DenverMarketWatch – Trumponomics?

Denver’s Weekly Residential Market Watch
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November 2019

Good Morning Everyone!

Let’s take a quick look at what the Denver MLS has to say to us this week.

New Listing (1116)
Back On Market (196)
Price Increase (160)
Price Decrease (1249)
Under Contract (1240)
Withdrawn (179)
Leased (57)
Sold (1119)
Expired (217)

I believe this is a good week write anecdotally.

Working with a buyer in the $300-500K in the last week there were about 20 homes in a large geographic area when we started. Today, more than half of those listings are under contract. The remaining active listings all suffered from location, floor plan or condition deficiencies which will probably require a +5% price reduction.

Another buyer in the $700-950K price range in a relatively small geographic area only had one new listing last week. It backed to a significant nuisance, and was located under the Centennial Airport’s north approach. We passed on it, but the market didn’t. It’s now under contract. “One man’s trash is another man’s treasure.”

Basically, the market is so thin with new inventory, buyers are jumping on anything and everything, but I’m asked, Will it last?

The numbers say it will, the Under Contracts and Solds this week were very strong, and the Active Listings are just not keeping pace. Let’s think about this for just one minute. In the Greater Denver Metro Area, there are 1.5M residences. We have about 9,500 active listings. The insignificance of this ratio is epically low.

We will have a plethora of economic news this week. For the next 12 months, it will be the goal of one party to characterize this news negatively, and the other party to characterize this news as the “next coming”. Long story short, we have an EPIC ride in front of us. Fascinating times, enjoy!

A successful move, relocation, down pricing, down sizing or even 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 hour 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

The Cryer Team
The Cryer Team
Tom and Dee Cryer
303-638-3202 Tom
303-887-3917 Dee
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Denver, CO 80237
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About Tom & Dee Cryer

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