All Forum Posts by: Kenny Smith

🏡 (Not pictured), but there is a graph that shows the ratio of median home price vs median household income throughout the US - dividing home price by income. 🏷️

Colorado came in at #9 of worst income to housing price ratios in the country. 😳

✅ Colorado does have an 18% higher median income than the US, but the 35% higher median home price vs the rest of the US keeps it as one of the most unaffordable.

Income levels simply can't be pushed up at the same rate as we saw housing rise in the 2010's/COVID years, which puts pressure on the folks that have been here for decades....🧐

With all of that said, I am a 4 time property owner here in CO, and am still high on real estate here for the long haul....

🏡 DEAL of the month….👀

The new build community, Harmony at Solstice by Shea Homes, may just be my new favorite community.

✅ Single Family Homes starting at $688,990

✅ Backs up to Chatfield State Park

✅ Private neighborhood, NO more building North, East, or West

✅ Steps away from hiking trails, golf, the water, etc

✅ Easy access to 285 and the mountains

✅ Classic Farmhouse style

This community currently has 35 homes available as of now, 13 move in ready, 4 now building, and 18 ready to build. 🏠👷‍♂️

See website below, and let me know if you’d like more info!

https://www.sheahomes.com/.../littleton/harmony-at-solstice

🏡 Here is a breakdown of how March ‘25 shaked out in Denver metro....

✅ Total Actives - 9,432, UP 48% year over year

✅ New Listings - 6,094, UP 26% year over year

✅ Pendings - 4,479, UP 11% year over year

✅ Median Days on Market - 18, UP 63% year over year

✅ Median Home Price - $587,850, FLAT year over year

Eye opening stats when you compare this month/quarter to last year at this time 👀

Actives are up a tremendous amount YOY, which gives buyers a lot of options compared to last year.

Yes, pendings are up slightly (likely more buyers in the market), but not as much to make a big impact in the market especially given how many active homes are for sale.

Median days on market are up quite a bit YOY which tells me buyers are really taking their time compared to last year.

Lastly, median home price is flat which also tells me buyers are only going after the homes in which they can get the best deal, and they certainly have that luxury given the amount of active homes for sale....💰

Hey all!

Anyone have a good deck contractor they'd recommend for a reasonable price here in Denver?

Thank you.

🏡 There are deals to be had….

I was able to close houses for two of my clients the last two weeks. 🎊

The first was an off market single family home I found through networking with other agents. A non-conforming triplex where the buyer will live in the attached ADU and rent out the main portion of the house. 👀

The second was a flip. They dropped the price $30k just to get out from underneath it, and we came in quick and offered a price significantly lower than the comps were telling us.💰

Although the median home price has still gone up YOY, you just need to find the motivated sellers in this market.

The next couple of months could be a small window to find your deal before rates drop more, and the market really opens up. 📉

🏡 Glendale is seeing a HUGE upgrade with the new entertainment area, 4 Mile District, located on Colorado Blvd and Virginia Ave. 👀

10 years in the making and they are finally breaking ground. Everything from a new Alamo Drafthouse to retail, hotels, bars, and restaurants. 🏨🧑‍🍳

And, one of the first of it’s kind here in CO - NO open container laws (common consumption area), and bars and restaurants open until 4am, WOW. 🍸🍹

Expected opening of late 2026 or early 2027.

This paired with the very popular 9th and Colorado continues to shape this area and neighborhoods as a real estate destination that will see housing continue to go up....⬆️ 💰

🏡 Another record setting February 👀

✅ Days in market - 29

✅ Active listings - 8,197

✅ Pending listings - 3,387

✅ Median home price - $590,000

Days on market, and pendings are in line with how the last 2 Februarys ended - staying on course with seasonal trends.

Active listings are still high compared to the prior 2 Februarys, which is a combination of a 12% year over year increase for new listings from 2023 to 2024 along with a big increase of new listings in Jan ‘25.

However, the number of pendings are not outpacing the new listings so inventory is starting to pile up. ⬆️

Regardless of all of that, Median Home Price is STILL going up. 😳 February ‘25 was again the highest February in Denver on record with a year over year increase from $575k or a 2% increase….

🏡 EVENT of the month 🥘

Denver’s restaurant week is here. Never been? 🤔

Now in its 21st year, explore Denver’s thriving culinary scene backed by Michelin Star and James Bear Award-winning chefs.

There should be over 250+ restaurants participating 3/7-3/16 with prices ranging from $25-$55 for multi course meals. 🍲

It’s been a couple years since we’ve been, but this will be a perfect date night for my wife and I before baby Smith is due in April 🙂 👶

Any restaurant recommendations to check out? Leave a comment below 👇

Are people STILL moving to CO....?

I get this question a lot, are Californians still moving here?

Yes, and No.

Our net migration was only +5k from July 2023 to July 2024. As there are Californians still moving here, the vast majority are instead picking the states with low or no state income tax like Texas, Florida, or Tennessee.

Although we still have a positive influx of people moving here, more people have been leaving due to rising housing costs in recent years.

To put it in perspective, we saw around +45k in the 2010's.

Overall, CO is basically a balanced net migration in recent years which is likely to keep home prices steady....

@Scott Trench - I couldn't agree more.  More open spaces around the city for people to get outside is never a bad thing.