Yes, it is that time of year again. As Arctic weather is sweeping across the southern states, we will be observing “Fat Tuesday” in the time of Covid. This cold wave, however, in no way is impacting our still “RED” hot Denver Residential Housing Market.
Please follow along with me. Here is this week’s MLS Data as of this morning over the last 7 days.
|New Listing (652) This is even lower than last week’s number!|
|Coming Soon (163) This is practically unchanged from last week.|
|Back On Market (159)|
|Price Increase (341) Listings going pending above List Price?|
|Price Decrease (237)|
|Pending (1455) This is a huge mid-selling season number! “Hot”|
|Closed (1079) Once again, a steady seasonal number here indicating more strength.|
We would be seeing more listings go to Pending Status and Closed Status if we had more listings. Inventory remains extremely low. Services allowing buyers the write a “Cash” contract are coming out of the woodwork to service this demand. “Be fearful when others are greedy. Be greedy when others are fearful.” It makes me wonder if Warren Buffett had something here.
This is the kind of market where buyers and sellers can make BIG mistakes. I know Zillow, Open Door and the rest make it look easy for you as a seller, but please be cautious. And, I know when the “Bidding War” starts, it is easy for a buyer to get caught up in the emotional merry-go-round, but please be cautious.
More than anything, we are experienced “Trusted Advisors”, and we will be there for you every step of the way. You do have a choice…tc