THE FOOTHILLS MARKET UPDATE DENVER VS. THE FOOTHILLS THE FOOTHILLS TOTAL SALES 1,106 17% 41,840 18% MEDIAN SELLING PRICE $775,000 .13% $578,000 1.70% AVERAGE SELLING PRICE $913,029 2% $679,710 .16% DAYS ON MARKET 37 76.19% 32 77.78% CLOSE TO LIST PRICE 99% 3.1% 99.55% 2.71 GEOGRAPHIC REGIONS DEFINED The mountain communities along I-70 to Hwy 285, as far west as Idaho Spring and Baily 2024 FORECAST • Economists vary on their assessments for 2024, but in Denver, predictions are that inventory will increase slightly and prices remain stable. • For the foothills, we expect that average and median prices to recover and sales and growth to increase a bit. • Overall the foothills market is still a seller’s market, primarily due to the activity under 1 million. • Interest rates and inventory will be the primary factors influencing the 2024 market. IN 2024 WE SHOULD SEE IN THE FOOTHILLS • More sales • Modest appreciation • More activity propelled by lower interest rates 2023 FOOTHILLS BROKERAGE COMPARISON Madison & Company Properties, with only 1 office and 25 brokers, sells more properties than any other brokerage by far, and more than TWO times as many homes per agent as any other foothills brokerage - the result of careful agent selection, constant training and hard work. List your home with the most professional, experienced foothills brokers. Call a Madison agent today! (303) 997-4050 MadisonProps.com 1193 Bergen Pkwy ste O/P, Evergreen, CO 80439 CHANGE FROM 2022 DENVER 2023 CHANGE FROM 2022 10 counties surrounding Denver proper Updated December 31, 2023 AS OF 12/31/23 AS OF 12/31/23 AS OF 12/31/23 AS OF 12/31/23 2 9 0 <1 3 No Inventory 9 66 6 6 2 Sellers' 6% 36 246 9 21 2 Sellers’ 22% 28 267 14 23 1 Sellers’ 24% 29 206 10 18 2 Sellers’ 19% 5 98 7 9 <1 Sellers’ 9% 13 66 5 6 2 Sellers’ 6% 4 47 4 4 1 Sellers’ 4% 12 33 2 3 4 Balanced 3% 3 27 3 3 1 Sellers' 2% 1 13 0 1 1 Sellers' 1% Sellers‘ 1% 2 12 0 1 2 1 4 0 <1 3 Sellers’ <1% 3 2 0 <1 18 Buyers' <1% 5 2 0 <1 30 Buyers <1% 12 8 1 1 16 Buyers' <1% 165 1,106 61 97 2 Sellers’ 100% Sellers Market = Less than 4 Months of Inventory Balanced Market = 4-6 Months of Inventory Buyers Market = More than 6 Months of Inventory © Madison and Company Properties, LLC. Madison and Company Properties is a registered trademark licensed to Madison and Company Properties, LLC. Locally owned and operated. An equal opportunity company. Madison & Company is committed to compliance with all federal, state, and local fair housing laws. All information is deemed reliable but not guaranteed. If you have a brokerage relationship with another agency, this is not intended as a solicitation. www.madisonprops.com 6 LIFE ABOVE 7000 | FEBRUARY 2024 <1%