Good Morning Everyone!
Let’s take a quick look at what the Denver MLS has to say to us this week.
| New Listing (717) |
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| Back On Market (173) |
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| Price Increase (405) |
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| Price Decrease (443) |
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| Under Contract (757) |
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| Withdrawn (101) |
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| Leased (56) |
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| Sold (1016) |
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| Expired (970) |
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Observations from 2019 are making #2020Vision a little cloudy… Aren’t they?
 Basically, the market is so thin with new inventory, buyers are jumping on anything and everything, in some neighborhoods, but being a bit more “picky” in others. Anechdotally, we have had three of our listings go under contract in the last few weeks before, during and after the holidays. The toughest sale was the most geographically distant from Downtown and the DTC. Proximity is always a concern for buyers. As we approach the limits of affordability, this may be even more so.
As you can see from the graph above, we finished the year with slightly more than 5,000 acctive listings while averaging about 5,000 closings each month. From this, we can see, 1 month’s supply of inventory in a market as big as Denver with 1.5M households. This market is primed once again for the spring rush with a dirth of inventory. It does not appear to have any reason to change. Builders are not interested in building inventory, our senior population is aging in place in record numbers in the metro area and the inmigration numbers continue to beat national averages.
So, what’s a buyer to do? We have a very successful system for buyers, and we have unmatched results with our listings too.
The numbers still tell us, 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 5,000 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
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