Good Morning Everyone!

Off year elections are always a little hokey. Like HH in Colorado, how will voters manage the ability of Legislators ability to tax? Spenders and changers want HH, status quo people want to keep Tabor and limit spending. I voted no on HH. I was just not convinced it is good legislation. When ever legislation has so many parts, the ultimate unintended consequences are worse than what’s in place.

Until yesterday, we were having a very colorful fall season. Then wind happened. We have leaves everywhere now!

Rates have been, are and will be the headwind affecting every transaction with a mortgage. I believe we will get no relief until we’ll into 2024. The Fed waited way to long to raise rates and now it’s been over done. Their aim for a 2% Inflation Rate will take time. Monetary changes today take months to grab hold. Long story short, patience wills out on this one. Keep in mind, the first mortgage Dee and I took together was 17.5%. In just a few years, we refinanced to 9.5%. The average mortgage rate over the last 50 years has been about 7.5%. Current rates are not far off this. The sky is not falling!

With all this said, what happened in our Denver Market this week?

Market Watch

New Listing
1047 This is an average week here. Nothing surprising.
Coming Soon
110
Back On Market
254
Price Increase
131
Price Decrease
1432 This is continuing to be an issue. Ask us about this!!!
Pending
938 Nothing special here. Some might argue this is a little low.
Withdrawn
234 Giving Up?
Leased
68
Closed
905 Not a great week here for sellers. Seasonal trends are in full affect.
Expired
237 Giving Up?

Total Listing Count is always interesting. This week’s total is 5,756 in the Denver Metro 11 County Market. The Chart looks like this.

As you can see we appear to be balancing with Active Listings as we move toward year’s end.

With total residential inventory still less than 6,000 at 5,756, we are a long way from another real estate recession, but we need to be vigilant. We need to, first and foremost, price appropriately. Particularly, in the higher price ranges of $1.5M and up. Buyers in this price range in large part, made their moves when rates were under 5%. Under $1M, we are still seeing a very busy, shake it off, type of mindset.

What we need you to remember is simple, we are here for you to interpret the local complexities of this market.

The Cryer Team’s Mission: Provide Real Estate Services so complete, thorough and professional, The Team becomes not only YOUR real estate resource, but by referral the resource for your family, friends and associates. Inherent in this mission statement is the vision of impeccable service and unquestionable integrity.

Dee and Tom provide a multi-disciplined background of experience, service and results in the Denver residential market.

The Team is dedicated to providing SELLERS an unparalleled marketing strategy, superior Internet presence, exceptional customer service and consistent communication backed by more than 30 years of successful residential experience.

The Team is also dedicated to providing BUYERS an organized, strategic and aggressively negotiated platform from which to acquire the home of their needs and dreams. They have worked diligently to provide a list of concierge services making the buying process transparent and supportive.

Tom and Dee have been awarded and acknowledged by their clients, peers and associates many times throughout their careers. That being said, they are most proud of what their past clients have written about them in the form of testimonials.

We would urge you to take an hour, come visit our office, discuss your needs and wants with us and learn why our system may work best for you.