Hello to All You Wonderful People Out There!
Once again, Denver is shaping into a “Sellers’ Market”. Some in the press are expressing concern for the Active Listing Count, but I would push back with the expansion of the report’s geographic boundaries, and what was a market with no supply is becoming a market with a very reasonable supply.
As you can see below, if we put 1,494 active listings under contract every week, we would have a record year for closings. It could happen, but I’m not willing to pull that lever yete. In the meantime, please note, the ratio of new listings to under contract is -.76. This is a very strong number, but we will keep an eye on this and let you know every week. When this ratio turns positive, this means listings are out pacing contracts.
New Listing (1136) This is a good number moving into spring. Helping buyers!
Back On Market (206)
Price Increase (99)
Price Decrease (781) Keep an eye on this one. Are sellers coming out too strong?
Under Contract (1494) Wow, this is a big number!
Sold (1066) This is a nice solid number for a market staring a new year…
When all is said and done, none of us really knows what the future of Denver’s Residential Market might bring, but for now, let’s just say, “It is showing great strength, and we look forward to the outcome later in 2019”.
I have to leave you with something to think about, or it wouldn’t be a #MondayMarketUpdate. As you can see from our graphic up top, (Thank You United Van Lines!) Colorado still shows very strong numbers from one household goods mover. This bids well for continued population growth. Even though the “numbers people” say 2/3rds of our growth is along the front range from Pueblo to Ft. Collins, the other 1/3rd is spread across the entire state. Colorado is fast passing 5 million in total population. This makes the total population of the state about the same as Houston, TX. Think about that for awhile…tc