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www.DISCOVERCASTLEPINES.com
2020 Was A Record Setting Year in Metro Denver The low inventory is because buy-
er demand is higher than ever.
Home sales in the 2nd half of 2020
were 16.7% higher than homes
sales in the 2nd half of 2019.
The average home price increased
8.4% to $573,590 for a detached
single family home. The 4th quar-
ter 2020 average sales price was
$605,476, which was 16.9% higher
than the $518,002 average sales
price in the 4th quarter 2019.
The low inventory is going to con-
tinue to drive up home prices in
metro Denver in 2021. It will be a
great time to sell your home for
top dollar. Buyers will have to be
prepared to make offers above list
price for well priced and well
maintained homes. If you have
more questions about the real
estate market or what your home
is worth, feel free to call or email
me.
2020 was a record setting year in
metro Denver real estate. No
one would have predicted this
with COVID and the lockdowns
that occurred in March through
May. Despite slow sales in April
and May due to COVID lock-
downs, more homes sold in 2020
than in any previous year in met-
ro Denver. 43,056 homes sold in
the 6 county area, which was an
increase of 5.6% from the previ-
ous sales record set in 2019 when
40,644 homes sold.
The most shocking record set
was the low inventory. At the
end of December 2020 there
were only 1,486 detached single
family homes for sale. Prior to
2020, the lowest ending inventory
in the past twenty years was
3,301 homes for sale, which was
recorded in February 2017. Oc-
tober, November and now De-
cember 2020 all had lower ending
Doug Hutchins —ABR, CRS, GRI, MBA—
DK Hutchins Real Estate, Inc.
Kentwood Real Estate DTC Broker Associate
Cell: 303.886.3437 [email protected]
inventory levels.
Despite low inventory levels 3,399
homes closed in December, which
set a new December sales record.
The December sales were 15.8%
higher than the 5 year December
average of 2,935 home sales.
Based upon the ending inventory
levels and the 2020 sales pace,
there is only 12 days of inventory
available in the metro Denver mar-
ket. A balanced market would be
120 to 150 days of inventory (4 to
5 months).
There is a perception in the mar-
ketplace that inventory is low be-
cause fewer sellers are deciding to
sell their home. This actually is
not true in the 2nd half of 2020.
Since June 2020, 22,202 homes
have been listed for sale. This is a
7.4% increase in new listings com-
pared to the 20,666 homes listed
for sale in the second half of 2019.
3 REASONS WHY SELLERS HIRE
THE DOUG
HUTCHINS TEAM TO
SELL THEIR HOME
1. MORE MONEY
The Hutchins Team sells
Castle Pines homes for 2.0%
more money than the
average agent.
2. FASTER SALE
The Hutchins Team sells
Castle Pines homes 3.0 times
faster than the average agent!
3. BEST IN CUSTOMER
SERVICE 11 STRAIGHT
YEARS!
Rated by Five Star Profession-
als from 2010 to 2020 as one
of Denver's top agents based
on past client satisfaction.
MLS Stats Castle Pines 1/1/19-12/31/20
Excludes New Construction and Sales over $1M
* Doug and Seller must agree on
price and closing date.
Real Estate News ~ 4th Quarter 2020
CASTLE PINES Your Home Sold
GUARANTEED
Or I’ll Pay You
$5000 *
What Did the
Home Down the
Street
Sell For?
Find out what homes down
the street sold for and what
homes are for sale in your
neighborhood!
Call 1-800-318-7541 and
enter ID# 1041
to receive your neighbor-
hood list!
Want to Sell Your Home But Scared You Won’t
Find a Home to Buy? report that reveals the 6 best
strategies homeowners can use
in a low inventory market to
make sure they find and purchase a home they really want without
taking big financial risks, owning
two homes at the same time, or being homeless.
To hear a brief recorded mes-
sage about how to order your FREE copy of this report, call toll
free 1-800-318-7541 and enter
1011. You can call any time, 24/7 to order your free special
report to find out how you can
find a home you love and sell your current home.
lem is for a homeowner to pur-
chase their next home before
selling their current home.
However, most homeowners do not have the financial capacity to
purchase their next home with-
out selling their current home. Even if a homeowner has the
financial capacity to purchase the
next home without selling their
current home, many homeown-ers simply do not want the risk
or burden of owning two homes
at once. This can be a complicat-ed and frustrating dilemma!
To address this issue, industry experts have created a special
Low home inventory in the metro
Denver real estate market has
created a serious problem for
homeowners wanting to sell their home and purchase another home
in metro Denver. With very few
homes to choose from, homeown-ers are scared to sell their current
home because they are unsure if
they will be able to find a home to
purchase that meets their needs and is within their budget. So in-
stead of selling their current home,
they stay and make due even though their current home no
longer meets their needs.
The easiest solution to this prob-
www.DISCOVERCASTLEPINES.com
A FEW OF THE HUTCHINS TEAM SALES AND LISTINGS
624 Horan Court
Castle Pines 4 Beds, 4 Baths, 3,915 finished sf.
Gourmet Kitchen! Beautiful Landscaping and Exterior Lighting! Free Recorded Info.
1-800-318-4511 ID #1002
2246 Mountain Sage Dr.
Highlands Ranch Updated 4 Bedroom 4 Bath home in
Timberline Ridge. 2 gas Fireplaces. Hardwood Floors. Master Retreat!
Free Recorded Info.
1-800-318-4511 ID#1013
9447 Southern Hills
Lone Tree 3 Beds, 4 Bath , Townhome Style
Condo. 2-Car Attached Garage. 3 Amazing Outdoor Spaces!
Free Recorded Info.
1-800-318-4511 ID #1023
330 Shoreham Circle
Castle Pines 5 Bd + Loft, 4 Bath and 4,213sf!
Light-filled home! Stunning master bath. Beautifully finished walk-out basement!
Free Recorded Info.
1-800-318-4511 ID #1005
7707 Buffalo Trail
Castle Pines Gorgeous Home Backing to Daniels
Park with Extraordinary Mountain Views! 5 Beds 4 Baths 6,968sf!
Free Recorded Info.
1-800-318-4511 ID #1008
7290 Halite Court
Castle Rock 3 BD, 2 BA, 3,396sf Ranch! Oversized 3
car garage! Sides and backs to open space! Nicely updated! Free Recorded Info.
1-800-318-4511 ID#1014
1167 Buffalo Ridge Road
Castle Pines 5 Beds. 5 Baths. 6710sf! Backs to Open
Space! Stunning Wood Staircase! Fin-ished Walkout Basement! Mountain
Views! Free Recorded Info.
1-800-318-4511 ID #1021
Home sales in Castle Pines followed the
lead of the metro Denver market with
higher home sales and home prices com-
pared to 2019 plus record low home inven-
tory.
Original Communities
Low home inventory with a brisk sales pace
defined the 2nd half of the 2020 real estate
market in the Original Communities.
There were only 4 homes for sale at the
end of December, which was a new record
low. The prior 5 year average for homes
available for sale at the end of December
was 27 homes. This is an 85% reduction in
available inventory compared to the 5 year
average. All 4 homes available for sale
were priced below $1,000,000.
Despite low inventory in the 2nd half 2020,
the number of homes sold still increased
5% over 2019. The combination of strong
sales and low inventory did result in price
increases, but the price increases occurred
in the 2nd half of 2020. The average sales
price in the 1st half of 2020 was only
$706,534 compared to an average sales
price of $749,397 in the 1st half of 2019, a
5.7% decrease. The 1st half sales were
significantly impacted by COVID and the
shutdown. High end sales were impacted
the most with only 5 $1,000,000+ home
sales in the 1st half of 2020 compared to 12
$1,000,000+ home sales in the 1st half of
2019.
But the slow 1st half of the year was more
than offset by strong activity in the 2nd half
of the year. The average home prices sky-
rocketed in the 2nd half of 2020 with an
average sales price of $791,978, a 12% in-
crease over the $706,534 average of the
1st half of the year. It was also a 6.0% in-
crease over the 2nd half 2019 average price
of $747,094. In general, home prices at the
end of 2020 were 5% to 7% higher than
2019 prices in most neighborhoods.
At the current sale pace, there is only 8
DAYS of active inventory in Castle Pines.
A balanced, normal market should have 4
to 5 MONTHS of inventory. This low in-
ventory level would indicate home prices
rising 10% or more in 2021. HOWEVER,
several market experts feel home prices
will be constrained by the already high cost
of housing compared to salaries in metro
Denver, limiting price increases to the 6%
to 8% range in 2021. 2021 will be a great
time to sell your home!
New Communities
The low inventory in the resale market
fueled strong new construction sales with
the builders in Castle Pines. All the builders
in the New Communities were building
homes at maximum capacity in 2020. 142
home sales were recorded in the MLS sys-
tem (builders do not report all home sales in
the MLS system so total sales were even
higher than the MLS reported number).
This is a 318% increase in sales compared to
the 34 home sales reported in MLS in 2019.
Builders kept home prices steady from
March to July, but have been implementing
regular price increases since July due to the
strong market. The builders in The Can-
yons generally do not have any standing in-
ventory that can be moved into immediate-
ly. Buyers in The Canyons are having to
wait 6 to 9 months for a home to be built
once they purchase a lot. Reported home
sales in the New Communities could surpass
200 homes in 2021 and exceed the number
of sales in the Original Communities. Buy-
ers purchasing a home in the New Commu-
nities are generally not looking at homes in
the Original Communities.
CASTLE PINES MARKET COMMENTARY
683 Briar Dale Dr.
Castle Pines 5 Beds, 5 Baths, 3,800 finished sf.
Finished Walkout Basement! Mountain Views! Large Master Suite.
Free Recorded Info.
1-800-318-4511 ID #1022
www.DISCOVERCASTLEPINES.com
Historical Interest Rates (30 YR fixed
Freddie Mac)
12/31/20 2.68%
9/30/20 2.89%
6/30/20 3.16%
3/31/20 3.45%
12/31/19 3.72%
WHAT THEY ARE SAYING ABOUT DOUG AND HIS TEAM
Preparing and listing your home can
be quite stressful. Doug Hutchins and
his entire team helped make the pro-
cess easier. From the pre-inspection
and staging , along with Doug’s superi-
or marketing strategies and
knowledge of the current housing
market in our community, our home
sold one day after it was listed.
His team kept us up to date on infor-
mation from the start until the final closing. As an added bonus, he provided
the buyers with a home warranty! We greatly appreciate all those involved
and highly recommend Doug Hutchins as your choice of realtors.
Todd and Ria —Castle Pines
FREE
HOME SELLER KIT
21 page report detailing everything you need to know about selling your home including staging tips, how to price your home, common inspec-
tion traps and negotiation strategies.
Go to:
CastlePines SalesKit.com
to order your Free Kit!
Single Family Homes 2018
Jan 1—Dec 31 2019
Jan 1—Dec 31 % Change from 2018
2020 Jan 1– Dec 31
% Change from 2019
Average Sales Price $618,547 $623,681 0.8% $686,498 10.1%
Average Square Footage of Homes Sold 2,913 2,706 -7.1% 2,759 2.0%
Average Price per Square Foot $216 $237 9.7% $255 7.6%
Average Days To Sell 82 61 -25.6% 59 -3.3%
Number of Homes Sold 19 34 78.9% 142 317.6%
CASTLE PINES MARKET STATISTICS—New Communities
New Communities include The Canyons, Castle Valley and Castle Pines Town Center
Sales data for the new communities only includes sales placed in REcolorado® by builders and does not reflect all home sales in the new communities. Based on information
from REcolorado®, Inc. for the period 01/01/2018 through 12/31/2020. Not all properties were listed and/or sold by Kentwood Real Estate. Content maintained by REcolora-
do®, Inc. may not reflect all real estate activity in the market.
6 Things You Must Know Before Obtaining a Mortgage
Homebuyers often make 6
common and costly mistakes when they are shopping for a
mortgage. Mortgage regulations have changed significantly over
the last few years. Options have re-appeared for buyers
that had been eliminated imme-diately after the foreclosure crisis of 2008 to 2010. Subtle
changes in the way you ap-proach mortgage shopping, and
even small differences in the way you structure your mort-
gage, can save or cost you liter-ally thousands of dollars and
years of expense.
Whether you are about to buy
your first home, or are planning to make a move to your next
home, it is critical that you in-form yourself about the factors
involved before you buy. To address this issue, Industry In-
siders have prepared a FREE special report entitled "6 Things
You Must Know Before You Buy".
There are a number of ques-
tions you must ask yourself be-fore you commit to a certain
type of mortgage. How long do you think you will own this home? What direction are in-
terest rates going in, and how
quickly? Is your income expected to change in the near
term?
Having the right information be-fore deciding how to finance
your home is critical. To hear a brief recorded message about
how to order your FREE copy of this report, call toll-free 1-800-
318-7541 and enter 1004. You can call any time, 24 hours a day,
7 days a week. Get your free special report NOW to find out
what you need to know before you buy a home.
Receive Top
Dollar For
Your Home!
Free report reveals how
to set your asking price
when selling your home.
To order your
free report,
call
1-800-318-7541
and enter ID# 3016
PRSRT STD US POSTAGE
PAID Permit #2897
Denver CO
Doug Hutchins 4949 S. Niagara Street, Suite 400 Denver, CO 80237
If your home is currently listed, please disregard this notice as it is not our intention to solicit other broker’s listings. All information deemed reliable but not guaranteed. *Doug and Seller must agree on Price and Closing Date
CASTLE PINES REAL ESTATE NEWS 4th Quarter 2020
Your Home Sold
GUARANTEED
or I will Pay you $5000 *
FIND OUT WHAT YOUR
CASTLE PINES HOME IS WORTH ONLINE
For a Free, Quick Online
Home Valuation Visit:
www.CastlePinesHomeEvaluation.com
IN THIS ISSUE
-Homes available for sale at the end of December in the Original Communities was 85% below the 5 year average! -Want to sell your home but worried you won’t find a home to purchase? 6 strategies to mitigate this risk! -Average home prices increased 12.0% from the 1st half of the year to the 2nd half of the year in the Original Communities! -6 Things You Must Know Before Obtaining A Mortgage
CASTLE PINES MARKET STATISTICS—Original Communities
Single Family Homes 2018
Jan 1—Dec 31 2019
Jan 1—Dec 31 % Change from 2018
2020 Jan 1– Dec 31
% Change from 2019
Average Sales Price $757,286 $748,186 -1.2% $760,677 1.7%
Average Square Footage of Homes Sold 3,018 2,887 -4.3% 2,868 -0.6%
Average Price per Square Foot $253 $262 3.6% $267 1.9%
Average Price per Finished Square Foot $190 $190 0.0% $201 5.8%
Average Days to Sell the Home 39 43 10.3% 34 -20.9%
Number of Homes Sold 192 192 0.0% 202 5.2%
Excludes new home communities which are The Canyons, Castle Valley and Castle Pines Town Center
Based on information from REcolorado®, Inc. for the period 01/01/2018 through 12/31/2020 for Single Family Homes. Not all properties were listed and/or sold by Kentwood
Real Estate. Content maintained by REcolorado®, Inc. may not reflect all real estate activity in the market.
