Good Morning Everyone “02/25/2020”

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

Pendings up over New Listings by 40% this week! 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 persponally 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”. We have two or three “coming soons” that will ultimately “fly off the shelf” too.

The numbers still tell us, the Under Contracts and Solds this week were very strong, but the Active Listings are still not keeping pace, and some could argue seasonally low. Let’s think about this for just one minute. In the Greater Denver Metro Area, there are 1.5M households. We have about 5,000 active listings of which about 3,500 are detached single family homes. If you are considering putting your own home on the market, now is the time!

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, the market is hot, and we can all ask, “Can rates go any lower?”

Don’t get me wrong, there are a couple or more “Black Swans” in the water. This Coronavirus has become a much bigger talking point in spite of a deadly flue season all around us. When the price of oil craters like it did yesterday, it is going to ruffle a lot of independent feathers in Colorado. Finally, we’ve had some crazy weather in the metro area over the last few weeks. It looks like this is keeping some potential buyers away from the market. When this buyers do hit the streets, there will be some wild negotiations happening. Stay here for an update on this punch on potential buyers once again.

As you can see from the graph above, we finished the year with slightly more than 5,000 active 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.

Long story short, we have an EPIC ride in front of us for 2020. Fasten Your Seatbelts, Raise Your Tray Tables and get ready for take-off!

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… TheCryerTeam@Kentwood.com 303-887-3917