Good Morning Everyone!
Let’s take a quick look at what the Denver MLS has to say to us this week.
|New Listing (739) The seasonal trend of slowing is upon us!
Back On Market (179)
Price Increase (227)
Price Decrease (878) Sellers still chasing the last of the buyers for 2019…
Under Contract (1056) Surprisingly good number. Buyers are still looking for value.
Sold (1213) A good week any time of the year!
“I cannot forecast for you the market action in Denver. It is a riddle, wrapped in a mystery, inside an enigma; but perhaps there is a key. That key is our national interest.”
If you’ve followed us for any time at all, you’ve seen my method of stealing famous quotes and making them my own. This one by Winston Churchill was easy to repurpose for Denver’s market TODAY!
After surgically making this quote my own, what I’m trying to say is simple. Like so many times in the past, Denver has been reliant on what happens around us. Being “500 Miles from Nowhere” does create that riddle. With the point of a pencil, Washington can ruin an economy like ours, or it can make it grow like crazy! We will have to be patient and see what happens next, but I’m confident that 2020 will be more of the same for Denverites. Not enough supply of the homes buyers want to own, and just enough inventory in our 2nd tier neighborhoods offering just enough compromise for the typical buyer to move forward out a little further.
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, but 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. Fasten Your Seatbelts, 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 303-887-3917