As published in DMAR Market Trends, March 2023

Denver’s paint season is fairly short, and project demand picks up substantially after St. Patrick’s Day as the weather gets warmer. Connect with painting companies now to gather bids and schedule radon screenings before they book for the season.

While some have begun to slow down, most developers and their contractors appear to be as busy as ever.

Home values in predominantly black neighborhoods increased faster than home values for all other races throughout the pandemic, giving an equity boost to Black homeowners. In February 2020, the typical home was worth 82.7% of the value of a home in the greater market. By January 2023, that ratio increased to 85.2%

According to the National Association of Realtors®, single-family existing home sales prices climbed in almost 90% of measured metro areas in the fourth quarter. The national median single-family existing home price increased 4% from one year ago to $378,700.

According to the American Society of Interior Designers, homeowners are increasingly interested in interiors that make use of colors, lighting and natural materials as well as the introduction of dedicated areas for wellness activities like yoga or meditation.

Denver’s short-term rental numbers finally caught up to levels form pre-pandemic levels, with 2,580 active licenses in February, up 21% year-over-year.

MORTGAGE NEWS

Homebuyers using FHA-insured mortgages can now save $1,657 per year in mortgage insurance premiums on Denver’s median priced homes.

VA buyers are getting their discount, saving $844 up-front with a new lower funding fee on a Denver median priced home.