I was Mall Walking this week. This has been identified by me as someone who goes to the Mall with no intention of acquiring anything. When it is cold, it is a great way to walk and listen.

I have often wondered if the elevator music played in the mall is intended to make you buy something. Does it put the fever in you?

There is a different type of Bag Lady at the mall. A bag lady at the mall has as many bags as can be carried, all with different store logos, obviously demonstrating this person’s shopping accume.

Google this one, and you will get a difference of opinion. Most are in agreement, the earliest food courts arrived around 1970. The Food Court is, was, and will be one of the few things at the mall actually bringing people together. Older malls tended to have a movie theatre for an anker, but in today’s malls, it’s the food court.

Finally, while at the mall the other day, I was thinking about older houses and some maybe, not even that old. When showing property, buyers will often express their respective opinions on condition and appeal. I’ve long been a defender of patina. I would much rather have a well maintained and clean 1930s Tudor than something painted gray with white trim and white cabinets. That’s just me. Once it’s remodeled, it can never be original again. The patina tells a story. It may be someone else’s story, but it is still a story. When the story is gone, it’s never coming back.

A sunrise near Death Valley in January still offers bright yellow flowers in the foreground. Nature is still making it happen!!

It’s now time to move on to this week’s Market Watch Report for the Denver Metro Area.

Market Watch

New Listing
894 Not a big number here. Sellers are clearly not rushing into market!
Coming Soon
135
Back On Market
195
Price Increase
130
Price Decrease
721
Pending
1097 Now, this is a pretty big number for January. Well done!
Withdrawn
123
Leased
69
Closed
630 Coming off the holiday season, 30 days ago, this one is understandable…
Expired
157

Over the last 7 days, it has not been a remarkable week. Few closings, but a pretty active Under Contract/Pending number. New Listings to the market is not enough to get buyers off the couch or the chairlift…

What about Total Active Listings right now?

Closing out 2023 with just 4,606 and starting the year with January Contracts at about 200 higher than the number of new listings clearly starts to define another year of little to no relief for buyers seeking their dream home. I think we can safely predict Q1 2024 will mirror 2023 with limited choices for buyers and sellers still remaining on the sidelines.

Dee and I continue to be very active in this market. With transactions pending as far north as Erie and as far south as Colorado Springs, we really get a personal sense of the market. Buyer demand is still strong. The realization 6% or more for interest rates is the new normal and renting only benefits the Landlord, buyers with good credit and income are ready to make something work. Home is where the heart is…

Please don’t forget, we can help you in all 50 states and US territories. Additionally, our network has a global reach in countries you can’t imagine. If you need to sell or buy, we have the tools and resources to make the transaction smooth and seamless. Give us a call, and we will discuss the appropriate solution. “Every step of the way”