Denver Market Watch with 2020 Vision 07/28/2020

As we close out July, we would normally be discussing “back to school”, “labor day last minute get-a-ways” and the schedule at Red Rocks coming to an end; not this year, however! This year, it is all about the market in Denver. This weeks numbers in large part mirror last weeks numbers. “Not enough new listings, phenomenal Pending numbers and very, very strong closing numbers.” Observe…

New Listing (1252) This number is only 2/3rds of what it needs to be!
Coming Soon (154)
Back On Market (296)
Price Increase (337)
Price Decrease (1048)
Pending (1987) This number is very strong and reflecting strength!
Withdrawn (190)
Leased (109)
Closed (1776)
This is a very strong number, and week after week, it sheds light on the strength in the Denver Market!
Expired (194)

So, what’s the “short story”? I would say, “When a market does not add an adequate amount of supply, buyers become frantic”. “We are not far off the ‘toilet paper’ market of a few of months ago.” The #FOMO for properties under $500K is pandemic. But, we have observed tremendous activity in the $1M+ market too. Appropriately priced, the 7 digit market continues to be quite healthy.

If you are struggling with what’s happening on Wall Street or Main Street, Dee and I are here for you. Tom loves to talk about individual stocks. Owning a part of great American Companies gives him a lot of pride, but owning a piece of America is a feeling you can’t get from anything else. Being able to walk in your front door and say, “I’m home”, is simply an incredible feeling. The grass needs to be mowed, the gutters need cleaning and the garage is a mess, but you are home! It may be great to own a few shares of #Amazon or #Tesla these days, but in the long run, the feeling of #homeownership is seldom duplicated by anything else.

So, let’s talk about your plans, your goals, your dreams, and let us be your friends in the homeownership business. From our “concierge” list of services, to our attentive natures, and our professional approach to the process leaving no loose ends, you will not be disappointed with your Realtor choice.

In the meantime, get outside and enjoy Colorful Colorado…tc

TheCryerTeam@Kentwood.com Dee and Tom Cryer 303-638-3202

About Tom & Dee Cryer

Your Friends in the Homeownership Business!
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