Denver Market Watch with 2020 Vision 12/22/2020

SantaPraying

It may be the first day of #Winter, but still, there is nothing cold about this Denver Residential Market. Week, after week, after week, after week, 2020 has demonstrated very strong buyer interest. The search for a home has really never been more pronounced than right now. Buyers are moving into homeownership from apartments, buyers are moving into single family homes from smaller condos and townhomes. Unfortunately for buyers, sellers are only cautiously listing into this market.

Let’s take a quick look at the last 7 days. Our MLS activity continues to reflect strong buyer demand, but also once again, sellers are not entering the market in numbers sufficient to quell demand. It is tough to predict what may transpire in 2021, but I would bet, we will see more sellers willing to jump into this market. I’m not predicting a balance in 2021, but we will see a a move toward a more “normal” market.

New Listing (533) This is a typical seasonal number. Nobody goes on the market the week before Christmas.
Coming Soon (26)
Back On Market (144)
Price Increase (348)
Price Decrease (276)
Pending (1052) But, people do buy the week before Christmas!!
Withdrawn (158)
Leased (49)
Closed (1497) I’ll be home for Christmas rings true…
Expired (215)
The week of 12/15/2020 MLS Data

Hopefully, Santa has answered your prayers when it comes to homeownership this year. If not, 2021 will have new opportunities. The secret to this market is getting involved. Finding the neighborhood matching your needs and wants often leads to the home providing your “Happy Place”. This does not happen by accident. Focused effort, commitment and time in the market are the only true ways to make this dream come true.

For sellers, there has never been a better time to be actively listed. As a seller, you have more options than you might think. Let’s schedule a time to discuss the ins and outs of this market and make your dream come true too!

TheCryerTeam@Kentwood.com 303-638-3202

About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business!
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