Denver Market Watch with 2020 Vision 07/14/2020

As we move into the second half of 2020, how clear is our vision?

Well, this looks pretty clear to me. Our weekly MLS report is demonstrably clear. We have a sellers’ market! With new contracts exceeding new listings by 50% is pretty clear. Am I employing the word “clear” too many times? As a seller, if I had any thoughts of moving in the next 12 months, I would be putting my property on the market ASAP. Low, low rates, sky high demand and a seemingly endless line of buyers.

New Listing (1373) This number is not keeping up; we need more listings!
Coming Soon (220)
Back On Market (315)
Price Increase (229)
Price Decrease (1186)
Pending (2093) We clearly have a market with built-in demand. Great number!
Withdrawn (196)
Leased (122)
Closed (1797) A very strong number for a July week, wow!
Expired (265)

This week I was told about a Listing near Washington Park around $500,000 with 128 showings and 28 written offers. I was also told, the list price was intentionally low to force a sale over the first weekend on the market.

Every seller, and every buyer has their own motivating factors. You clearly need someone looking out for you in a market like this!

Dee and I work tirelessly for our clients ensuring they have professional representation. We will provide the same effort with you. Give us a call, let’s discuss your goals, your wants, your needs and your dreams. There is a perfect fit out there for you, and we will make sure you find it!

If you have been following me for any length of time, you know I believe strongly in the concept of Home Ownership. Communities with a high ratio of ownership have less crime, have better schools, have greater long term financial rewards and it is clearly a building block of American Culture.

Home Ownership should be a possibility for every American, and if you ask me, it could be if it weren’t for generations of ineffective leadership. Ultimately, HUD programs are not suited to the needs of today’s buyers, and politics always plays a roll in the bad decision making.

Still, the National Association of Realtors, Colorado Association of Realtors and the Denver Metro Association of Realtors agree with me; Homeownership Does Matter!

As always, you can reach Dee and myself at TheCryerTeam@Kentwood.com or 303-773-3399. Thank you for following along, this happens every Tuesday.

About Tom & Dee Cryer

Your Friends in the Homeownership Business!
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