I couldn’t help myself. I find this crime against humanity in the Ukraine extremely disturbing. For God’s sake, this is 2022. Really? But, this blog is about #DenverRealEstate; I digress…
Let’s take a look at this week’s events in the market in and around the Denver Residential Real Estate Market… The numbers below are for Single Family Residential Properties in the 11 Counties surrounding Metro Denver.
|New Listing (755). New Listings falter compared to last week and my expectations for this week. I was hoping this number would be around 1,000.|
|Coming Soon (241). This an OK leading indicator, but still not high enough to swing the market place.|
|Back On Market (119). Still, Buyers and Sellers are keeping these deals together.|
|Price Increase (202)|
|Price Decrease (159)|
|Pending (1480). Wow, this is a mid-season number and demonstrates not war, not rates, not recession worries and not an energy shortage is going to deter the buyer in this market!!!|
|Closed (1146). A solid number for this time of year. Buyers and Sellers once again, working their transaction all the way to the closing table…|
Next up, where are the total number of active listings going?
The number of Active Listings is only marginally higher week over week, and buyers are still battling to become Homeowners.
We put one under contract yesterday. To Win, our buyer had to offer non-refundable Earnest Money, 20%+ over the Advertised List Price, remove most to all conditions, offer in all cash with funds proofed, and finally in this battle for ownership, our buyer presented their offer to the sellers early with their best offer. That being said, not every buyer has this much horse power, but it stood the test of 8 other written offers with three of them within a few dollars of each other. In this instance, coming in with their highest best early on, allowed this buyer to move to the front of the class and sit with the ‘A’ Students.
On the other hand, we lost one this week simply because our buyer was not strong enough to offer the seller this type of condition free contract, but we will work with them and get them to the “Front Row” too…
Well it’s that time to bring this full circle. Some Brokers in this market place are #Bullies, and there are not many #Heroes like #ElonMusk willing to stand up and fight with you #SavetheBuyer. But, Deirdre and I fight every day for power of homeownership, the joy of being rooted in a community and a better life. Having been through at least 3 major housing cycles in this market place, “This too shall pass.”
Advise for this market; Stay Engaged – It’s a full time job to be a buyer in this market. Work everyday to Improve Your Finances; your credit score is your handicap. Stash Cash – Your ability to have funds to sweeten the deal for the seller is KEY!!! Once you Find Your Neighborhood, your house will find you. Know your market and know your competition. Finally, we will be there for you “Every Step of the Way!”
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