Denver Real Estate is Overvalued

IMPORTANT PLEASE READ: In the first minute of this video, I said demand has stayed “low” when I actually meant “high,” which, you may notice, is the opposite thing. I strive to serve up the best local Denver content on a weekly basis, but I, like all of us, am flawed. I ask your forgiveness in this instance. You know what I meant.
Is Denver real estate overvalued? The whole market overpriced? 1 publication seems to think so. We go through it here, and look to the future.
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[@koko4kosh960]

I walk the dog through my neighborhood in Sloan(s) lake and Highland everyday. There is at least one home for sale on each block some two, even two next to each other. But one difference is I have seen 3 listed for Lease which I has been rare to see in this nieghborhood.

[@srichardson80234]

Sam, I love your channel! Keep it up!

[@eyelovecolorado2195]

We lived in Highlands Ranch for 5 years from 2013 to 2018. In that time our home barely went up in value, maybe around 1-2% per year. Fast forward to 2022 that home DOUBLED IN VALUE in just 1.5 years because of the pandemic. Today, July 2024, it’s come down 10% from the high but still overvalued by 30% in my mind. This was for a cookie cutter home with terrible construction quality.

[@rowan1043]

Great video, thanks Sam!

[@DenverLivingwithSam]

Thank YOU!

[@SammyG6714]

Most good homes in the metro are over $400K and many times $500K which is outrageous if you see the shape of some of these houses lmao

[@GBennet]

It's not just the price. It's specifically the price per square foot that is insane

[@Orenoryori]

Easily overpriced to the tune of 20%-25%. The City did the population no favors with their revaluation of properties; actual values have almost always set a precedent in the past where the municipality’s “actual value” was about 10% less than market. Now, the revaluation has thrown everything off, and you have average to somewhat nice houses being buoyed and overvalued. The scrape offs and renovations resemble that of the contemporary McMansions replete with $85 Home Depot fixtures. Not every area can command Wash Park prices - I don’t give a shit how tony the area is.

[@mrbuckmeister]

Only 7% higher than Jacksonville FL. :-) All the issues you mentioned are real. We gave up 2.5% for 5.5%. We paid less than we sold for and we got less house. Having the house you own be close to equally overvalued or even better more overvalued is all that can make the math work. First time buyers are completely out in the cold.

[@DenverLivingwithSam]

Shouted this out in the most recent video. Spot on!

[@Chinunit22]

Wait until interset rate drops. People are going to pay 50k over asking inflated price. Show me the payment, not the price.

[@jeffleischner2870]

Sam, I love how you explain the real estate market and trends. You make it so that everyone can understand what you are sharing. Keep the videos coming.

[@DenverLivingwithSam]

It is my pleasure and thank you so much for your kind words. I appreciate you watching!