02/15/2020 #FiguresDon’tLie #LiarsFigure #TestimonialTuesday

In this business, a Testimonial is like premium gas at the pump. It gives the old 4-Wheeler a lift, a jolt and smile! So, here goes, #TestimonialTuesday…

This is the fifth deal that I’ve done with TOM and Dee. They helped me purchase my dream home and they also helped me get $50,000 over ask for my current condo. They have far exceeded all expectations and I don’t know of a better duo. From my first deal years ago where I had no idea what I was doing to being a well educated consumer at this point, I owe it all to the both of them. They are so knowledgeable, so professional, and get the deal done. They are my realtors for life!”

What about Statistics and Figures? Let’s start with some Denver History. In 1976, fresh out of the University of Denver, I was charged with developing my knowledge of Denver’s Residential History. Being a Residential Archaeologist was not easy. Nobody even knew what it was, but I set off on my mission to understand the nuances of Denver’s neighborhoods and sub-markets. Long story short, I learned there is no such thing as an Average Market, but there is an average. I learned a few other things along the way to be sure, but this market has taught us something crucial about “Residential Archaeology”. “But, it’s different this time”…, holds true. We are into this for years now. No Denver Market has ever accomplished what this one has. So, let’s look at the numbers for Single Family Residential Listings/Sales in the 11 Counties in and around Denver.

I guess what this little exercise is going to show us is how Appreciation operates within a market. This first graph will show you the top end of the market with those transactions over $2,000,000.

Notice in this Chart above, we’ve exploded from 120 sales in 2012 over $2M to more than 1,200 sales in 2021 over $2M. A TEN Fold Increase in the Number of Transactions OVER $2M…

Now, let’s look what’s happened under $400K in the Denver Metro Market since 2012 in the chart below.

The Number of Single Family Sales Has Decreased Under $400K. We’ve dropped from 40,000 Sales in 2012 to under 20,000 sales in 2021. This has pushed the entry level buyer out of the market with the lack of inventory.

So real briefly here, with Appreciation, the Expansion of the Denver Metro Area and the Growth of superior employment opportunities, Denver has become more Affluent. On the same hand, we now have fewer residential opportunities on the lower end of the price scale due to Appreciation. So, on one end, we have more money and on the other end, we’ve wiped away entry level opportunities and created the Famed Housing Shortage. We all know it is more complicated than this, but there is no denying money can’t buy one happiness, but it sure helps when one is trying to buy a house in Denver.

IN CLOSING, I don’t believe this figures to be lying, but it always possible to take another perspective when it comes to figures. Give it a shot and let me know what you think.

Remember, Buying, Selling, Investing in Denver Residential Real Estate requires an expert. With Decades of Battle Tested Experience by your side, The Cryer Team is what you need, want and must have. Dee and Tom are here for you every step of the way…tc

About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business! TheCryerTeam@Kentwood.com
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