As we approach the last week in August, as school starts up again and the cool nights start to make summer just a memory, it’s important to note; The numbers don’t lie. Earlier in the year we saw maybe 300 listings a week with price reductions. Now we are seeing close to 1,500/week. This is a clear indication sellers are listening to the feedback from showings, hearing the noises of a changing market and their reaction is resulting in price reductions in large numbers.
Our weekly MLS numbers once again reveals to the #DenverMarketWatch, what’s really happening. You may not like what they are saying or maybe you do. The fact remains, we are in a different market today, than we were in March. Let’s keep an eye out for more change as we move into this election season. Only time will tell!
New Listing (1660) This is a good week. Anything over 1,500 creates supply for buyers.
Back On Market (323)
Price Increase (117)
Price Decrease (1474) Wow! This number is crazy big! Sellers are fighting for buyers!
Under Contract (1634) This is a very good week for contracts, but we’ve seen bigger.
Sold (1487) Strong week, but we’ve seen better.
Overall, the #DenverMarketWatch tells us our numbers are generally good, but watch that “Price Decrease” number. This reflects a market where sellers finally have to pay attention to the buyers’ feedback.
As always, we here for you to help dissect the numbers, clear the path and help light the end of the tunnel to make your home transaction as smooth as possible. Don’t hesitate to give us a call. Tom & Dee 303-773-3399