Q1 Madison Report | 2017 by Madison & Company Properties

MADISON

Report Q1 2017 Real Estate Market Update

Q1 quarter 1 real estate market recap 2017 These stats are based on the following 11 Counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park County Daylight Savings time changes are two significant dates that drive how buyers and sellers position themselves in the market. We see the effect reflected in the number of contracts being executed. Looking for a new home is usually not the highest priority for buyers if it is dark when they are leaving work. In turn, we see a substantial jump after the time change which does push buyers to step in to the market with a more serious approach, encouraged by the warmer weather and lighter evenings.

2017 is anticipated to be a record year economically and the current housing activity may be the catalyst for that, as the average sold price and median sold price year to date are already outpacing last yearâ&#x20AC;&#x2122;s numbers. As in February, March experienced a surge of new listings for the residential market with an increase of 49% month over month and 19% year over year to reach 6,810 new listings. This will give homebuyers some extra breathing room in finding their new home.

This year was no different as March saw considerable increases in active and new listings, as well as homes sold and under contract. Sales volume increased 44% compared to the month prior and 9.7% year over year, to reach $1.85 billion last month. March is historically the start of metro Denverâ&#x20AC;&#x2122;s housing cycle, peaking in June.

Increases in housing activity are normal for this time of year, but many of the increases were greater than historical averages. The historical average increase in active listings from February to March is 4.58%; 2017 represents a new record increase of 26.9%.

madison quarter 1 report

4.9% to $468,889 while the median sold price rose 2.78% to $406,000. In the condo market, the average sold price was up 7.26% to $317,402, and the median sold price was up 2.97% to $260,000. The number of sold listings increased by 36% compared to the previous month. As always, consult a RealtorÂŽ who will help navigate and build a solid game plan around your goals. Leave nothing to chance as there are too many variables that can derail your progress if you are not fully focused. - Justin Knoll, President Madison & Company Properties

In the single-family home market, month over month, the average sold price increased

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Economic Apartment Vacancy Rate Up 5.7%, YTD average up 0.4 percentage points from last year. More people are buying in Denver, take advantage of record-low interest rates and buy today!

h3.1% unemployment

$384,300

Down from 2016 average of 3.5%

median sold price YTD price 8.7% higher through 4Q 2016

dow jones/ industrial average Up 4.6% â&#x20AC;&#x201C; YTD return through March 2017

the place to be Colorado was named the 5th best state to live for retirees and the 15th best state for raising a family!

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

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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

YTD 2017 3,772 YTD 2016 3,564 YTD 2015 3,325

AVERAGE Days on Market

MEDIAN Sold Price

$380,000 $394,000 $406,000

TOTAL Active Homes

2,993

2,918

3,772

TOTAL Sold Homes

2,116

1,958

3,105

Average Sales Price

$455,797 Year To Date

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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

YTD 2017 1,149

AVERAGE Days on Market

YTD 2016 918

MEDIAN Sold Price

$242,500 $255,000 $260,000

YTD 2015 787

TOTAL Active Homes

996

960

1,149

TOTAL Sold Homes

854

847

1,242

Average Sales Price

$302,432 Year To Date

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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

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Single Family - Attached | 11 County Overview

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Under Contract

Sold

2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 Mar, ‘16

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madison Days on the Market | Single Family vs Condo 55

Single Family

Condo

45 40 35 30 25 20 15 10 Mar, ‘16

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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, ‘16

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June ‘16

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Active vs. Sold Listings

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madison

Top Workplace

by the Denver Post for the 4th Year in a Row! The most successful businesses are the ones that employees believe in, and where the employees feel believed in themselves. Madison & Company Properties, a local Denver real estate company, is such a business. Its culture of empowerment elevates relationships and hard work, collaboration and community. At Madison employees feel pushed to reach their fullest potential - both by personal coaching as well as encouragement from staff and fellow Realtors®. “Words can hardly express the gratitude I have for the opportunity to be a part of Madison & Company. I am surrounded daily by a team of true professionals who are positive, helpful, successful, and genuinely caring. The success of Madison is a true reflection of these characteristics.” - Vanessa McClanahan, Cherry Creek Office For the 4th year in a row, Madison & Company Properties is honored to receive the Denver Post Top Workplaces award, a great compliment that speaks highly of the company. The company placed 5th in the Small Businesses Category (businesses with 150 employees or less), a ranking based on the anonymous reviews and testimonials of employees. The Denver Post Top Workplaces is a prestigious award given to Colorado’s most highly-ranked companies. Top Workplaces are determined entirely based upon anonymous employee reviews, reflecting the responses of over 48,000 Colorado employees. The purpose of the Top Workplaces program is to recognize the state’s top employers. It honors companies that are “doing right by their workers,” acknowledging companies that encourage growth and commitment in their employees. The Madison culture is carefully cultivated by the leaders, staff, and employees of the company. It’s a place where everyone knows they are valuable and necessary parts of the important work the company is doing providing homes and caring for the real estate needs of the city. The dedicated staff and incredible Realtors® at Madison work hard to exceed all expectations of what a workplace truly is, creating an environment that is centered on personal growth, professional development, and genuine relationships. The Denver Post Top Workplaces program believes that “the most successful companies are the ones that employees believe in.” Madison & Company Properties is a company employees most certainly believe in. madison quarter 1 report

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Brighton WELCOME TO

“I have and continue to raise my family in Brighton and love the close knit community that it is. I started my real estate career in Brighton 10 years ago. What an amazing opportunity myself and our team have been given in partnering with Madison & Company Properties. We could not be more thrilled to start our new journey and to continue to serve and increase that level of service in Brighton and surrounding communities.” - Damon Eddy, Managing Partner/Team Lead For nearly a decade, Madison & Company Properties has continually grown its presence in the Denver area and the markets we serve. We began as a single office in the heart of Denver’s popular Washington Park in 2008 and have grown to now five offices that serve all areas of the metro area. From the heart of Cherry Creek North, to the gem of Denver’s urban corridor, RiNo, to the center of corporate headquarters in the region in DTC, to highly sought-after Wash Park, we have built a strong business model that allows our Realtors® to do what they do best. Because of our dedication to continual excellence and growth, when the opportunity to enter one of the fastest growing markets in the Rocky Mountain region arose (with the perfect team to deliver the service we promise), we were ecstatic to bring this to reality. We have studied the Brighton market for some time and were drawn to the small town feel while just minutes from the city. Builders, residents, and companies looking to relocate have great confidence in the area, making Brighton their home for long term success. We are proud to be one of those companies and our intentions are to be a part of the fabric of the community, in and outside of the real estate industry. Led by the Eddy & Munoz Home Team, dedicated members of the Brighton community, we look forward to raising the standard of service in the area for sellers, buyers, investors, and Realtors® alike by building alliances and relationships with those that we serve. We are committed to this new endeavor and more importantly to the community that has been a part of the fabric of northern Colorado for as long as we can remember. Look for more to come from us in the future and we look forward to being “WE COULD NOT BE a part of something as special as what is happening here MORE THRILLED TO on Main Street and in the Brighton area for years to come. START OUR NEW JOURNEY AND TO CONTINUE TO SERVE AND INCREASE THAT LEVEL OF SERVICE IN BRIGHTON AND SURROUNDING COMMUNITIES.”

bright and modern, the new office sports lots of offices and co-working space.

main st. cafe, one of the team’s favorite spots, is just down the street.

Your One Day Guide to

Spring Cleaning KITCHEN Clean fridge & freezer Degrease cooking appliances Wash all surfaces, cabinets & utensils Sweep, vacuum & mop floors

BATHROOM Clean walls, ceilings & floors Wipe down mirrors & windows Wash throw rugs

BEDROOMS Wash drapes, linens & sheets Wipe down walls & vacuum floors Open & clean windows Dust surfaces

FAMILY ROOM Dust ceiling fans & light bulbs Vacuum & wipe down walls & ceilings Clean furniture & upholstery Open & clean windows Dust all electronics & shelves

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Madison & Company Properties | www.madisonprops.com | 303.771.3850 ÂŠ2017 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. Sources: DMAR, Shutterstock,