2016 Year-End Madison Report

MADISON year-end report

2016

Denver Real Estate Market Report

Year-End real estate market recap 2016 These stats are based on the following 11 Counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park County 2016 proved itself to be another banner year in Denver Real Estate, as much of the same from 2015 carried over into the New Year. A continued three year shortage of listing inventory, copious amounts of buyer demand, historically low interest rates, and elevated rental rates led to more than 55,000 homes selling in the Metro area in 2016, just shy of the record-high of 56,062 in 2015.

Remarkably, year-to-date sales volume in 2016 finished at $22,230,011,184 – up 9.22% from 2015. For further comparison, looking back to 1990, the total sales volume then was $2,411,618,946.

Additionally, the year-to-date average sold price of a home (dsf & asf) in 2016 was a record high at $399,576 – up 10% year over year.

In February 2016 the Denver Metro Association of Realtors recorded 3,963 active listings at month end, representing the lowest number of any month since housing data started being madison year-end report

tracked in 1985. December 2016 finished with 4,265 active listings, which was 69% less than the historical December average of 13,702, and beat the previous December low in 2014 at 4,355.

With escalating prices the luxury market will be a larger factor than ever before. Single-family home sales above $1,000,0000 increased 19.2% this past year compared to 2015 and sales increased tremendously over the past five years with a 176.53% jump in the number sold since 2011. In addition, 2016 ended with 7,744 home sales in the $500,000 to $749,999 price range – up 24.62% from the 2015 record of 6,214.

As we settle into 2017, there are a few things we can count on. New residents of Denver will continue to flock to the Mile High City as prospects to live in one of the nation’s greatest locales are plentiful as jobs are more abundant than in most parts of the US. While this may be great news for our healthy economy,

it is not as good for traffic and housing affordability, which will be major points of consideration in the political arena, now and in the years to come. Expect interest rates to rise throughout the year and inventory to remain tight for a fourth year in a row.

Homeowners will see increases in home values but not at the rate we have for the past 24 months. Bottom line, the Denver Real Estate is a strong place to invest and build on for the future…and the future continues to look bright.

As always, a big thank you to the Market Trends Committee at DMAR for compiling the statistical results from the past year in Denver Real Estate.

- Justin Knoll, President Madison & Company Properties

www.madisonprops.com

year-end

Indicators

report

Economic

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Apartment Vacancy Rate Up 5.5%, YTD average up 0.7 percentage points from last year.

Property owners are beginning to sell their rentals, taking advantage of Denver’s record-high prices.

h3.1%

h

10.06%

unemployment Down from YTD average of 3.7%

average sold price Average sold price for homes in 2016 was $399,576 – a record-breaking high. (attached + detached single family homes)

dow jones/ industrial average Up 13.4% – YTD return through December 2016.

Colorado population Approximately 91,726 people moved to Colorado in 2016, putting Colorado’s population over 5.5 million for the first time.

* Source: MetroDenver Economic Development Corporation, Denver Metro Association of REALTORS®

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Residential - Detached, Single Family

year-end

11 County Denver Metro Real Estate Stats

Residential - Single Family Detached Year-End | Jan 16’ - Dec 16’

ACTIVE LISTINGS

35

Year-End 2016 3,240

Avg Days on Market

Year-End 2015 3,519

$380,000

Year-End 2014 3,557

Average Sales Price Year-End 2016

$442,467

Median Sold Price

Highest Days on Market

February 48

Highest Median Sold Price

May & June ($395,000)

47,196

Most Homes Listed

40,015

Most Homes Sold

Total Homes Listed in 2016

Total Homes Sold in 2016

June (5,709)

June (4,215)

Year-End 2015

$405,691

© 2017 Copyright | All rights reserved to Denver Metro Association of REALTORS®

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Residential - Attached, Condominium

year-end

11 County Denver Metro Real Estate Stats

CONDO - Single Family Attached Year-End | Jan 16’ - Dec 16’

ACTIVE LISTINGS

Year-End 2016 1,025 Year-End 2015 865 Year-End 2014 798

Average Sales Price Year-End 2016

$289,691

31

Avg Days on Market

Highest Days on Market

January & February 41

$241,000

Highest Median Sold Price

17,754

Most Condo’s Listed

Median Sold Price

Total Condos Listed in 2016

15,619

Total Condos Sold in 2016

December ($257,500)

June (1,906)

Most Condo’s Sold

August (1,570)

Year-End 2015

$258,427

© 2017 Copyright | All rights reserved to Denver Metro Association of REALTORS®

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Stats

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Single Family - Detached | 11 County Overview Active

7,000

New Listings

Under Contract

Sold

6,000 5,000 4,000 3,000 2,000 1,000

Dec, ‘15

Jan, ‘16

Feb, ‘16

Mar, ‘16

Apr, ‘16

May, ‘16

Jun, ‘16

July, ‘16

Aug, ‘16

Single Family - Attached | 11 County Overview

Active

Sept, ‘16

Oct, ‘16

New Listings

Nov, ‘16

Dec, ‘16

Under Contract

Sold

2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 Dec, ‘15

Jan, ‘16

Feb, ‘16

Mar, ‘16

Apr, ‘16

May, ‘16

Jun, ‘16

July, ‘16

Aug, ‘16

Sept, ‘16

Oct, ‘16

Nov, ‘16

Dec, ‘16

© 2017 Copyright | All rights reserved to Denver Metro Association of REALTORS®

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Stats

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madison

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Days on the Market | Single Family vs Condo 55 Single Family

50

Condo

45 40 35 30 25 20 15 10 Dec, ‘15

Jan, ‘16

Feb, ‘16

Mar, ‘16

Apr, ‘16

May, ‘16

Jun, ‘16

July, ‘16

Aug, ‘16

Sept, ‘16

Oct, ‘16

Nov, ‘16

Dec, ‘16

Residential | Average Sold vs. Median Sold Price Average Sold

Median Sold

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 Dec, ‘15

Jan, ‘16

Feb, ‘16

Mar, ‘16

Apr, ‘16

May, ‘16

June ‘16

July, ‘16

Aug, ‘16

Sept, ‘16

Oct, ‘16

Nov, ‘16

Dec, ‘16

© 2017 Copyright | All rights reserved to Denver Metro Association of REALTORS®

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Stats

year-end

madison

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Active vs. Sold Listings

Š 2017 | All rights reserved to Denver Metro Association of REALTORSŽ

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Madison’s Year in Review!

year-end

News

report

madison

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2016 was a year of incredible growth for Madison & Company Properties. As a company we are committed to being an upscale boutique firm that offers only the best to our clients through knowledgeable and professional brokers who are experts in the real estate market and locations throughout the city that are convenient for our clients. This year we continued to expand that vision, through the new Realtors® we brought on board with the company, our expanding staff, a new office location, and our passion for giving back to the community through charity events.

“ Welcome to the Family ”

This year Madison was honored to bring on board 36 incredible new agents, ending the year with 110 brokers at Madison. We’re a company focused on a culture of hard work, professionalism, relationships, and family. These new Realtors® take Madison to a whole new level with some of the top-producing agents in the industry, the Chairman of the Board for DMAR, and many more attributes to help take Madison to new heights. These amazing new brokers bring expertise and value to our company and we are thrilled for what 2017 will bring!

Impressive Stats

Madison’s $420,459 Average Closed Price in 2016

Madison

Brokers Averaged

$5,494,000

Charity

Philanthropy is an important part of the Madison & Company Properties culture. We encourage our agents to get involved in their communities and in giving back, and as a company we host a large fundraiser annually. This year we partnered with The Butterfly Fund, hosing our third Birdies for Butterflies Charity Golf Event and raising over $30,000 for this incredible cause. To learn more about the Butterfly Fund, visit www.hopeforwilliam.com.

In 2016 closed volume

Thank You!

Thanks to the support of our clients, friends, and family, 2016 was one of our best years yet. Our production was high, our team grew, and we were able to open a new office in one of Denver’s most exciting and popular parts of town. Thanks to your feedback and care we have been named one of Denver’s top workplaces for three years running. And with your support, we know 2017 will be the greatest year we’ve ever had. madison year-end report

our new rin o office

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Trending IN w

log Techno

y

2017

A network of connected things – from cellphones and cars to coffee makers and wearable devices and everything in between – and people, the Internet of Things is continually increasing. Nearly every device and person is connected to one another, drastically changing the ways we interact and communicate with each other, our devices, and ourselves.

Once merely a dream for the future, autonomous vehicles, or self-driving cars, is now a tangible reality, with companies like Google and Uber already testing out selfdriving cars. Though not yet found on everyday roads, 2017 is projected to be the year of autonomous cars, with companies vying for who will be the first to make such cars public.

No longer hypothetical, companies and individuals are beginning to engage with the ethical, moral, and practical questions surrounding autonomous vehicles.

•• Top Fitness Trends for 2017 •• Wearables

Over 100 million fitness trackers sold in 2016, a popular & convenient way to motivate health.

Intuitive Training

Mindful workouts are the next thing. Listening to one’s body, checking in & doing what the body needs each day.

Online Workouts

With fitness apps, Snapchat, Instagram, Youtube & more online workouts are endless, accessible & affordable.

Commuting

Saving money, avoiding traffic & a workout all while getting to work! Commuting is a great, convenient workout.

Body Weight Training

No-equipment workouts are convenient & easy to learn. They’re free & perfect for every level of fitness.

Flexibility & Yoga

Wholistic fitness is important, focusing on flexibility & mindful practices improves every aspect of life.

The

The beginning of a year is the perfect time to reset and re-orient towards healthier choices. Over the last few years fitness trends have evolved, promoting overall health and wellness - both mental and physical. With so many new and popular health and fitness trends, paths to health can be found for all this new year.

e l y t s e f Li

Best Fitness Trackers for 2017

Fitbit Charge 2

Misfit Ray

Garmin Vivosmart HR

Moov Now

Most Anticipated Gadgets Smart Homes

Computers

Accessories

Smart Phones

Amazon Echo Dot

Apple iPad 2017

Samsung Galaxy S8

SimpliSafe Home Security Stystem

Microsoft Surface Book 2

Doppler Labs Here One Headphones

Nest Learning Thermostat

Apple iMac 2017

Xbox Project Scorpio

Andromeda OS for Chromebook

BeatsX Headphones

Apple HomeKit Smart Lock Philips Hue Bulbs Anova Culinary

Nintendo Switch

Pixel 3

Microsoft Cortana Smart Speakers

Windows 10 Creators Update

Android Wear 2.0

ts e g d a G

Galaxy Note 8 iPhone 8 Updated Google Pixel Microsoft Surface

Panasonic 4K Oled TV

Madison’s best

Food & Drink

The Denver food and drink scene has boomed over the last few years, putting Denver on the map for its renowned beer, vegetarian & vegan cuisine, and foodie scene. Here is a non-comprehensive list of a few of Denver’s most anticipated new openings in 2017.

Tavernetta by Frasca

Opening Spring 2017 – 1889 16th St.

Mighty Mighty Sparrow!

Opening Summer 2017 – 1310 Pearl St.

Grateful Gnome Sandwich Shoppe & Brewery

New Tech for

2017

#1 The Nest Cam Outdoor

Following the popular Nest Cam Indoor, this weatherproof security sends a fulltime video that can be viewed online or via a mobile app. #2 Tesla Model 3

Greatly anticipated, this all-electric sedan is the most affordable of allelectric vehicles. It can drive up to 215 miles on a single charge.

Opening February 2017 – 4369 Stuart Street

Hickory & Ash

Opening April 2017 – Arista Development, Broomfield

New Belgium Brewing — The Woods Opening Fall 2017 – 3550 Brighton Boulevard

El Five

Opening March 2017 – 2930 Umatilla St.

Tupelo Honey Southern Kitchen & Bar Opening April 2017 – 1650 Wewatta St.

Soujourner’s Brewing Project

Opening Spring 2017 – 925 West 8th Avenue

New years hold great promise and anticipation, 2017 is no exception. With breakthroughs in technology that feel like living in a futuristic world - from selfdriving cars to wi-fi controlled crockpots and beyond. Incredible technological advances in our computers, smartphones, and wearable devices are revolutionizing the way we interact with the world.

This year has much to offer, inviting us to show up, explore, learn, and grow through everything this new year brings.

#MadisonProps

Madison & Company Properties | www.madisonprops.com | 303.771.3850 Š2017 Madison & Company Properties, LLC. Madison & Company Properties is a registered trademark licensed to Madison & Company Properties, LLC. Locally owned and operated. An equal opportunity company. All information deemed reliable but not guaranteed. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Sources: DMAR, Shutterstock, & MetroDenver Economic Development Corp.