Politics, Business, Media, Society and these days there are the influencers to drive it all home even in the subset of the real estate industry. We are not immune from these Headlines, Talking Points or Sentiments. Am I correct?

“Fall in love with the house, not the rate.” “Reverse mortgages are safe, insured by the Federal Government and never cost you a thing as long as you live.” “Over time, home values have always increased.” I could continue, but this blog is about the Denver Residential Market. This week, we are starting to see a seasonal swing. Let’s take a look.

New Listing
1256 Down from last week, but still higher than average!
Coming Soon
138
Back On Market
257 This number is higher than average, but it is not cause for alarm.
Price Increase
105
Price Decrease
1833 Now this is really much higher than weeks past. Sellers looking to get things done before the holidays!
Pending
1053 A solid week here, but this is not a display of strength in any manner.
Withdrawn
217
Leased
81
Closed
958 Once again, this is not a show of strength here. Down from last week.
Expired
211 This is an important number to follow as the year closes out. Will many more sellers give up?

Now, let’s take a look at the total number of Active SFRs in Denver Metro.

To watch the numbers from this chart, we are up about 1,000 active listing since May of this year. We are up a solid 3,000 active listings since January of this year. Now, we could clearly argue January was too low, but I can also argue at 6,311 active listings today, we are moving toward a more normal market. If rates were not interfering with the buyers’ economics, we would be back to that January low before years end. But, we are not. The broader economics along the Front Range from Ft. Collins to Pueblo are quite strong with job growth and unfilled openings. As a result, I will not scream fire in the movie theater. “In fact, the future’s so bright, we will all need sunglasses!”

On the other hand, I would advise sellers to spend their time and energy on Market Prep, scour the market for the trend in their respective neighborhoods, and PRICE APPROPRIATELY. Statistics shows a Listing with one or more price reductions often sells for less than an appropriately priced home right out of the shoot. This is where an experienced, time tested Listing Broker pays more than dividends in this market.

So, as you look around for your listing broker, please think through the entire process.

In the meantime, #Headlines, #TalkingPoints and #Sentiment seldom tell the whole story. We will walk you through the entire process every step of the way. Your safety in this market place is out obligation! WE would be honored to be your trusted real estate advisor. We would be honored.

TheCryerTeam@Kentwood.com

303-887-3917