THE MARKET IS
RETURNING TO NORMAL
Through the last few years, the real estate market has been highly unpredictable. 2020 saw the market flatline briefly before a slow build-up. 2021 was the first year of explosive growth which led into a volatile start to 2022. By the middle of the year, interest rates catapulted, and the market slowed greatly. However, experts are predicting good signs for the market ahead!
THE FUTURE LOOKS PROMISING FOR MORTGAGE RATES
January recorded a four-month, low with the average 30-year fixed rate dropping to 6.15%. Rates are almost a full percentage point lower than the peak last October.
RATES ARE PREDICTED TO FALL IN THE FIRST QUARTER
Experts are predicting further mortgage rate decreases, with another potential 0.5% drop by the end of March. This is great news for both sellers and buyers!
HOUSE FLIPPING IS DWINDLING
As the cost-to-benefit ratio dries up, house flipping is becoming less common. With the loss in profitability, more buyers have a better chance at their dream home.
SUPPLY IS STILL HISTORICALLY LOW
Demand is still outpacing supply, which indicates a healthy market. Buyers are still buying homes, albeit at a slightly slower pace.
Leonardo and Angelica,
There’s plenty of opportunity to make a great profit in selling your home. If you’ve thought about selling this year, give me a call at 303.667.1964 and let me provide you with a thorough comparative analysis to get the best response from the market.
RE/MAX Professionals 28 Damshire Drive Columbine Valley, CO 80123 Each Office Independently Owned and Operated. CHRIS COOKE Broker 303.667.1964
www.HomesInWeatherstone.com Your Weatherstone Real Estate Specialist PRESENTED BY CHRIS COOKE Published by REAL Marketing (RM) www.REALMarketing4You.com 858.952.4280 © 2023 WEATHERSTONE • MARCH 2023 REAL ESTATE MARKET REPORT •
CCooke5280@gmail.com
Leonardo and Angelica Washington PREPARED ESPECIALLY FOR
OPPORTUNITY AWAITS IN TODAY’S MARKET
There are a few similarities between the current market and the crash of 2008; however, when looking at key variables, there are significant differences. With inventory rising and less competition, there’s a unique opportunity right now.
Leonardo and Angelica,
When it comes to selling your home, there is no one-size-fits-all solution. Whether you’re in the first stages of discovery or you’re ready to put your home on the market today, give me a call at 303.667.1964.
There Is 1 Home Currently Available In Weatherstone
Now is the perfect time to leverage your equity and purchase your next dream home; this is the chance you’ve been waiting for! Call me today at 303.667.1964 and let’s develop a plan to maximize your results and achieve your dream.
This may be the one and only window for the next few years to get into a buyer’s market. Home prices only go up and always recover from recessions no matter how mild or severe. Long term homeowners should view this market right now as a unique buying opportunity.
DAVID STEVENS Former Assistant Secretary of Housing
There Is 1 Home Under Contract In Weatherstone
Homes Recently Sold In Weatherstone
WEATHERSTONE
Chris Cooke, RE/MAX Professionals, and The RE/MAX Collection are not in any way affiliated with any Weatherstone Owners Association, nor is this in any way an official advertisement or publication of Weatherstone. ©2023 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to REColorado as of March 1st, 2023. Listings and sales may not be those of RE/MAX Professionals. REColorado do not guarantee the accuracy of this data, which may not reflect all of the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. Asterisked (*) properties were listed and/or sold by other brokerages. **Estimated square feet rounded to nearest hundred. CHRIS COOKE Broker RE/MAX Professionals 303.667.1964 CCooke5280@gmail.com www.HomesInWeatherstone.com Connect with me on: No One in the World Sells More Real Estate than RE/MAX! Visit www.HomesInWeatherstone.com for community info, current listings, and recent sales. Status Address Beds Total Baths **Est. Sq. Ft. List Price Sold Price Sold Date Sold* 1568 Meyerwood Circle 6 6 3,500 $1,390,000 $1,300,000 10/27/22 Sold 1101 Southbury Place 4 4 3,100 $795,000 $780,000 09/16/22 Sold* 1550 Meyerwood Lane 5 5 3,300 $1,630,000 $1,560,000 09/06/22 Sold 1485 Meyerwood Circle 5 5 3,500 $1,620,000 $1,620,000 08/24/22 Sold* 10392 Brookhollow Circle 6 5 3,300 $1,465,000 $1,465,000 08/19/22 Sold* 10606 Ridgecrest Circle 5 5 3,500 $1,600,000 $1,800,000 05/10/22 Sold* 1530 Meyerwood Circle 6 7 3,600 $1,500,000 $1,550,000 05/03/22 Sold* 10645 Edgemont Court 4 4 3,300 $965,000 $985,000 11/12/21 Sold* 854 Countrybriar Lane 6 5 3,100 $1,100,000 $1,080,000 10/04/21 Sold 1424 Meyerwood Circle 6 5 3,400 $1,300,000 $1,320,000 09/27/21 Sold* 10385 Brookhollow Circle 6 5 3,300 $1,299,000 $1,350,000 09/27/21
MARKET REPORT
Status Address Beds Total Baths **Est. Sq. Ft List Price Active 1481 Brettonwood Way 5 5 3,500 $1,450,000
Status Address Beds Total Baths **Est. Sq. Ft List Price Pending 1120 Southbury Place 5 4 3,100 $997,000
KEY VARIABLES LAST HOUSING CYCLE CURRENT HOUSING CYCLE Subprime Loans Prevalent Virtually None New Construction* 7.65 Million 4.6 Million Inventory to Market 3.8 to 4 Million 1 to 1.2 Million Mortgage Delinquency 10.1% 3.6% Homes in Foreclosure 4.6% 0.6%
FIVE
Leonardo and Angelica,
*PREVIOUS
YEARS
