DenverMarketWatch with 2020Vision

Denver’s Weekly Residential Market Watch
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May 2020

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)
Coming Soon (0)
Back On Market (422)
Price Increase (348)
Price Decrease (649)
Pending (1140)
Withdrawn (325)
Leased (68)
Closed (1157)
Expired (196)

This graphic was from April 14, 2020

New Listing (906)
Coming Soon (77)
Back On Market (231)
Price Increase (103)
Price Decrease (506)
Pending (909)
Withdrawn (376)
Leased (79)
Closed (1106)
Expired (285)

This graphic was from April 21, 2020.

New Listing (727)
Coming Soon (125)
Back On Market (270)
Price Increase (111)
Price Decrease (477)
Pending (795)
Withdrawn (209)
Leased (75)
Closed (1080)
Expired (197)

This graphic was from May 12, 2020

New Listing (1450)
Coming Soon (152)
Back On Market (331)
Price Increase (198)
Price Decrease (960)
Pending (1653)
Withdrawn (165)
Leased (94)
Closed (846)
Expired (192)

This graphic is from May 19th, 2020.

New Listing (1444)
Coming Soon (166)
Back On Market (346)
Price Increase (180)
Price Decrease (1172)
Pending (1913)
Withdrawn (191)
Leased (87)
Closed (813)
Expired (189)

This graphic is from May 26, 2020, and it will be the last presentation in this format. New and Better things are coming to Kentwood! We are moving on to an entirely different platform for the remainder of 2020 with even better vision!

New Listing (1332) SELLERS LAGGING BEHIND!!!
Coming Soon (175)
Back On Market (248)
Price Increase (276)
Price Decrease (1054)
Pending (1752) THIS IS ANOTHER GREAT WEEK!!!
Withdrawn (152)
Leased (99)
Closed (766)
Expired (193)


DENVER’S residential real estate market is far from DEAD. Some might say, it is HOT! With 1752 Pending listings in the last 7 days, this would be considered a typical week in any given year during the spring season. Although, this number is so important to the market moving forward, it will routinely have 10% swings during any given week, and coming off a three day weekend like this, it may not reflect a true picture. It could easily be more! When we have more contracts per listing, 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 and price improvements to attract a buyer. 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 is playing out. We 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 the process. At least we’ve been able to stay in business! This week, we saw some more easing on our restrictions, 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 to reveal “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 have described above was easy, moving forward, it 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 of the market?

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 this unique, it is imparative to place yourself or your property in a position of power. Give us a call, Facetime, or come in (After the Virus), 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

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
Kentwood Real Estate
4949 South Niagara Street #400
Denver, CO 80237
720-330-8888
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Copyright © 2020 Kentwood Real Estate. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. You are receiving this email as a current or former client of Kentwood Real Estate or one of its associates.

About Tom & Dee Cryer

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