DenverMarketWatch – 2020Vision

Denver’s Only Weekly Residential Market Watch
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January 2020

Good Morning Everyone “01/28/2020”

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

New Listing (1030)
Coming Soon (0)
Back On Market (173)
Price Increase (273)
Price Decrease (727)
Pending (1398)
Withdrawn (113)
Leased (59)
Closed (986)
Expired (211)

Let’s get right into it. 2020 Is off to the same dynamic as 2019. More Pendings than New, and again this week mirrors last week. Limited Supply, Favorable Demand and Low Interest Rates. Life is very good for most sellers in this market. Life is “hard work” for most buyers. We are surrounded by entire neighborhoods with NO inventory, NONE, and when it does approach the market, buyers are like “Great Whites” off of Cape Cod.

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. Anecdotally, we are running low on listings. We have had a rapid response to everything we’ve put on the market, and we are receiving phone calls about “Off Market” listings “coming soon”.

The numbers still tell us, the Under Contracts and Solds this week were very strong, but the Active Listings are still 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 are expecting 2020 to have a bit more focus than the election year of 2016. This time around, most will agree, “the sky is not falling” and we will follow through with our daily lives as rourtine. The waters are calm.

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. This will be updated monthly. From this, we can see, one 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 dearth 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 new resident numbers continue to beat national averages. Denver continues to grow!

So, what’s a buyer to do? We have a very successful system for buyers, and we have unmatched results with our listings too. Let Dee and I help you along the way. Everyone’s journey is different.

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, it should be exciting!

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 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 303-887-3917

The Cryer Team
The Cryer Team
Tom and Dee Cryer
303-638-3202 Tom
303-887-3917 Dee
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Kentwood Real Estate
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Denver, CO 80237
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