What do these numbers mean? To help understand what these numbers mean to our local markets we are now including the number of sold comps during the past 30 days or 1 month.  Looking at our sold numbers over the past month allows us to calculate a monthly absorption rate.  An absorption rate tells us how many months it would take to sell off our entire inventory should we have no new listings.  A balanced market is considered 6 months.

March 2024 Market Summary

As we transition from winter into spring, it’s essential to keep abreast of the current dynamics of the Metro Denver real estate market. Our recent observations indicate an uptick in activity post-President’s Day, expected to surge into mid-May 2024.

For detached single-family homes, while active inventory saw a slight increase in February, the market remains tight compared to historical averages. Notably, buyer engagement has shown positive signs, with a notable rise in pending transactions. Despite a significant increase in closed transactions last month, we’re still experiencing a faster market compared to the low points of early 2024. Prices continue to trend upward, albeit with a less frenzied multiple offer environment than during the pandemic peak. Speed of sales and over-asking price transactions indicate a competitive market, yet with more balanced conditions compared to previous years.

In the realm of attached single-family homes, inventory has modestly grown, alongside a jump in new listings. Demand remains healthy as evidenced by rising pending and closed transactions, though slightly down year-over-year. Pricing trends are mixed, showing both rises and dips, reflecting a nuanced market landscape. The pace of sales and over-asking price sales suggest that while competition has eased, desirable units still command premium prices.

Weekly data further underscores the market’s momentum, with notable increases in contracts and new listings, hinting at a spring resurgence. The balance between supply and demand is shifting, highlighted by the uptick in the Odds of Selling rate. Yet, despite this positive movement, the market still leans towards buyers when considering the ideal inventory balance.

As we approach the more vibrant selling season, keep in mind the timing nuances this March, especially with the upcoming Spring Breaks and Easter holidays which historically affect showings and market activity.

We encourage you to use this information to guide your clients effectively in this evolving market landscape. Staying informed and adaptable will be key to navigating the upcoming months successfully.

Special thanks to Megan Aller with First American Title for the market stats/narrative.

The post Denver Metro 6 County Inventory Count appeared first on NeXstep Real Estate Group.

Why NOW is the BEST Time to Buy

Housing appreciation remains strong with home prices continuing to rise. Even amidst the recent 8%+ interest rates, home values have continued appreciating. Q3 2023 showed all-time high readings in home values, with the annual appreciation rate on track for a 6% increase.

The post It’s never been a better time to buy! appeared first on NeXstep Real Estate Group.

Services Include: Basic Landscaping, Irrigation, Designs, Concrete, Synthetic Turf, Pavers, Outdoor Lighting, Outdoor kitchens, Fire Pits/Places, Water Features, Stone Work, Decks, Fences, Pergolas, Roof Covers & much more…

Contact Information: For more information please contact RKP Today:

Email: matt@rkplandscaping.com
Phone: 720-671-4477
Website: https://www.rkplandscaping.design

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The post The Yeti Handyman LLC appeared first on NeXstep Real Estate Group.

​Inclusive
Come as you are. All body types, all ages, all genders and all backgrounds are welcome here. You are welcome here. It’s our mission to make sure you feel that way every time you come to see us!

Take up space
We limit our class attendance to make sure you have a comfortable and safe experience. That way, you can do what you came here to do, STRETCH!

Competitive pricing
Yoga should be accessible to everyone. Happi Yogi offers different membership options to accommodate different needs. Dedicating time for self-care can be difficult enough without adding financial barriers.

Located Main Street Windsor
117 North 6th Street
Windsor Colorado 80550
970-686-8958
WindsorHappiYogi@gmail.com

The post Happi Yogi in Windsor Colorado appeared first on NeXstep Real Estate Group.

Step One: Determine the subject properties jurisdiction.  To view an interactive map CLICK HERE…

Step Two: Determine the properties Occupancy Limits.  The maximum occupancy for a property is two people per bedroom plus two people. All reservations and advertising needs to comply with the maximum occupancy for the property. The number of bedrooms for a property is determined by the Summit County Assessor’s Office.  For example a two bedroom property would allow 6 people per stay.  To confirm the official bedroom count CLICK HERE…

Step Three: Research the local STR rules and license requirements.  Below is a summary and linked websites to help break down these different requirements:

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Breckenridge: Short Term Rental Caps and Zoning Restrictions.  A short-term rental property is defined as “a residential dwelling unit, or any room therein, available for lease for a term of less than thirty (30) consecutive days.”

• Contact Information: str@townofbreckenridge.com or by phone at 970-547-3101.
• Town of Breckenridge Short-Term Rental Complaint Line: 970-423-5334
• Contact:  Bela Del Valle, Short-term Rental Code Enforcement 970-547-3106 or Belad@townofbreckenridge.com
• Four Different Zones in Breckenridge:
  • Resort Zone:
  • Zone One: Tourism Zone
  • Zone Two: Downtown Core
  • Zone Three: Largest Area
• General Info on STR policies, Licensing and Taxes/Fees:  Click Here.
• STR Ordinances:  Click Here.
• Additional STR Ordinances:  Click Here.
• MAP of STR Areas:  Click Here.
• Searchable GIS Map of Zones:   Click Here.
• License Caps and available permits for each zone:  Click Here.

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Blue River: The Town of Blue River has required licenses for all short-term (less than 30 days) rentals since 2013.

• Information and Applications:  Click Here.
• Contact:   Michelle Eddy, Town Administrator 970-547-0545 or michelle@townofblueriver.org

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Dillon: Short term rental licenses took place on March 01, 2022.  If you are renting your residence or part of your residence for a period of less than 30 consecutive days, you are operating a short-term rental. Dillon town limits are not determined by your zip code. The subdivisions of Dillon Valley, Keystone, Summerwood or Summit Cove are NOT in the Town of Dillon. They are in unincorporated Summit County.

• A short-term rental property is required to provide permitted or designated parking spaces at a rate of one space per bedroom plus 1 additional space. If a short-term rental property does not meet the parking requirement, then the property owner will be subject to a STR parking fee of $300 for each space the property is deficient. The parking fee is an annual fee.
• If you have a complaint, call the Short Term Rental Complaint Line (Town of Dillon ONLY): 970-368-7482
• General information & Licensing:  Click Here.
• Lodging Tax Information:  Click Here.
• Contact:  str@townofdillon.com

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Frisco: Anyone renting their Frisco property, or seeking to rent a property in Frisco, for less than a consecutive thirty-day period, is required to have a Short-Term Rental License and should be aware of the town’s regulations for Short-Term Rentals (STR). These regulations apply regardless of how the properties are marketed – through a management company, online through sites like Vrbo and Airbnb, newspaper, or word of mouth.

• License Application & wait-list registration:  Click Here.
• STR Guide & FAQ’s:  Click Here.
• STR Ordinance:  Click Here.
• Town Map: Click Here.
• Contact:  Sarah Schwartz, Short-term Rental/Housing Specialist Sarahs@townoffrisco.gov or 970-668-2571

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Keystone: Keystone is currently transitioning from Unincorporated Summit County to its own Town. Currently licenses are unlimited. It is unknown what Keystone as a Town will implement for STR’s.

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Montezuma – Rentals Not Allowed Under 180 Days

• STR ordinance:  Click Here.
• Town Map:  Click Here.
• Contact:  Sandra Lerner, Town Clerk at townclerkmontezuma@gmail.com

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Summit County (Unincorporated) – Short-Term Rentals Restricted.  Unlimited STR Licenses in Copper Mountain, Keystone *, Tiger Run, and 4 O’Clock and Sawmill Subs in Breckenridge in the Resort Overlay Zone (ROZ). There is a cap on STR’s in all other Neighborhood residential Overlay Zones (NOZ) by Basin in the County. There are two types of Permits: Type I for locals and Type II for STR’s. Type I licenses are available. No new Type II Licenses are available in residential areas of unincorporated Summit County at this time and there is not a waitlist available.

• General Information & Links:  Click Here.
• Current Caps & Available Permits:  Click Here.
• Basin Locator:  Click Here.
• Ordinance:  Click Here.
• Accessory Apartment/ADU Regulations (At the bottom of the Page): Click Here.
• Contact:  str@summitcountyco.gov or 970-668-4186

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Silverthorne: Town of Silverthorne short-term rentals are capped at 10% of the number of units in the majority of Town neighborhoods, Area 1, and 50% of the number of units within the Town Core and Riverfront areas, Area 2. Short-term rentals are not allowed within deed restricted neighborhoods, Area 3. Permits are currently available in Areas 1 & 2.

• General Information: Click Here.
• Map of Zones:  Click Here.
• List of Subdivisions by STR area:  Click Here.
• STR Ordinance:  Click Here.
• Contact:  Mark Leidel, Community Development Manager at str@silverthorne.org

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Park County: The County does not limit STR’s but requires licenses and other items as defined in the ordinance linked below.

• General information: Click Here.
• Ordinance: Click Here.
• Contact: str@parkco.us

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Alma: The maximum number of STR’s in Alma is capped.  Typically there is a waitlist.

• Municipal Code with STR requirements (pages 65-67):  Click Here.
• Municipal Code with maximum of STR units:  Click Here.
• Contact: Any town staff at 719-836-2712

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Fairplay: Short-term rental licenses are capped within the Town of Fairplay. A waitlist could apply.

• General Information and Available Permits:  Click Here.
• Ordinance:  Click Here.
• Contact:  Janell Sciacca, Town Administrator at 719-836-2622 x-102

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Lake County (Unincorporated): Lake County is under a STR moratorium and will not allow any new STR permits for 2023.

• General Info:  Click Here.
• Ordinance:  Click Here.
• Contact:  719-486-2875 or buildingpermits@co.lake.us

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Leadville: STR’s limited to 12% of residential properties in the City. There are 2 classes of licenses. Class 1 is for owner occupied units and Class 2 is for non-owner occupied units. Class 1 permits do not fall under the 12% maximum licenses.

• General info:  Click Here.
• Ordinance:  Click Here.
• Contact:  cityclerk@leadville-co.gov

*How to know if the property is in Leadville or Lake County jurisdiction:
https://lccgis.maps.arcgis.com/apps/webappviewer/index.html?id=b5d103f931524e319cfc7888528119d6

Note: Special thanks to Summit Association of Realtors for providing this information…

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Our annual shoe drive was a huge success in 2023.  With your help we are proud to have collected 698 pairs of shoes.  Thanks to all our great clients and wonderful neighbors who helped us collect shoes for Soles4Souls! Thank you so much for your support.  We will be back in 2024 and will once again look for your help to support this great cause!  Contact your favorite NeXstep Realtor if you have any questions.  Thanks again!!

HERE’S HOW YOU CAN HELP:
Collect your used shoes for our 2024 shoe drive and help support people in need,  both locally and internationally. All sizes, styles & types of shoes are needed for men, women & children.  For more information on Soles4Souls and to learn more about this great organization CLICK HERE…

CONTACT US FOR SHOE PICKUP
Simply contact us and schedule a pick up during the month of April 2024.  Leave your donated shoes on your front porch and we will come pick them up!  It’s that easy…

The post Thank You 2023 Soles4Souls Shoe Drive! appeared first on NeXstep Real Estate Group.

About

The PARK Wine & Spirits has made its mark since its doors opened in May of 2020. You’ll find a selection of both local libations and brands that even out-of-towners will recognize. The shop also features a beautifully built tasting bar that serves up beer, wine & spirits samples from 4-7pm on Thursdays and Fridays.

The PARK Wine & Spirits has a welcoming atmosphere and staff in place to help enhance your experience. Mari Ann and her husband, Vince, have a great set of team members who will always greet you at the door and are happy to help make recommendations. Taylor, the James’ Sheepadoodle, can often be found doing quality control and brightening his patrons’ days. Taylor is the official PARK Wine & Spirits shop dog and HDIC- Head Dog in Charge.

Details
Phone: (720) 456-7178
Website: thepark@theparkwineandspirits.com
Address: 11410 Via Varra #200 , Broomfield, CO 80020
Business Hours: Mon – Sun 10:00 AM – 9:00 PM
Delivery Hours: Mon – Sun 10:00 AM – 8:30 PM

From the owners
“Vince and I are so proud to be part of Broomfield, and grateful that we are able to live and do what we enjoy in this great community that we are fortunate enough to call home,” James says. “We look forward to helping others make memories as we provide the libations for many joyous occasions. Cheers!”

The post The PARK Wine & Spirits appeared first on NeXstep Real Estate Group.

Five Star Real Estate Agent Award – Exclusive recognition of area real estate agents.

Denver, CO – Ryan Sondrup wins the 2023 Five Star Real Estate Agent Award! Five Star Real Estate Agents represent those who are outstanding in their field.  Winning Professionals are selected as a result of a rigorous and objective research process. For any market, each year’s field of winners represents no more than 7% of agents within the market. For more information please go to www.fivestarprofessional.com

“Thanks again to my clients for your continued support and recognition for the 13th straight year as a Five Star Real Estate Agent. Building a business based on client referrals, I’m truly humbled by your support. You have been the driving force behind my company’s ongoing success, from the mountain resorts to the Denver metro market. More to come in 2023!” Said Ryan Sondrup of NeXstep Real Estate Group.

The 2023 Five Star Real Estate Agent award winners have been carefully selected for their commitment to professional excellence and overall client satisfaction. The award is based on rigorous research with significant focus on customer feedback and providing quality services.“Five Star Professional’s research is extensive, with more than 10 million consumers, peers and other stakeholders contacted each year. We are relentless in our efforts to identify those professionals with the utmost standard of excellence,” Jonathan Wesser, Research Director, Five Star Professional.

Raised in Colorado, Ryan Sondrup boasts a passion for all aspects of nature and Colorado’s exquisite great outdoors. He translated that life-long reverence to his profession of bringing the outdoors to others through NeXstep Real Estate Group. Ryan handled special events at the University of Wisconsin Athletic Department including game day production and national touring concert series before returning to Colorado’s Impact Productions, a special events management firm that promotes national and international programs from its Denver headquarters. A graduate of the University of Wisconsin with a dual degree in Marketing and management/human resources, obtained his education through an athletic/academic scholarship. Ryan graduated from the University of Denver Daniels School of Business in with a Master of Science in Real Estate.

Five Star Professional conducts in-depth, market-specific research in more than 45 markets across the United States and Canada to identify premium service professionals.  Five Star Professional contacts thousands of recent homebuyers to identify award candidates. Phone, mail and online respondents rate their real estate agent on 10 satisfaction criteria. Candidates with a qualifying client satisfaction rating move on to be evaluated on objective criteria such as experience, production levels and disciplinary and complaint history. Real estate agents do not pay a fee to be considered or awarded. For more information, visit www.fivestarprofessional.com.

CONTACT INFO
Ryan Sondrup
www.neXsteprealestate.com
ryan@nexsteprealestate.com
303-398-7012

The post Ryan Sondrup of NeXstep Real Estate Group Wins 2023 Five Star Award appeared first on NeXstep Real Estate Group.

Realtor Group Holds Eleventh Annual Diamond Circle Awards Celebration, March 31^st at the Hyatt Regency DTC!

Centennial, Colo. – March, 31, 2023 – Carolyn Erickson,  a leading REALTOR® with NeXstep Real Estate of Denver, has been recognized by the South Metro Denver REALTOR® Association (SMDRA) with the 2022 Diamond Circle Club Award for Individual Residential Sales – Two Carat. SMDRA hosted its eleventh annual Diamond Circle Awards at the Hyatt Regency DTC on Friday, March 31, 2023.

In order to become a Two Carat – Individual Member of the Diamond Circle Club, a REALTOR® must have produced between $7-$11,999,999 million in volume or completed between 20-29 transactions.

“We are pleased to present Carolyn Erickson with the Diamond Circle Club Two Carat Membership for 2022,” said Janet Marlow, 2023 President of SMDRA.  “She has demonstrated a sincere dedication to the real estate industry during unprecedented times through dedication, perseverance, and selfless customer service, achieving success regardless of market conditions.  We are proud to have Carolyn as a member of our association.”

SMDRA is a non-profit trade association that provides real estate professionals with the resources they need to help them grow and prosper in the highly competitive real estate business.

A real estate agent is a REALTOR® when he or she is a member of the local, state, and National Association of Realtors, NAR, The Voice for Real Estate and the world’s largest professional association.  The term “REALTOR®” is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS®,  subscribes to its strict Code of Ethics, and holds themselves to a higher standard of business from other licensed agents in the real estate industry. Only real estate licensees who are members of the REALTOR® Association are properly called REALTORS®.

Master of Ceremonies for the Diamond Circle Awards was Scott Peterson, General Council with Colorado Association of REALTORS®.  This event also featured a mobile platform Silent Auction with items donated by SMDRA members and local businesses, with proceeds going to benefit SMDRA REALTORS® Care Foundation.

For more information on real estate services from Carolyn Erickson call 720-470-9069 or email at carolyn@nexsteprealestate.com.  For more information on SMDRA, visit www.smdra.com.

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