There comes a time in any market when buyers and sellers drift apart. Buyers always want last year’s prices. Sellers want next years prices. Our Denver market will drift closer and closer to this hypothesis. I use the term drift, because it will not be a flash overnight, but time will pass, and we will drift into this new “stalemate market”. But, we are not there yet, so let’s take a “look see” at what’s going on with the #DenverMarketWatch today.
Over the last 7 days, this is what has happened in Denver Metro.
|New Listing (691) To Low!|
|Coming Soon (37) Even Lower!!!|
|Back On Market (171)|
|Price Increase (185)|
|Price Decrease (418)|
|Pending (1429) Simply Amazing Demand!!!|
|Closed (1611) “Big Wheel Keeps on Turnin'”|
As you can see above, strong weekly numbers continue to “amaze” in this market. With no inventory coming on the market, for me, this would be the perfect time to go Active in this market.
Let’s see how this looks year to date:
As you can see above, closed properties in blue, and active listings in green, demand is out stripping supply, and it is indicative of a market going into 22Q1 as an exact replica of 21Q1, and we all know what happened last spring. Crazy supply and demand ratios, and it will happen again in 2022.
Dee & Tom Cryer, SCRP
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237