Thursday, May 31, 2018

Denver Ranked Top 20 'Future-Proof' Markets in the World

According to HousingWire, recent research suggests that some of America’s most popular cities, including our own Denver, CO, are fully prepared to tackle long-term socio-economic and commercial real estate momentum, states Jones Lang LaSalle, the popular financial and professional services firm. 

JLL is the creator of the City Momentum Index, which covers 131 global major established and emerging markets and tracks factors that determine which cities have the strongest short-term socio-economic and commercial real estate momentum, and those that are more equipped for long-term success.

Short-term momentum is determined by both socio-economic and commercial real estate momentum. Economic output, population, investment transactions, transparency, construction, consumerism are factors in JLL's analysis.
According to JLL, future-proofed cities have higher education infrastructures, innovation capability, better environment quality, more technology firms and international patent applications.
The firm's analysis ranked the top 30 most future-proofed markets in the world, as well as those with short-term momentum. While Seattle was the only American city to appear on the short-term list, 12 American cities were among the top 30 most future-proofed markets globally.
San Francisco topped the list as the no. 1 city in the world to have the most sustainable long-term market with nearby Silicon Valley ranking second. Other major U.S. cities claiming spots on the list include New York, Boston, Los Angeles, San Diego, Chicago, Seattle, Austin, Denver(#10 in U.S. and #20 in the world), Washington D.C. and Philadelphia made an appearance on the list, which you can check out below: 

Tuesday, May 29, 2018

Denver Homes Sold Faster in April than anywhere in the U.S.

Homes in Denver sold faster in April than anywhere else in the country.

According to a new report by online real estate company Redfin, Denver was the fastest market in the country last month, with half of all homes pending sale in just six days. That was faster than Seattle (seven days), and San Jose, Grand Rapids, Michigan, and Tacoma, Washington (nine days).

Over the past year, Redfin estimated that the median home sale price has risen 9.2 percent in Denver to $415,000.

That's higher than the rest of the country, which saw the national median home sale price increasing 7.6 percent in April from a year ago, to a median of $302,200, according to Redfin's report released Thursday.

And Denver's near the top nationally in some other housing categories as well.
The metro areas with the lowest days on market were San Francisco at 19, Seattle at 21, and Denver at 23, according to Re/Max's National Housing Report, released Wednesday.

Denver is tied for markets with the lowest Months Supply of Inventory with Boise, Idaho, San Francisco, and Seattle, at 1.0. A six-months supply historically indicates a market that's balanced equally between buyers and sellers, according to the Re/Max report.

With the extremely low supply, sellers are still having a hay-day in the Denver Metro area.

-Denver Business Journal