What did we see in the Denver Market this week? Even though we put 1,640 listings under contract, we had 965 with price reductions. WE are starting to see a bifurcation in the market place. Higher price ranges are seeing price reductions. Lower price ranges are requiring significant attention to their pricing too.
Anecdotally, we put one under contract last week that had received to price reductions. After the second price reduction, we jumped in a “snapped it up”. This time of year, sellers get tired of the process. Some become more flexible. As a result, this is always a good time to take a second look.
Properties close to urban access remain in very high demand. As the location become suburban, distant suburban and rural, we are clearly seeing a market cooling off for the season.
|New Listing (1030)|
|Back On Market (245)|
|Price Increase (117)|
|Price Decrease (965)|
|Under Contract (1640)|