Hello Everyone “05/19/2020”!
With summer right around the corner, this market looks pretty HOT!
This graphic was from March 25, 2020.
| New Listing (1299) |
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| Coming Soon (0) |
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| Back On Market (422) |
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| Price Increase (348) |
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| Price Decrease (649) |
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| Pending (1140) |
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| Withdrawn (325) |
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| Leased (68) |
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| Closed (1157) |
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| Expired (196) |
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This graphic was from April 14, 2020
| New Listing (906) |
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| Coming Soon (77) |
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| Back On Market (231) |
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| Price Increase (103) |
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| Price Decrease (506) |
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| Pending (909) |
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| Withdrawn (376) |
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| Leased (79) |
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| Closed (1106) |
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| Expired (285) |
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This graphic was from April 21, 2020.
| New Listing (727) |
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| Coming Soon (125) |
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| Back On Market (270) |
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| Price Increase (111) |
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| Price Decrease (477) |
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| Pending (795) |
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| Withdrawn (209) |
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| Leased (75) |
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| Closed (1080) |
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| Expired (197) |
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This graphic was from May 12, 2020
| New Listing (1450) |
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| Coming Soon (152) |
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| Back On Market (331) |
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| Price Increase (198) |
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| Price Decrease (960) |
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| Pending (1653) |
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| Withdrawn (165) |
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| Leased (94) |
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| Closed (846) |
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| Expired (192) |
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This graphic is from this morning, May 19th, 2020.
| New Listing (1444) |
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| Coming Soon (166) |
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| Back On Market (346) |
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| Price Increase (180) |
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| Price Decrease (1172) |
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| Pending (1913) |
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| Withdrawn (191) |
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| Leased (87) |
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| Closed (813) |
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| Expired (189) |
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 Do not believe for one minute Denver Real Estate is dead. Wow, can you believe it? 1,913 Pending listings in the last 7 days. This number is so important to the market moving forward. When we have more contract per showing, it tells us this is still a sellers’ market. With this being said, certain price ranges, certain locations and the higher the price range and more distant the listing, one could question this statement. We are anecdotally seeing homes over $1M in more distant locations receiving “lowball” offers. Close in neighborhoods of all price ranges are still enjoying rapid market velocity. What does all this mean?
Denver went into this event with a “very strong residential market”. As we re-open, my prediction is simple. We will see this market bloom back into the demand and supply ratios similar to what we enjoyed during the first few months of this year. “No harm, no foul.”
Although there are many more steps and in large part, those steps are cumbersome, over bearing and intrusive to buyers, sellers, agents, inspectors, appraisers, lenders and title companies, we continue to weave our way through this jungle. This week, we saw some easing on our restrictions again, and soon it should get much easier for us to do our jobs! We we will continue to be there every step of the way for our clients.
As many of you know, I have been following this site religiously since all this started. There is some good news buried here. All of the Logarithmic Graph presentations continue “the flattening” for which we’ve all been waiting. I can see the light at the end of the tunnel, and I hope you can too!
I will continue to repeat myself, nothing I described above was easy, moving forward will not be any easier. We will all be adjusting to a “new normal”. Virtual Tours, Virtual Open Houses, and Matterport 3D Tours will become primary access techniques for buyers into a seller’s listing. The winners will be able to describe and invest in the “New Normal” before it arrives. Are you thinking ahead?
A successful move, relocation, down pricing, down sizing, first time buy or moving up takes planning. The proper order and proper plan for buying or selling a home requires attention to detail. In a market like this, it is important to place yourself or your property in a position of power. Give us a call, come in (After the Virus), spend one hour with us (On the phone or even Facetime). 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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MyTownCryer 