Q1 Madison Report 2020 - Laura Nuss

2020 Q1 MADISON & CO.
MARKET REPORT
DENVER METRO AREA REAL ESTATE RECAP

QUARTER ONE
LAURA NUSS
REALTOR®
Madison & Company Properties
Direct: 720.280.4536 | laura@madisonprops.com
www.madisonprops.com
With Midwest roots, Laura pursued her education at the University of Colorado and received her graduate
degree from the University of Denver. After graduate school, with busy careers and two young children, a
career opportunity took Laura and her husband to Columbus, Ohio.
With a goal to raise their now three children near family and the mountains, Laura and her husband, Rod,
took a leap of faith to pursue new career paths in a small business acquisition and real estate.
Laura began her real estate career in 2008 during the global financial crisis. While her timing was difficult,
in hindsight, it provided her a foundation and reinforced the importance of processes, work ethic, due
diligence and communication. Laura credits a small circle of agents who served as mentors and remains
grateful for their continued support in a highly competitive industry.
Laura joined Madison & Company Properties in 2010. Over the years Laura built her business with
integrity and enthusiasm for her clients who range from first time home buyers to down-sizers. Laura
understands the emotions attached with these transitions. Referrals from clients, friends, family and
colleagues continue to grow her business.
With college age children Laura and her husband find excuses to visit Minnesota and Ohio respectively
to get “eyes on their boys.” With their older daughter living and working in Downtown Denver they enjoy
a new world of dining and local events. When home, Laura and her husband enjoy a good DIY project to
update their “brownstone in the suburbs” home.
Giving back to her community is important to Laura; she finds great satisfaction supporting charities with a
focus on animals, children and education.
THESE STATS ARE BASED ON THE FOLLOWING 11 COUNTIES:
Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas,
Elbert, Gilpin, Jefferson, and Park County.

Residential
Detached
Average Sales Price
Year-To-Date
$548,938
2019
$515,671
2018
$511,730
Q1 MARKET REPORT - 2020

JANUARY 2020
Active
New Listings
Under Contract
Closed
Avg Days on Market
Average Sold Price
MONTH END
3,297
3,255
3,348
2,035
45
$532,494
YEAR AGO
4,027
3,301
2,788
2,115
44
$498,325
% CHANGE
-18.13%
-1.39%
+20.09%
-3.78%
+2.27%
+6.86%
RESIDENTIAL DETACHED
FEBRUARY 2020
Active
3,201
4,102
-21.96%
New Listings
3,490
3,542
-1.47%
Under Contract
3,508
3,080
+13.90%
Closed
2,312
2,443
-5.36%
Avg Days on Market
37
42
-11.90%
Average Sold Price
$544,054
$513,659
+5.92%
MARCH 2020
Active
3,829
4,314
-11.24%
New Listings
4,700
4,283
+9.74%
Under Contract
3,617
3,765
-3.93%
Closed
3,018
3,182
-5.15%
Avg Days on Market
28
32
-12.50%
Average Sold Price
$567,382
$528,865
+7.28%
MADISON & COMPANY PROPERTIES

Residential
Attached
Average Sales Price
Year-To-Date
$371,205
2019
$355,534
2018
$349,936
Q1 MARKET REPORT - 2020

JANUARY 2020
Active
New Listings
Under Contract
Closed
Avg Days on Market
Average Sold Price
MONTH END
1,644
1,598
1,575
956
45
$355,754
YEAR AGO
1,854
1,526
1,176
851
40
$357,091
% CHANGE
-11.33%
+4.72%
+33.93%
+12.34%
+12.50%
-0.37%
RESIDENTIAL ATTACHED
FEBRUARY 2020
Active
1,634
1,915
-14.67%
New Listings
1,632
1,548
+5.43%
Under Contract
1,575
1,318
+19.50%
Closed
1,117
1,068
+4.59%
Avg Days on Market
41
34
+20.59%
Average Sold Price
$368,936
$349,231
+5.64%
MARCH 2020
Active
1,947
1,978
-1.57%
New Listings
1,963
1,922
+2.13%
Under Contract
1,375
1,640
-16.16%
Closed
1,278
1,346
-5.05%
Avg Days on Market
31
30
+3.33%
Average Sold Price
$386,344
$359,552
+7.45%
MADISON & COMPANY PROPERTIES

MARKET TRENDS
LUXURY MARKET
Residential Properties Sold at $1 Million and Above
Avg. Days on Market
List Price / Close Price
Price Per SF
Average Sales Price
YTD
72
96.81%
$367.00
$1,552,348
2019
72
97.36%
$328.00
$1,563,439
SIGNATURE MARKET
Residential Properties Sold Between $750,000 and $999,999
YTD 2019
Avg. Days on Market
List Price/Close Price
Price Per SF
Average Sales Price
54
98.77%
$248.00
$843,121
57
98.59%
$243.00
$844,070
PREMIER MARKET
Residential Properties Sold Between $500,000 and $749,999
YTD 2019
Avg. Days on Market
List Price/Close Price
Price Per SF
Average Sales Price
44
99.44%
$221.00
$592,607
46
98.98%
$210.00
$592,947
Q1 MARKET REPORT - 2020

SUPPLY AND DEMAND
A Decade of
Supply and Demand
in Denver Real Estate
MADISON & COMPANY PROPERTIES

Metro Denver
Economic Indicators *
UNEMPLOYMENT RATE
2.7% YTD
As of April 2020, the YTD Colorado
Unemployment Rate was 2.7%, which is down
.9 percentage points from 2019 YTD Average.
COMPANIES HIRING
27% in April 2020
Companies hiring rose 1 percentage point from Q1 2020 to
Q2 2020. Companies hiring in the Denver area YTD average
down 2 percentage points compared with 2019.
* Metro Denver Economic Indicators: Monthly Economic Indicators for April 2020 (http://www.metrodenver.org/researchreports/monthly-economic-indicators/).
** Median US Home Value from Zillow Home Values, data through Feb 29, 2020.
Q1 MARKET REPORT - 2020

MEDIAN PRICE FOR
EXISTING HOMES
$247,084
National **
ECONOMIC INDICATORS
RESIDENTIAL BUILDING PERMITS
2,706 Permits YTD
Though permits increased 19.6% from
January 2020 to February 2020, YTD permits
were down 12.2% through February 2020.
APARTMENT VACANCY RATE
5.1% YTD
Vacancy increased .6 percentage points from
Q3 2019 to Q4 2019, and YTD average down
.8 percentage points from last year.
MADISON & COMPANY PROPERTIES

© March 2020 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. All information and data
deemed reliable but not guaranteed. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Sources: January, February, and March 2020 DMAR Market Trends Reports. Images: Front & Back Cover: 4505 S Yosemite
Street #104 | Listed by Brianna Griffin, Madison & Co. Page 3: 684 Humphrey | Listed by Peg Schroeder, Tupper’s Team, Madison & Co. Page 4: 2200 W 67th Place | Listed by Karen Anderson, Madison & Co. Page 6: 1699 N Downing Street #210 | Listed
by Lina Krylov & Luca Baud, Madison & Co. Page 8: Luxury Market: 684 Humprey, Peg Schroeder. Signature Market: 10560 Soulmark Way, Tina Christensen. Premier Market: 521 E 11th Avenue, Karen Anderson. Metro Denver Economic Indicators:
Monthly Economic Indicators for April 2020 (http://www.metrodenver.org/research-reports/monthly-economic-indicators/). ** Median US Home Value from Zillow Home Values, data through Feb 29, 2020.