Alexander Graham Bell said; “When one door closes another door opens, but we so often look so long and so regretfully upon the closed door, that we do not see the ones which open for us.” How true! His prediction for the future wasn’t so bad either.
This is somewhat like watching Denver Market Data week in and week out. Some of the time, we need to step back and take a look at the big picture, and understand how it affects the “little picture.”
This week, the story is “more of the same”; More Contracts than new listings once again.
New Listing (1109) This is a very healthy number for buyers!
Back On Market (182)
Price Increase (112)
Price Decrease (631) Sellers finally getting “in the game”!
Under Contract (1241) The new listings coming to market and the seasoned listings with price reductions are showing the way for all these contracts.
Sold (796) This is picking up a little each week. This number will skyrocket if these contracts continue to stack up!
Getting back to the “big picture”, we are observing better interest rates than the last quarter of 2018. Conforming loan limits are being raised. New mortgage products are being served around the fringes. New construction is “catching up” to the market demand, and we are personally seeing some long term residents finally listing their homes and “moving on”. All of these factors are helping our market once again set itself up for success!
If you’ve been waiting for “your door to open” after being shut out for so long, come back to the market, take a look around. Even though. on the surface, it may look the same, in fact, there have been many changes since you were last out looking. There is a new door open for you, and we will help open it for you every step of the way!