Like my father told me, “Be brief and be seated”. Well, that’s what I’m going to do today. Follow along…
This chart represents the last 7 days in Denver’s MLS System for the 11 Counties making up the Denver Metropolitan Area.
|New Listing (1680) Nice strong seasonal number. No indication of a “Bust” here.|
|Coming Soon (296) Seems this number keeps creeping up every week.|
|Back On Market (328) This along with coming soon is a huge change for buyers seeking inventory.|
|Price Increase (154)|
|Price Decrease (1444)|
|Pending (1456) This is a little lower than expected here.|
|Closed (1371) This is not up to seasonal standards here. Are rates finally hitting back?|
The Summer Malaise to which I referenced last week is in full swing. What do you mean Tom? Well, we increased in inventory since the year started from 1,687 active listings to 3,877. But, last week, 1,444 of those active listings had a price decrease, and one of them was ours…
Here’s the whole picture.
As you can see from the chart above, we are following along years past with a seasonal swing in our residential inventory. Still it is nothing like our more “normal” markets, certainly above what we had during the “shortage” earlier this year.
I promised to be brief. If you have any questions at all, you know how to reach us…tc