Everyone always asks, “How’s the market?” I usually respond with, “We are very fortunate to always be busy.” In the ’80s when we had a regional real estate depression, we were on the field helping relocation companies, banks and individuals solve their real estate “problems”. In ’99, we were there for the dot.com and telecommunication consolidation. When the foreclosure cycle started in Denver during the early 2000s, we were there to bail everyone from individuals, to banks to portfolio property managers out of their inventory. And, now we look for the disrupters we can’t see around the corner. What will happen next, and when will we all know? “Something” is going to happen; but what? Only time will tell.
Let’s take a quick look at what the Denver MLS has to say to us this week.
New Listing (858) Wow, is this ever a low number! Lowest I can remember all year.
Back On Market (213)
Price Increase (120)
Price Decrease (1147) Sellers are still curbing their enthusiasm.
Under Contract (1163) This is a nice strong seasonal number.
Withdrawn (243) Will these reappear? Or, sellers giving up?
Sold (1365) What a great seasonal number. This is almost a peak season number!
With the last month reporting 9,286 Active Listings and 4,506 Sold Listings over the entire Denver Market; that reflects little more than 2 months supply. So this week when we see more Sold Listings than new Active Listings, this ratio can only improve. This shows great strength as we move into the fall and winter and seasons! Although I’m not seeing a disrupter on horizon, and can tell you, “We are safe this week”.
Let’s not get hung up on what might happen. If we look at this graph, supply and demand ebb and flow. This has not changed since the beginning of data. We still have great data ratios and there is not evident appearance this will change anytime soon. Keep tuning in, and we’ll keep you posted!
A successful move, relocation, down pricing, down sizing or moving up takes planning. Jumping out of a airplane without a parachute is not healthy. The proper order and proper plan for buying or selling a home requires the same attention to detail. Give us a call, come in, spend just one house with us. Let us show you a clear pathway to a successful transition. We’ll be there for you…
Dee and Tom Cryer TheCryerTeam@Kentwood.com 303-638-3202