Good Tuesday Afternoon,
After about two weeks of rain, let me tell you, Denver is seldom this green. It is simply beautiful. On top of that, the Crabapple Trees were out in royal glory this season!!!
So, being as late as I am today, let’s get right to it. Compared to last week, this market continues to just get hotter and hotter.
|New Listing (896) This number is down from last Tuesday. Not good!|
|Coming Soon (325) On the other hand, this number is way up. It will be a good weekend to buy a house in Denver…|
|Back On Market (188)|
|Price Increase (266)|
|Price Decrease (296)|
|Pending (2074) This is a huge number. Many listings are not making it to the MLS. Some “hanky panky” going on here.|
|Closed (1664) Another strong seasonal week for closings.|
Anecdotally, Dee and I have observed some interesting market gymnastics in the last week. We put an offer in for one of our buyers on a $550K listings at $600K. Reportedly, it went under contract at $650K. The demand is still ferocious. 9 Months ago, it probably would not have brought $550K. I still believe sellers in this market are putting unreasonable constraints on buyers. 15 Minute showing windows and 24 hour submission deadlines can only hurt the market long term. That’s my prediction for today.
Don’t hesitate to call. If you are in Denver, enjoy this rain!…tc