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.

Buyer Activity Picked Up in October
November 8, 2023

High mortgage rates and elevated home prices continue to impact the Denver metro housing market. The national average 30-year mortgage rate spiked to a 23-year high at the end of October, according to Freddie Mac and the median price for a Denver area home inched up 2% to $580,000. As a result, home sales lagged for the second consecutive month. The number of home closings was down 6% from last year. Year to date, home sales in the 11-county metro area are down 19% from last year.

In October, Denver Metro sellers added 3,803 new listings to the market, 1% fewer than last year. The number of new listings was down 17% from last month.

On a positive note, buyer activity picked up in October. The number of listings that moved into Pending status in the MLS was 1% higher than last year and 5% higher than last month. Those listings moved off the market in a median of 17 days. Listings are staying on the market a bit longer, which is helping inventory levels inch up. At the close of the month, there were 7538 listings actively available for sale.

The rental market took a breather in October. Throughout the month, 294 properties were leased using REcolorado MLS, 4% less than last month and 1% less than this time last year. The median leased price for those properties remained relatively flat.

Special thanks to Denver Metro Association of Realtors for the market stats/narrative.

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

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.

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.

The Denver Metro Association of Realtors® (DMAR), an organization comprised of over 8,000 real estate professionals, hosted its annual Excellence Awards on March 9, 2023 at the Seawell Ballroom at the Denver Center of Performing Arts. The event recognized Denver metro’s residential real estate top producers for 2022. Over 30 awards were presented to individuals, partnerships, projects, teams and offices as well as special recognition award categories.

Over 500 attendees gathered for a fun-filled day of networking, lunch, a live award show and drinks to toast the winners. Honoring our top producers who are raising the bar, putting in the work and redefining the definition of excellence in real estate. Along with awarding individuals, partnerships, teams, offices and special recognition awards including the Oliver Frascona Lifetime Achievement Award, Broker/Manager of the Year, Realtor® of the Year and this year’s new award, The Pathways Award.   NeXstep’s very own Ryan Sondrup was recognized in the Bronze Individual Award Category.

Ryan was honored to receive this award but recognizes his success is a reflection of the trust and commitment of his clients.  “I want to give out a sincere and heartfelt thank you to all my current and past clients.  Starting a new business can be challenging.  I’m so grateful for the support and opportunities every client has given us over these past 18 years.  We could not have done it without you!”

To read more about this years award winners CLICK HERE…

The post Ryan Sondrup Wins DMAR 2023 Excellence Award appeared first on NeXstep Real Estate Group.

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

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

In order to become a One Carat – Individual Member of the Diamond Circle Club, a REALTOR® must have produced between $3-$6,999,999 million in volume or completed between 20-29 transactions.

“We are pleased to present Ryan with the Diamond Circle Club One Carat Membership for 2022,” said Janet Marlow, 2023 President of SMDRA. “ he 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 Mr. Sondrup 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 Ryan Sondrup, check out www.SondrupRealty.com. For more information on SMDRA, visit www.smdra.com.

# # #

The post NeXstep’s Ryan Sondrup Garners Prestigious Sales Production Award appeared first on NeXstep Real Estate Group.

Our annual shoe drive is back and we are looking for your help to support this great cause!  Contact your favorite NeXstep Realtor before April 28th and give your old “Soles” a new life.

HERE’S HOW YOU CAN HELP:
Donate Your used shoes to people in need,  both locally and internationally. All sizes, styles & types of shoes are needed for men, women & children.

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

About Soles4Souls
Donating your used shoes can make a world of difference.  Whether they’re new or gently-loved, donate your shoes to protect the planet and help lift people out of poverty.  To learn more CLICK HERE…

DEADLINE: WED, APRIL 28TH

The post Give Your Old “Soles” A New Life! appeared first on NeXstep Real Estate Group.

Realtor Group Holds Ninth Annual Diamond Circle Awards Celebration Virtually, April 30th via YouTube!

Centennial, Colo. – April 30, 2021 – Ryan Sondrup, a leading REALTOR® with NeXstep Real Estate Group of Denver, has been recognized by the South Metro Denver REALTOR® Association (SMDRA) with the 2020 Diamond Circle Club Award for Individual Residential Sales – Three Carat. SMDRA hosted its ninth annual Diamond Circle Awards virtually this year, with a professionally produced video created by Hey Mr. Digital Media, which premiered on Friday, April 30, 2021.

In order to become a Three Carat – Individual Member of the Diamond Circle Club, a REALTOR® must have produced between $12-$19,999,999 million in volume or completed between 40-49 transactions.

“We are pleased to present Ryan with the Diamond Circle Club Membership for 2020,” said Brian Anzur, 2021 Chairman of SMDRA.  “He 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 Ryan 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 virtual Diamond Circle Awards was Leigh Brown, one of the top-selling REALTORS® in the Charlotte, North Carolina real estate market and a three-time member of the REALTOR® Political Action Committee Hall of Fame.

This virtual event also featured a mobile platform Silent Auction with items donated by SMDRA members and local businesses, with proceeds going to benefit Rebuilding Together Metro Denver.

For more information on real estate services from Ryan Sondrup, phone 303-398-7012, or contact Ryan via email at ryan@neXsteprealestate.com.  For more information on SMDRA, visit www.smdra.com.

# # #

The post Ryan Sondrup Garners 2020 Award from South Metro Denver REALTOR Association appeared first on NeXstep Real Estate Group.

DENVER (KDVR) – You don’t have to be a Colorado native to know that the Colorado housing market is hot. Currently, single family homes are sold for an average of $623,825, breaking the previous record of $587,484 in March of 2021. For the last seven years, it’s been more a sellers market than a buyer’s market.

Ryan Sondrup is a native of Colorado and he says he’s seen it all when it comes to the ups and downs of the real estate market, but he’s never seen it this insane ever. Sondrup started Nexstep Real Estate 15 years ago and says he hasn’t seen a middle ground in the market. The market went from a buyers market to a sellers market very quickly.

Special thanks to Serena Ung with Denver FOX 31 NEWS – it was great talking to you about the local Denver Metro Real Estate Market. To read the full article CLICK HERE…

The post Our Very Own Ryan Sondrup Featured In Fox 31 Real Estate Article appeared first on NeXstep Real Estate Group.

Denver Metro Association of REALTORS® 42nd Annual Excellence Awards Honors Top Agents

Colorado’s Largest REALTOR® Awards Event Commemorates Industry Leader Achievements

DENVER – March 5, 2020 – Denver Metro Association of REALTORS® (DMAR) – an organization comprised of over 7,000 real estate professionals and The Voice of Real Estate® in the Denver metro area – hosted its 42nd Annual Denver Metro Association of REALTORS® Excellence Awards event on March 5, 2020 at the Hyatt Regency Denver at Colorado Convention Center. The event is the summit of real estate achievement in metro Denver and recognized the highest-performing REALTORS® in 2019.

“With over 700 guests in attendance and more than 25 awards, highlights of the event included the special awards given in the following categories: Broker Manager of the Year, Rookie of the Year, Top Producers, Support Person of the Year, Top Project Awards, Top Office Awards, as well as those dedicated to Community Service efforts.

“The annual Excellence Awards ceremony is the most anticipated event in Denver area’s residential real estate industry,” said Euan Graham, Chairman of the Board of the Denver Metro Association of REALTORS®. “The awards acknowledge professional excellence and achievement for individuals and teams, which is a tremendous honor to be recognized among some of the best REALTORS® in one of the nation’s most competitive real estate markets.”

The theme of the event was “Success is Always in Style,” which was particularly apt as over 700 attendees gathered to celebrate this year’s winners and their success. As one of the nation’s leading housing markets, Denver’s REALTORS® are regarded as industry leaders across the county.“

The award-winning REALTORS® and teams have successfully navigated industry-wide challenges and found tremendous success,” stated Ann Turner, CEO of the Denver Metro Association of REALTORS®. “On behalf of the Association, I applaud our REALTOR® members on their success and accomplishments. I’m proud of each and every member’s resolve to provide world-class client service without compromise, one of the most significant aspects for homeowners deciding to work with REALTORS®.”

Award Winners

“We are honored to have been recognized at the annual DMAR Excellence Awards luncheon,” said NeXstep president Ryan Sondrup. “This recognition is a reflection of our tremendous clients and their support of our brokerage as we continue to dedicate our focus to customer service.”

Ryan was honored in the Individual Category As a Silver Finalist for his work in 2019.  To read more about this award CLICK HERE…

NeXstep Real Estate Group has born in Summit County and expanded to the Greater Denver Metro Area specializing in residential Real Estate in 2009.  NeXstep provides a unique opportunity to serve their clients as a full-service brokerage from the Front Range to Summit County.

“Our Brokers have a specialized knowledge and specific understanding of both Summit County and the Front Range markets.  With experience in both, we can offer clients a unique and valuable perspective on a primary residence purchase or a vacation home purchase.” explains Sondrup.

The NeXstep team is dedicated to understanding the unique needs of every client, and working hard to match each with the best real estate solution possible.  Our broker’s market knowledge, and financial modeling for target properties, lay the foundation for optimizing clients’ return.  NeXstep Real Estate Group understands that there is tremendous value in successfully handling due diligence, analysis, and transaction details, freeing up clients to focus on their own core business and families.

For more information about NeXstep Real Estate Group, call 303-398-7012. To service all of your real estate needs, visit www.neXstepRealEstate.com

To see event highlights, use the hashtag #EA20. For more information, please visit dmarealtors.com and to stay up-to-date with the latest happenings at the Denver Metro Association of REALTORS®follow on Twitter (@DMARealtors), Facebook, and Instagram (@DMARealtors).

About Denver Metro Association of REALTORS®

Denver Metro Association of REALTORS® (DMAR), The Voice of Real Estate® in the Denver metro area, is a membership-based organization comprised of over 7,000 real estate professionals in the Denver metropolitan area. The association offers continuing education, advocacy for the real estate community and is a resource for industry news and market statistics. DMAR produces a monthly market trends report which provides trends, analysis, and insights to data sourced by REcolorado® for the Denver-area housing market. For more information, visit www.dmarealtors.com or call (303) 756-0553.

The post Ryan Sondrup of NeXstep Real Estate Group Wins Silver at the 42nd annual Denver Metro Realtors Excellence Awards appeared first on NeXstep Real Estate Group.

Happy New Year! It’s time to look back and ponder what happened over the past year and look ahead to set goals and make predictions for the new year. Let’s start by looking at the top three things we know about the Denver metro real estate market in 2019:

1. Inventory continued to be scarce. The Denver metro area saw a significant increase in homes for sale in 2018, up 44.71 percent from 2017. That prompted talk of recession and fears of another housing crash. But at the end of 2019, that pile of inventory shrunk. We ended the year with 9.68 percent fewer homes to choose from year over year. The main reason we saw fewer choices was not because more were going under contract or selling, but because 29.94 percent fewer new listings came on the market in December compared to the month prior.
2. Considering the average rate of sales, it would take only 1.13 months to sell all detached homes and 1.37 months to sell all attached homes in the Denver area. For perspective, in January 2010 we had 9.8 months of attached home inventory and 9.8 months of detached home inventory. Anything under four months means sellers have the power in negotiations, while more than five months means buyers have control. We have started 2020 with sellers firmly in control.
3. There was an increase in the average number of days it took to sell a home in 2019. For three years it took an average of 26 days to sell. This past year it jumped up 19.23 percent to 31 days. That spooked a lot of sellers who had been hearing about their neighbors’ homes getting multiple offers in the first few days on the market. When that didn’t hap­pen, sellers started dropping their prices.
4. Despite more price reductions, home values continued to go up. Not at eight to nine percent like we saw earlier in the 2010s, but up nonetheless. The average close price in 2019 was $486,695 – that’s 2.85 percent higher than in 2018. If you take a longer look back to get more perspective, you’ll see what a fabulous investment real estate is in the Denver metro area. The average residential close price increased 87.82 percent from 2010 when it was only $259,084.

2020 Predictions…

The great thing about sales data is that it looks at what we know happened and then we can compare it to years past to get perspective. We hope by doing that we can come up with a prediction of what will happen in the future. But when we look at the future, even if the data helps us make an educated guess, it is still a guess.

Affordability will continue to be an issue in the Denver metro area as the cost of land and new construction increased with our home prices and most salaries didn’t keep pace. Buyers will continue to want more and more as they pay more and more. Sellers are going to have to do more to get their homes in tip-top shape to get top dollar. And  we are starting the new year with low inventory, low interest rates, a strong job market and a steady economy, we predict we will see continued long-term gains in real estate. Bring it on 2020!

2020 Copyright All rights reserved to Denver Metro Association of REALTORS

Click Here To View Full Reports

The post Greater Metro Denver Market Review appeared first on NeXstep Real Estate Group.

Lots of exciting news in the world of Real Estate.  Below is a great article published on January 9th by Thomas Gounley in the BusinessDen about a new proposed Seven-story hostel-like development in RiNo.  This is not your typical hotel development project.  Enjoy the BusinessDen article below…

A lodging property that would offer hostel-like shared bunkrooms along with private rooms has been proposed for a site a block off RiNo’s Brighton Boulevard.

Katz Development submitted a project concept this week proposing the seven-story project at 3495 Wynkoop St.

Project concepts are an early-stage development proposal, the precursor to a more formal site-development plan.

Katz Development is led by Andrew Katz, who said his family regularly visited Colorado to ski while he grew up in Ohio and came to love Denver. In 2015, after graduating from Ohio State, he moved out and took a job as a retail broker at SullivanHayes.

Katz, 26, said he loved the feel of RiNo. In Ohio, his father worked in real estate, developing retail and multifamily properties in that and neighboring states. The family — including Katz’s younger brother, who goes to the University of Colorado Boulder — decided to look for a development opportunity in the district.

They paid $1.81 million for the 0.29-acre 3495 Wynkoop St. lot in June 2017, according to public records. The industrial building currently on the site is primarily used for storage. Katz said his family didn’t have a firm development plan when they bought it.

“We thought it was a well-located site and decided to just go for it,” Katz said.

“Throughout that whole process, the neighborhood just kind of did its thing,” Katz said. “And we saw hospitality as a really interesting use for our site.”

The only lodging option now along Brighton is Zeppelin Development’s Source Hotel. But two more are in the works, at 3560 and 3660 Brighton Blvd.

The development plans for Katz’s project show the project facing 35th Street. The first floor would have the lobby and a restaurant, and the seventh floor would be a bar opening out onto the rooftop. Rooms would be on floors two through six.

The development plans do not include any parking.

“We hope our target demographic is going to take advantage of the light rail,” Katz said, noting there are also parking garages in the area.

Katz said the goal is to develop something that will add to the neighborhood, and incorporating shared bunkrooms was a way to make the project unique. While bunkrooms are a common feature at hostels — like the one planned for a site in Arapahoe Square — Katz indicated he isn’t too focused on how his project is described for now.  “It’s a hostel, it’s lodging, it’s a hotel,” he said. “It’s a way to experience the neighborhood.”

Katz declined to detail the expected number of beds or rooms, noting the early stage of the project. And he said he hasn’t determined whether the lodging would be managed in-house or by an outside company.

The post Seven-story project proposed a block off Brighton in RiNo appeared first on NeXstep Real Estate Group.

Real estate pro Christina Dudley of Berkshire Hathaway HomeServices PenFed Realty used the Dr. Seuss character throughout online photos showcasing the property for sale. She hopes that buyers who spot the Grinch as they flip through the photos online will want to do a double-take.

“It definitely helps with exposure,” Dudley told realtor.com®. “Obviously nobody’s going to buy a house based on funny characters. It definitely gets people talking and gets people sharing the home.”

The idea to dress in costume and be featured in listing photos is nothing new. Several real estate professionals have donned cheeky getups since news broke about a real estate pro that dressed in an inflatable T-Rex costume saw his listing photos go viral. Dudley and her co-listing agent, Michael Frank, have also used unicorn and Spider-Man costumes in recent months to list properties in their area for sale.

If your not into costume characters to sell your home this winter here are some helpful suggestions by Lisa Kanov and our friends at First Alliance Title.

1. Clear Snow & Ice Away From Walkways & Stairs: Snow is inevitable in Colorado, so keep waling areas salted and shoveled.  Buyers (and Agents) want to see that you home is maintained and kept in good condition.

2. Make it Cozy: Part of making a home inviting to an interested buyer involves making it feel warm – not shivering as they walk around the house.  Set the thermostat higher if you know people are coming to look at the home and if you have a fireplace set up a fire.

3. Clean Your Windows: Unkempt and dirty windows can turn off buyers before they even enter a house and the sunshine in the winter can reveal grime.  Clean your windows and improve a potential buyer’s first impression.

4. Emphasize Conveniences: Emphasize it so they know that your home is convenient to deal with the winter season.

5. Stage it Outside: Staging is not only for the inside but for the outside as well.  Tasteful winter wreaths and garlands can make your home seem welcoming.  Turn n the outside lights and clean your outdoor patio furniture as well.

6. Decorate Your Home: Stage your home appropriately for the season.  For example, place a few fleece blankets on the couch, place your entertaining dining set on the table, put a few seasonal decorations up or illuminate your home with warm-colored lights so your buyer feels welcomed and warmed.

7.  Shoes Off, Please: Leave a sign to tell buyers to take their shoes off so that no mud or snow is tracked into the house.  Invest in booties if needed.  This shows that you take care of your house well.

***Special thanks to Christina Dudley, Berkshire Hathaway HomeServices PenFed Realty and Realtor Magazine for the Grinch Article.

The post Tips For Selling In The Winter appeared first on NeXstep Real Estate Group.