Good Monday Morning Everyone!
What have we re-learned over the last week? I say re-learned because we are constantly learning something new, but sometimes it is what we have re-learned is most important.
In the last week, I re-learned, well priced, well cared for and well positioned (located, etc.) homes in this market are still selling like crazy. Another 1,380 listings went under contract in the last 7 days. By no means is this a record, but it does tell us, buyers are in the market, they are ready to spend and if the aforementioned items are readily apparent to said buyer, the listing is going under contract!
So, let’s look at the last 7 days in our MLS:
New Listing (1347) Sellers are not afraid to compete in this market! This is a strong number as we move into the Holiday Season!
Back On Market (307)
Price Increase (183)
Price Decrease (1374) These are sellers willing to compete with the new inventory.
Under Contract (1380) These are buyers finding their way in a confusing market.
Sold (1594) I’m predicting solid numbers through year’s end here. This is a good week! Buyers and Sellers always want to get it done by year’s end.
In summary, the market continues in the right direction. Seller’s may not be getting as high a price as they would have earlier in the year, but they are obtaining a higher price than year’s past, buyers may be perceiving a “good deal”, and everyone is leaving feeling like a winner.
It’s often been said, “Buyers want last year’s prices, and sellers want next year’s prices”. This market may just be providing the “equilibrium” both sides are seeking. There can be a balance. When the script is finished, 2018 will be a very good year for Denver’s Residential Real Estate.
Tomorrow’s election results will provide joy and disappointment to “both sides”. In the end, however, life will go on, we will still be stuck with some entity fooling with our clocks. We will continue to lack money for public employee pensions. We will struggle to find funding for roads. And, we will all be wondering, “What were they thinking?…”
All I can say, “Get involved”! Be a part of your HOA, your town, your county, your state, etc. Get out there, take a risk, be heard! The arguments on all sides demonstrably resonate with our family, friends, neighbors and co-workers across the country. The problems in Boston are different than the problems in Denver. And the problems in Salt Lake are different than the problems in Tulsa. We are different, our geographic problems are different and our political biases are different, but the one thing we all have in common is tomorrow. We can work together to make it better, or we can sit back and let someone else do it. We have a choice!