Supply vs. Demand

Good Morning Everyone,

Today’s post is all about an education.  An education of what’s going on around the Denver Residential Housing Market.

When doing a mid-year recap, I always like to look back to see forward.  Follow along with my notes below from these two weekly MLS reports.

March 5, 2018

New Listing (1329)
Back On Market (193)
Price Increase (188)
Price Decrease (534)  The Ratio of Price Decrease to Under Contract is 32%.
Under Contract (1653)
Withdrawn (119)
Leased (41)
Sold (1635)  The ratio of New Listings to Sold Listings is 81%.
Expired (326)

July 30, 2018

New Listing (1694)
Back On Market (312)
Price Increase (120)
Price Decrease (1410)  The ratio of Price Decrease to Under Contract is 78%.
Under Contract (1795)
Withdrawn (211)
Leased (44)
Sold (1583)  The ratio of New Listings to Sold Listings over 100%.
Expired (214)

OK, what does all this mean?  We are clearly witnessing a market swing.  As so often happens this time of year, buyers are tiring, sellers are weakening and the brokers that make the market are pressing to get the transaction moving.  The only tool left in their basket is a price reduction.

With all this being said, if you are in the market, contemplating be in the market or just dipping your toes to create a plan for the future, we are here for you every step of the way…tc