Good Morning Everyone,
I guess you already know what the Cryers will be having for dinner? That’s right, it’s not just #TacoTuesday, it’s #NationalTacoTuesday! Ándale!!!
Enough fun already… Let’s get right into it. This morning we have the same story as last week, and the week for that and that, and that. Below, I’ll be showing you some more bar graphs defining the Denver Metro Residential Market, but for now, follow along with this week’s numbers.
|New Listing (1103) Once again, this is not enough new listings, and to top it off, we are going into the seasonal mode of fewer listings.|
|Coming Soon (170)|
|Back On Market (244)|
|Price Increase (256)|
|Price Decrease (742)|
|Pending (1826) HOWEVER, this market continues to out do itself with its limited supply. Where are buyers finding these listings to buy? More to come on this.|
|Closed (2014) This is simply a HUGE number. This is a peak season number. Over 2,000 closings in a 7 day window is simply crazy high for October!|
“BUT WAIT, there’s more!”
As you can see, we are quickly drifting into the typical seasonal trend of fewer listings than the summer months, but as we noted above, we are still seeing rapid market velocity, limited buyer inventory and multiple offers in almost all price ranges.
Now look at this one below…
So, I ask you… Does this market look like a market approaching a “Bubble”? NO, it does not. It looks like a market primed for a spring marketing season like this year, and the previous 3 years where inventory is scarce and buyers are plentiful. Only time will tell, but if I could make this bet on #Barstool, I would!
So, “#WhoTellsYourStory” makes a difference. Clearly, we are vested in this market. we work with both buyers and sellers. By telling this kind of “unbiased” story week in and week out keeps us honest. WE will be telling the world when the market changes, but right now, we continue to see the market on the sellers’ side and buyers will continue to march into battle. This is why having a seasoned, knowledgeable and focused team of brokers on your side is so important. We are finding those #diamondsintherough for our buyers. AND, we are negotiating the best prices for our sellers. Let’s face it, the Denver Market is not what it used to be. It is more populous, it is geographically larger, it has experienced dramatic changes due to light rail, DIA, 470, housing density changes (Zoning), #EnterpriseZones, Covid and #SavingRates have all served to change this market. Staying current is what we do.
We will be there for you every step of the way!
Dee & Tom Cryer, SCRP
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-887-3917 / 303-638-3202
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