03/22/2022 #Spring Has Sprung #SpringCleaning #ANewNormal

At this point in the market cycle, we would normally see some break toward the buyer. Sellers are still living the dream, but there may be some hope on the horizon! We have seen a significant shift in the total number of SFRs Active in our 11 Counties surrounding and including Denver increase in numbers.

With this being said, that number is still so far below normal, I’m curious to see how this all unfolds. Will we be living #aNewNormal? Let’s start with the weekly numbers Tuesday to Tuesday.

New Listing (662). This is incredibly low. My hopes for buyers has been dashed again!
Coming Soon (272). Nothing to brag about into the future here!
Back On Market (114)
Price Increase (187)
Price Decrease (201)
Pending (1514). Wow, where are buyers finding these listings? This is a big mid-season number.
Withdrawn (67)
Leased (51)
Closed (1224). Once again, strong weekly numbers here for closings.
Expired (94)
Once again a strong week for sellers, but buyers really had to give up so much for the right to buy!

The two graphs below might lead you to the same conclusion as me. Please, take a look…

For the last 10 years, there has been a general trend of fewer active listings, but as of the end of February, we had only 1,562 Active Listings in the 11 Counties in Metro Denver.

This next graph is the last 12 months of Listing Activity.

Over the last 12 months we’ve seen the number active listings peak in July at 4,478, but then fall to it’s current low level of 1,178 for Single Family Homes.

LSS, we are witnessing limited new inventory coming on the market each week, strong buyer demand sweeping the shelves clean every weekend, and subsequently, available inventory is dragging anchor along the bottom right now. Since March is the historical start of an active listings season, buyers may be in for a rough ride in this market of short supply.

Don’t wait to keep up with home maintenance. It adds up and becomes insurmountable. Keep it clean along the way.

Planning a little spring cleaning this season? Here are some tips to help:
• Declutter and donate first. There’s no point in cleaning items you no longer want or use!
• Start from the top. Begin by dusting the air vents, ceiling fans, and high-up cabinets. Do the floors last.
• Go room by room. Use a checklist to ensure each space gets a deep clean.
• Clean your appliances. Vacuum your refrigerator coils, run a load of bleach through your washer, and degrease that oven.
Don’t forget the outside of your home, too. Clean up the garage, your shed, the yard, and other outdoor spaces. Happy Spring!

Great Weather Coming, Enjoy!

About Tom & Dee Cryer

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