As we move into week two of Q2 2018, there is possibly a trend starting that will be of great assistance. What’s that you ask? Well, the answer is supply. This week over last week, supply jumped by 700 new listings!
We have not observed one week this year where New Listings has exceeded Under Contract Listings, but this week we did.
What does this mean? This means if we can keep this new pace of supply up over the long term, we could move into a more balanced market where buyers have a chance for a second showing before “All offers are due by…”.
New Listing (1720) This is a HUGE number!
Back On Market (217)
Price Increase (305)
Price Decrease (663)
Under Contract (1633) Chasing right behind new listings is the omnipresent demand!
Sold (1340) Week after week, this continues to be very solid. Not record pace, but close!
With all this said and sprayed, the Denver Market remains healthy, it is trending upward in number of sales and price, but now for the first time in recent history, we may have supply which could ultimately grow this market even more…tc