Good Morning Folks!

Does anyone care if #Twitter is no longer, and the change to #X is the here and now? Here’s my take, #X, #SpaceX, #Xchange, #BoreX, #TeslaX, #SolarX; seems like a great way to consolidate the somewhat messy corporate structure known on the street as #XMusk? Am I wrong?

This morning, I asked ChatAI what’s up with Denver’s Residential Market. This is what I received.

“The Denver residential housing market is currently experiencing high demand and low inventory, leading to rapidly rising prices. Many buyers are facing bidding wars and properties are selling quickly. However, it’s important to note that real estate markets can be unpredictable and subject to various factors such as economic conditions, interest rates, and government regulations. It’s always recommended to consult with a local real estate agent or do thorough research before making any decisions in the housing market.” #ChatAI

Wow!!! I just asked AI to make the previous paragraph a slightly larger font. It will not be long now!

Now, let’s take a look and see what’s really happening this week.

New Listing (1231) We are personally observing buyers are finally getting a choice.
Coming Soon (177) Lower than last week.
Back On Market (255)
Price Increase (114)
Price Decrease (1351) The biggest number on the board.
Pending (1269) A strong week, but in light of all the price reductions, should this be more?
Withdrawn (239)
Leased (79)
Closed (1120) Not a bad week. This market continues to impress in spite of all the external forces that are less than positive!!!
Expired (190)

Overall, not a bad week and very much in line with what we have been observing from weeks and months past. In other terms, this market is surviving in spite of the heat!

Yes, we are bouncing off the 100* mark in my backyard….!

Now, what’s happening to the Metro Denver Inventory? Detached Single Family Listings are looking like this.

With summer upon us, we have an active listing count of SFRs at 5,720 which is about 100 more than last week but more than 700 less than last summer and well below years previous to this. All is well in the Mile High City.

#What’sNext, in my opinion, is more the same. As long as Denver’s Economy remains vibrant and resting place for so many viable home owners, we are in for more of the same.

Everyday, we help clients through the maze of Denver Residential Real Estate. Supply, Demand, Rates, Locations, Schools, Water, Covenants, and much, much more. Going it alone can only end with less than excellent results. Give us a call or send us an email. TheCryerTeam@Kentwood.com www,TheCryerTeam@Kentwood.com

Safe Travels…tc