Good Morning America!

We just picked up an American Made Flag for our front porch. I must say, it looks good! The same day, we received our Property Assessment from the County. I sure hope the mil levy gets adjusted, otherwise our tax bill is going to hurt! This is reality…

So, the Assessor evaluates and establishes the Assessment, the Treasurer will establish the mill levy and ultimate tax bill. The greatness of America is the result of responsible citizens paying their taxes at the federal, state and local levels, and by the way, don’t forget sales tax…

OK, let’s get after it. Over the last seven days, this is what Denver’s market looked like. It was a strong week for New Listing and Pending Sales.

New Listing (1341) A solid spring number. Buyers may find something new!
Coming Soon (236) Also, a solid number to anticipate.
Back On Market (242)
Price Increase (192)
Price Decrease (1046) This is just CRAZY! It appears that 80% of new listing ultimately receive a price reduction at least once. This is an indication of changing market conditions.
Pending (1399) Once again, this is a strong number, but not Earth shattering in any way.
Withdrawn (143)
Leased (77)
Closed (1107) This is an average week, nothing to brag about here.
Expired (164)

Now let’s look at the average price in the 11 counties making up Denver Metro.

Over the last 10 years, we’ve seen our average price more than double. Much of this is the result of highest prices in our market exploding. Now, we are seeing the highest price ranges taking a breather, and this has lowered our average sales price so far this year. More to come on this.

Next week, I will show you where this Top End pricing and inventory is going. In the meantime, be safe out there…tc