04/18/2023 #DenverRealEstate #MarketWatch #Rates #MultipleOffers

Good Morning Everyone,

Let’s get right into it. Over the last seven days, our Denver MLS System has enjoyed an active market. We’ll take a look at this right now…

New Listing (1260) This is a strong number for supply. Buyers should be encouraged!
Coming Soon (260) Additionally, a strong number here too…
Back On Market (224)
Price Increase (159)
Price Decrease (759) Pricing after last year’s comps is troubling.
Pending (1398) A very strong number after a long Easter Weekend.
Withdrawn (136)
Leased (82)
Closed (1106) A good number, but whenever this number is less than New Listings, Supply will grow.
Expired (233) I follow Expired Listings for a couple of zip codes, and Sellers are giving up, keeping supply down.

So, the long story short for the last 7 days, more of the same, but we can see a spring twist to this story where we should start expecting more fresh inventory each week for the next 60 days. Let’s see what happens.

Now, let’s take a look at the trend of inventory over the last 10 years to understand what’s happening now.

The number of Active Listings is up from last week with 4,023 which is up from 3,943. These numbers are in line with the last 10 years with generally lower rates than today. I would like to point out right here, #RATES go up faster than they come down. Don’t expect an interest rate drop in a hurry!

In spite of this, every transaction Dee and I have been apart of so far in 2023 has had a #MULTIPLEOFFER component to it. Good Inventory still has more buyers chasing the sellers offering. These offers are generally from buyers who can afford this new rate paradigm with perceived job security.

#DENVERMARKETWATCH is what WE do. We are watching out, so you don’t have too. It is a great time to be a seller, and it is a great time to be a buyer. Give us a call and let us show you how….tc

Let me leave you today with some #EASTERBUNNYMAGIC…TC

About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business! TheCryerTeam@Kentwood.com
This entry was posted in Denver Residential Real Estate and tagged . Bookmark the permalink.

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