Good Morning Everyone!
What an age we live in! Billionaires in space, Cowboy Hats in space, Octogenarians in space, soon anyone can go to space. Did you ever want to be astronaut?
Please forgive me for missing last week’s post, but two new grandsons inside 2 weeks was just too much to keep up with. But we are back, but not much has changed. Rates are still unbelievable, new inventory is still in short supply. Pending sales are still strong, and we did have another strong week of contracts with both Pendings and Closings outpacing New Listings over the last 7 days.
|New Listing (1372) Compared to weeks in June and earlier this month, this is a very weak number!|
|Coming Soon (231)|
|Back On Market (238)|
|Price Increase (253)|
|Price Decrease (730)|
|Pending (1894) Nothing eye opening about this number, but still very strong!|
|Closed (1649) This is an Average weekly number reminiscent of the season. Maybe the ‘Dog Days’ of summer are upon us?|
Did you ever want some historical perspective? This is the Active Listing count over the last 10 years. As you can see, over the course of the last few months, we have seen some increase in the number of active listings, but we are so far removed from the “foreclosure and short sale market” of 10 years ago. It is very close to 1/10th the number of listings we worked through 10 years ago. Unequivocally, no bubble here!
With the help we are getting from rates, it is the perfect time to be an active buyer. Locking in a long term rate under 3% might be a great goal to seek in this market, and now is the time to do it!
What have we learned? Well, soon, anyone will be able to go to space. Right after you lock down that house, start saving for your space trip. I bet Disney will soon have a ride called “Space Cowboy” by next season! Beyond space, however, we are learning, “Wabi-Sabi”. In other words when referencing this market: Nothing is Finished, Nothing Lasts and Nothing is Perfect.
And, that’s my point, with the market always changing whether buying or selling, everyone needs a Coach to help interpret exactly what is happening. Remember, these statistics are spread over 11 counties included with Denver. Arapahoe County might have extremely different ratios surrounding supply and demand than Park County. Residential Real Estate is Local. Every enclave, community, subdivision and block can have characteristics transcending overall market conditions. Let us be your Trusted Advisor through this transaction process. Let’s Talk – 303-773-3399
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