov, ‘15

Dec, ‘15

Jan, ‘16

Feb, ‘16

Mar, ‘16

© 2016 Copyright | All rights reserved to Denver Metro Association of REALTORS®

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Month End Active Listings VS

Month End Sold Listings

Š 2016 | All rights reserved to Denver Metro Association of REALTORSŽ

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News

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madison

“The most successful companies are the ones that employees believe in.”

Good business is about a strong team, successful companies have employees who feel empowered to grow, create, and dream.

Every year The Denver Post surveys 4,000 participating companies and recognizes the top 100 places to work. Businesses and companies are selected based solely on surveys completed by employees. This year Madison and Company Properties is delighted by the honor of being named one of Denver’s Top 100 Workplaces, for the third year in a row. As companies are picked solely based upon anonymous employee testimonials, we are even more honored that our employees love working here so much.

“I love working for Madison because I feel like my opinion matters and that I am valued for the worked I do. All of the employees operate with professionalism and have a collaborative mind-set,” wrote one of our Madison employees in an anonymous survey.

Not only did Madison make the Top 100, we were ranked #2 in the small business category and received a Special Award for being a company that encourages new ideas.

Madison and Company strives to be relational in all we do. Our work is about developing friendships with our clients, rather than transaction-based interactions. Our workplace is more than just a place to do a job; it is a culture of friendship and family.

The environment at Madison is carefully crafted and cultivated by the leaders in our company, our dedicated staff, and our incredible Realtors®. We are excited to be again named a Denver Top 100 Workplace, and to continue exceeding all expectations of what an amazing workplace truly is – a place of dedication, growth, and community.

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madison a thriving city New Light Rail Lines Pave Way for Growing Denver

The Light Rail’s newest line, which debuted in April 2016, exemplifies the extraordinary growth of Denver in the last year.

photo courtesy of RTD

The University of Colorado A Line will connect Union Station with the Denver International Airport, the “train to the plane.” This line commuter line connects businesses, schools, neighborhoods, and of course, DIA. Summer of 2016 promises the opening of RTD’s G Line, which will connect Union Station to Wheat Ridge, going through northwest Denver, Adams County, and Arvada along the way. Later in 2016, the I-225 R Line to Aurora is anticipated to open.

The many new lines connecting our growing city are witnesses to the increasing need for connectedness in booming Denver. With Colorado’s population increasing by over 101,000 people in the last year, more transportation and housing are in high demand. Areas like Aurora are continually expanding, and new developments are being built along these new lines.

28,000 square feet of retail space and 397 apartments are coming to Aurora in a new development. The Forum-Fitzsimons development is being built near the new R Line station, directly across from the Anschutz Medical Campus, a part of the University of Colorado. The location for this new development is prime, a mere 15 minutes from DIA and downtown, neighboring one of the fastest-growing medical schools in the country, and easily accessible via RTD’s new light rail line.

Forum-Fitzsimons isn’t the only development the new RTD lines have attracted. Wildgrass is a 336-unit complex being built at the intersection of Peña Boulevard and Green Valley Ranch Parkway, about three miles from the A Line to DIA. The complex will be comprised of 15 three-story buildings, providing hundreds of new housing opportunities in a phenomenal location.

After being named number one on the U.S. News’ list of best places to live, Denver has only continued to expand and flourish. The city is full of new homes and developments, creative restaurants and craft breweries abound. With the Bronco’s recent Superbowl win, the city couldn’t be doing better. madison quarter 1 report

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Spring is full of new life, filled with the flavors of flowers and gardens. Gardening isn’t just for huge yards or sprawling countryside; even the windowsill of a condo or the corner of a backyard can house a beautiful urban garden.

Urban gardening is a fresh and innovative way to stay connected with nature while living in a city or suburb. Gardening is an activity that often brings peace. Fresh flowers bring a touch of life and joy into a home. Fresh vegetables, herbs, and more can help promote a healthier, more holistic lifestyle.

Having a small garden in your backyard, planter boxes in front of your apartment, or sunny windowsills filled with plants are a great start to your new garden. Denver is also home to a number of amazing co-op gardening programs. Groups like Denver Urban Gardens, Re:Vision, and Urban Farming are incredible organizations promoting healthy eating and creating strong communities.

As it’s been said, April showers bring May flowers, so now is the perfect time to start planting a beautiful new garden.

Flowers

Herbs

Flowers truly brighten a home.

Here are a few of the best flowers to plant in Denver this spring…

Herb gardens are the perfect opportunity to exercise your green thumb and spice up your cooking. Here are a few popular herbs to start your garden...

• Rocky Mountain Columbine

• Coneflower (Echinacea)

• Basil

• Rosemary

• Lavender

• Daisy

• Sage

• Oregano

• Russian Sage

• Sedum

• Thyme

• Parsley

• Bloodred Geranium

• Dianthus

• Lavender

• Cilantro

• Lilly

• Poppy Mallow

• Mint

• Parsley

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Madison & Company Properties | www.madisonprops.com | 303.771.3850 Š2016 Madison & Company Properties, LLC. Madison & Company Properties is a registered trademark licensed to Madison & Company Properties, LLC. Locally owned and operated. An equal opportunity company. All information deemed reliable but not guaranteed.

If you have a brokerage relationship with another agency, this is not intended as a solicitation.