MORTGAGE RATES & HOME PRICES?
NOW THAT THE END OF 2022 IS WITHIN SIGHT, YOU MAY BE WONDERING WHERE THE HOUSING MARKET IS HEADED IN 2023.
The Current Market
While elevated rates, sluggish sales activity, and high inflation have taken a toll, it’s unlikely home prices will drop next year. In fact, we may see a further uptick; home prices are holding steady for most parts of the country since inventory is extremely low.
Mortgage Rates Will Continue to Respond to Inflation
Housing inventory is about a quarter of what it was in 2008, with distressed property sales at just 2% and nowhere near the 30% mark seen during the crash. The October consumer price index showed inflation rising less than expected, which may be a sign of rates topping out at 7%.
Predictions for 2023 and Beyond
Home sales are expected to decline by 7% in 2023, while the national median home price will increase by 1%. However, 2024 is expected to result in a strong rebound, with a projected increase of 10% in home sales and a 5% increase in the national median home price. Prices should hold firm or marginally grow.
Plenty of potential buyers are still patiently waiting to enter the market. Talking with me to develop a plan to stay ahead of the curve will result in the best sale possible. Call me today at (303) 990.2229 to get the conversation started.
Source: NAR’s Lawrence Yun
1745 Shea Center Drive, Suite 100 Highlands Ranch, CO 80129 Each Office is Independently Owned and Operated. Published by REAL Marketing (RM) | www.REALMarketing4You.com | 858.952.4280 | ©2023 www.WestridgeGlenHomes.com Real Estate Market Report WESTRIDGE GLEN PRESENTED BY LANDIN SMITH Your Westridge Glen Real Estate Specialist JANUARY 2023 LANDIN SMITH ABR, e-Pro, SFR, GMA,
® Westridge Glen Expert and Former Resident RE/MAX Professionals (303) 990.2229
www.WestridgeGlenHomes.com PREPARED ESPECIALLY FOR LEONARDO AND ANGELICA WASHINGTON LEONARDO AND ANGELICA,
REALTOR
LandinBSmith@remax.net
LANDIN SMITH
ABR, e-Pro, SFR, GMA, REALTOR® Westridge Glen Expert and Former Resident
RE/MAX Professionals
(303) 990.2229
LandinBSmith@remax.net
www.WestridgeGlenHomes.com
Connect with me on:
WESTRIDGE GLEN Real Estate Market Report
A MOMENT OF REFLECTION
May the new year bring you happiness, good health, and a moment of reflection before a whole year begins again. I truly appreciate your time and am here to provide you with the elite service and exceptional attention necessary to help you achieve your real estate goals in 2023.
Landin Smith
HAPPY NEW YEAR
THERE ARE NO WESTRIDGE
GLEN HOMES CURRENTLY LISTED For more information on any Westridge Glen home, please call me at (303) 990.2229
Westridge Glen Homes Currently Under Contract
Due to REColorado regulations, full disclosure of all listing and sold data is only available upon request.
Landin Smith and RE/MAX Professionals are not in any way affiliated with Westridge Glen Home Owners Association, nor is this in any way an official advertisement or publication of Westridge Glen. ©2023 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the REColorado between September 21st and December 20th, 2022. Listings and sales may not be those of RE/MAX Professionals. The REColorado does not guarantee the accuracy of this data, which may not reflect all 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
WHAT YOUR NEIGHBORS ARE SAYING ABOUT LANDIN SMITH
Landin has been our go-to real estate agent for almost ten years over the purchase and sale of two houses. He knows the market well, is super friendly, and is great at walking you through the buying and selling process. He’s good at what he does, but he also goes past just buying and selling your house; he keeps in touch (great activities!) and knows contractors for just about everything. When we moved out of state, he even helped us find a new agent where we were moving, vetting candidates to find someone up to his high standards to help us with our next purchase."
–BRANDON (Highlands Ranch Seller)
relationship. *Estimated Square Feet Rounded to
RE/MAX Professionals.
nearest 100. Listed and/or sold by
List Status Street Name Bedrooms Total Baths Estimated Finished Square Feet* List Price List Date Under Contract Anasazi Indian Way 3 3 2,500 $630,000 12/12/22 Under Contract Cactus Bluff Place 5 5 4,900 $825,000 08/04/22
Last
Days List Status Street Name Bedrooms Total Baths Estimated Finished Square Feet* List Price List Date Sold Price Sold Date Sold Cactus Bluff Place 6 5 4,400 $995,000 10/25/22 $970,000 12/02/22 Sold Wolfe Court 4 4 2,200 $636,000 10/14/22 $636,000 12/01/22 Sold Fox Fire Drive 4 4 4,200 $875,000 09/29/22 $860,000 11/29/22 Sold Fox Fire Street 3 2 3,000 $650,000 09/22/22 $640,000 11/04/22 Sold Anasazi Indian Way 4 4 2,300 $620,000 08/18/22 $610,000 10/28/22 Sold Wolfe Place 4 4 2,300 $630,000 09/22/22 $640,000 10/24/22 Sold Wolfe Place 4 4 2,500 $730,000 07/23/22 $730,000 10/21/22 Sold Desert Willow Road 5 5 4,700 $1,195,000 09/23/22 $1,260,000 10/21/22 Sold Wolfe Place 4 3 2,600 $649,900 06/02/22 $650,000 10/03/22
Westridge Glen Homes Sold in the
90
REQUEST YOUR HOME’S CURRENT VALUE AT WESTRIDGEGLENHOMES.COM 2023