Denver Market Watch with 2020 Vision 09/22/2020

I spent a week or so away, and look, nothing changed. WE are still placing new listings under contract or pending faster than new listings can catch up. This trend has consistently tracked through 2020. This means low inventory, few buyer choices and a seller’s market.

New Listing (1103) Too low to help buyers in this market!
Coming Soon (182)
Back On Market (273) I want to comment here. There are buyers so eager to get something Pending, they make rediculous offers only to have buyer’s remorse the next day. Unfortunately, their representatives have not properly vetted them, and 272 bad decisions took place this week…
Price Increase (267)
Price Decrease (855)
Pending (1796) Sellers are liking this number!
Withdrawn (179)
Leased (79)
Closed (1609) This is a strong number; not record breaking, but still very strong!
Expired (249)

AS you can see, over the last 7 days, the MLS confirms what we are seeing on the street. Low, low, no inventory is plaguing this market, and buyers are the ones suffering from this. This leads me to our special request. If you are considering the sale of your home, please ring us up. We need inventory desperately. We have buyers on the sidelines, waiting. We have sellers looking for a place to move up to. They need choices. It is the perfect time to be a seller in the Denver market. Please don’t let this opportunity pass you by.

Let’s talk antidotally this week. We are observing the awakening of corporate and agency relocation again. We are logging calls from “Lifestyle” movers. We are seeing younger generations reaching out to buy their first home; triggered by interest rates and family support. This market is broad based in all price ranges, well supported by its diversity of age, economic strength and its move up market is well funded by years of positive appreciation. Denver is that “enigma, surrounded by a conundrum wrapped in a riddle”. Long story short, there is no bubble in sight.

Supply vs. Demand
Supply vs. Demand

The successes we have logged this year all share a cooperative partner seeking a well executed plan, a defined timeline and the desire for change. We can assist you with the same kind of professional service as your trusted advisor. Let’s discuss your plan of action today!

About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business!
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