Denver Market Watch with 2020 Vision 10/20/2020

A little history lesson by the Denver Public Library

Few are old enough to remember this event. Just a few miles south of Franktown lies a State Park; Castlewood Canyon State Park. Adjacent to the park was a very large reservoir. The dam reserving this mass of water failed during 1933. The flood northward along Cherry Creek was devastating.

One man’s opinion: “The Castlewood Dam will never, in the life of any person now living, or in generations to come break to any extent that will do any great damage either to itself or others from the volume of water impounded, and never in all time to the city of Denver.” – A.M. Welles, Chief Engineer

The rest of the story you ask? There was a flood, for the day, of epic proportions, but today, “Cherry Creek is a popular greenway, taking cyclists and runners from downtown Denver to Cherry Creek Dam, a large Army Corps of Engineers structure that provides flood control. The broken remains of Castlewood Canyon Dam are still in place, located amongst hiking trails in Castlewood Canyon State Park. The crumbling remnants of the dam provide a valuable educational opportunity for visitors, reminding us of both the benefits and risks we must navigate when living with our Nation’s dams.”

But what about Denver’s Residential Market this week?

New Listing (1373) Once again a not enough; low inventory!
Coming Soon (150)
Back On Market (240)
Price Increase (476)
Price Decrease (827)
Pending (1692) A very strong week, but not nearly a record.
Withdrawn (258)
Leased (72)
Closed (1825) A great week! Near record levels. Strong numbers this week!
Expired (200)

Once again, another week in the books and Denver just keeps rattling along with locomotive consistency. Inventory at “record lows”. Interest rates at “record lows”. Demand consistently high. Demographics in Denver’s favor. I believe this locomotive will run right into 2021. Don’t let the election get in your way. Both Republicans and Democrats own homes and enjoy them. Homeownership is important!

Guess what, Dee and I are here for you. We pride ourselves in being your “trusted advisor”. Click here to see what we mean.

In the meantime, please don’t let this “perfect storm” of market parameters pass you by. For buyers, these rates will be a treasure 5 years from now. For sellers, the ability to sell into a “sellers’ market”, is always a good thing. Tom 303-638-3202 or Dee 303-887-3917 Call today!

About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business!
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