The Land of Enchantment has some amazing scenery. Some is man made! These dishes are gigantic…

These antenna are about communication. The Denver Residential Market is into its first month of the new year. We don’t have to listen to “deep space” to observe the trend in Denver.

Over the last 7 days, we are experiencing much of what I predicted earlier in the month. We will see supply start to grow, we will see Pending Listings start to grow, and we will see closings pick up with this trend. The market is embracing these higher rates. Sellers are accepting the cost of “buy downs” and buyers are seeking ownership. 

Market Watch 2024

New Listings
855 Like I had predicted at year’s end, Listings are spiking!
Coming Soon
119 Nothing to see here.
Back On Market
206 Funny how this happens…
Price Increase
143
Price Decrease
653 It is very hard to appropriately price in this market!
Pending
1098 Wow, this is a big jump. Let’s keep an eye on Under Contracts.
Withdrawn
116
Leased
67
Closed
678 Nothing to see here, but as we move into 2024, this will be the most telling.
Expired 177

But, Tom, how does the broader market of Active Listings look? With only 4,527 Active Listings in the 11 County Market of Denver, we are starting out 2024 almost with almost 500 fewer listings than 2023. Where will our Inventory come from this year?

LSS, no two years are alike. Markets are like snowflakes. There are some similarities we can draw from, however. We are starting the year off with low supply. We are still working through higher rates. Employment in Denver is still strong. I don’t know if we will need sunglasses, but our future is still bright.

TheCryerTeam@Kentwood.com

Please don’t hesitate to reach out and contact us. We maintain a living list of some of the best vendors in this market place. We are here for you every step of the way…tc