Hot Homes: 5 listings starting at $619K
The country's red-hot housing market has started to simmer down this spring after roughly two years of sky-high prices and sparse inventories.
Why it matters: Hopeful homebuyers who've struggled to find reasonably priced houses should be able to look forward to more options and fewer bidding wars — if only just a little, Axios Joann Mueller writes.
- Yes, but: Rising interest rates, inflation and the stock market drop are neutralizing factors — keeping the residential real estate market unaffordable to many.
What they're saying: "Although the Denver market is still ultra competitive, the number of showings and offers on properties has decreased, according to local Compass agents," said Elizabeth Ann Stribling-Kivlan in the latest Compass Market Update.
- "This decrease has been attributed to the recent rise in interest rates and exhaustion from buyers not wanting to compete in the tight market."
What to watch: Some overheated markets may see a price correction over the coming year, Moody's Analytics chief economist Mark Zandi tells Fortune.
Here are five listings on the market in the Denver metro this week:
Why we love it: Walking just three blocks to the park or watch the sunset over the mountains from this home's upstairs balcony.
Neighborhood: Sloan's Lake
Realtor: Kelsey Krug — Corcoran Perry & Co.
Specs: 2 beds, 3 baths, 1,138 square feet
Notable features: Modern fixtures, stainless steel appliances and brand new hardwood stairs. Large west-facing windows. Vaulted ceilings in primary bedroom, skylight and walk-out patio. Fenced-in yard.
Why we love it: Built in 1956, this mid-century modern brick home is 15 minutes southwest of downtown Denver.
Neighborhood: Harvey Park
Realtor: Stephanie Kroll — milehimodern
Specs: 3 beds, 1.5, baths, 1,438 square feet
Notable features: Built-in features, granite countertops, high ceilings, open floorplan. Two carport spots.
Why we love it: This all-brick, raised ranch home with indoor-outdoor connectivity to a private backyard is centrally located, just two blocks from the High Line Canal and 1 mile to Eisenhower Park and Recreation Center.
Neighborhood: University Hills
Realtor: Amy Lynn Hopp — milehimodern
Specs: 3 beds, 2 baths, 2,085 square feet
Notable features: Two gas fireplaces, built-in shelves, renovated kitchen. Lower-level den and primary suite bath with walk-in shower.
Why we love it: An oasis in the city. Cozy up in front of this Victorian's wood-burning fireplace, while home cooks delight at the five-burner cooktop and ample prep space.
Neighborhood: South central Denver
Realtor: Abell to Sell — Compass
Specs: 4 beds, 4 baths, 2,339 square feet
Notable features: Mud-room entry way with coat closet. Primary suite has oversized jetted tub in the en-suite bathroom, and balcony with motorized shade. Two-car garage and two parking permits. No HOA.
Why we love it: Sleek modernity is balanced by classic design elements in this stunning Southern Hills home.
- Neighborhood: Wellshire
- Realtor: Courtney Ranson — milehimodern
- Specs: 5 beds, 3 baths, 3,787 square feet
- Notable features: Statement fireplace. Dining area with outdoor connectivity. Exposed wooden beams in kitchen with all-white cabinetry, stainless steel appliances, vast center island with seating. Walk-in closets, five-piece bath with a soaking tub and heated floors. Cascading staircase. Expansive back patio with pergola.
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