Seasonality, Election, Economic Events, Sentiment, International Trade, Market Volatility or… Take your pick, as the world turns, so does our Denver Residential Market. As you can see below, not the difference in the our market today, and then back in April. WOW! What a difference!
Monday, December 3, 2018
New Listing (762)
Back On Market (200)
Price Increase (115)
Price Decrease (925)
Under Contract (1018)
April 9, 2018
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 this comparison made, in my opinion, most of this is seasonal as opposed to a new direction for Denver’s market. We often see things drop off around this seasonal time of year. If I was a betting man, I would bet 2019 would be different, maybe weaker, than 2018, but not significantly.
I will circle back to this post in a few months, we will revisit this data and make some predictions moving forward in 2019. Typically, residential markets move at glacial speed, I would suspect, this will be no different. Change takes time.
In the meantime, if you have some plans to buy or sell in 2019, let’s discuss a plan to maximize your sales price or strategically place you in the market as a well informed buyer. One always wants to negotiate from a place of strength. All it takes is one call…tc
Dee and Tom Cryer 303-773-3399 TheCryerTeam@Kentwood.com