Two things are true in this time of “adventure”, and I believe everyone would agree, this is a time of adventure. First, across all generations, buyers are in the market exploring Non-Fungible Tokens. Second, across all generations, buyers are in the market for Single Family Residences. Right now, our “buyer inventory” is fairly distributed between all demographics and household sizes. We are seeing buyers continue to lose to “Cash” offers. If you can make it look like “Cash” you’re in the game, if not, you better be able to GO HIGH with an “Appraisal Gap”.
Let’s look at this week’s MLS numbers...
|New Listing (966) My goodness, growing every week! #KeepFingersCrossed|
|Coming Soon (207)|
|Back On Market (157)|
|Price Increase (307)|
|Price Decrease (227)|
|Pending (1787) An appropriate mid-season number, but it would be greater if we had more inventory for the voracious buyers in this market.|
|Closed (1350) A nice number, but would be higher with more inventory. Buyers are still sitting on the sidelines.|
Here’s my point, if you don’t own a home, and you are buying #Bitcoin, is your portfolio in balance. Shouldn’t shelter come first? If you own Bitcoin, you’ve seen it’s dramatic run up; even today, with the prospects of INFLATION upon us, Bitcoin is up for more! I think $64,000 +/-. If you were in at $1,500, you might want to consider some shelter. “Sleeping in your car is so 2020.” (Believe it or not, Google returned 316,000,000 results on the subject!)
Anyway, as you can see, the new price paradigm in Denver’s Residential Market is bring sellers to the market. For the first time in recent memory, we have had consecutive weeks of strength from the number of New Active Listings on the market. I’ve even seen examples of something greater than 15 minute showing windows. I’m predicting a “normal” market by this time next year, 2022. Even the strongest market has to take pause and regroup!
In the end, however, whether you’re buying #NFTs or #SFRs, you deserve the best advice one can find. We’ll be here for you every step of the way, and we would be honored to be your trusted advisor. Don’t be afraid to ask about an Appraisal Gap…tc