Economic Catastrophe, Caitlin Clark, New Normal, and April Fools were words and a name we read repeatedly this week.

Will the Baltimore Bridge really be an economic catastrophe?

Will Caitlin Clark raise ticket prices in the WNBA?

Are interest rates at a new normal?

I didn’t get taken by a single April Fools prank yesterday!

I guess the segway here is simple. We really have no control over what’s going to get us next.

So let’s take a look at Denver’s Residential Market this week…

Denver Market Watch

New Listing
988 I know it was Easter, but this number is too low! Where are the sellers? It’s spring…
Coming Soon
397 This is up a good bit, so maybe more next week?
Back On Market
224
Price Increase
110
Price Decrease
919 Crazy how we can’t get this right. As high as I’ve seen it!
Pending
1176 Not a bad week, but this should still be over 1,200…
Withdrawn
131
Leased
73
Closed
1266 A really good week, so Buyers and Sellers are finding their way…
Expired
473 This is a pretty big “give up” number.

Let’s move on to the Total Active Listing Inventory in the Metro Area.

After 4 consecutive weeks of an upward trend in Total Active Listings, we experienced a decline to 4,510. This is 200 total listings less than last week. We seem to be at a market equilibrium. In other words a delicate balance between inventory increasing and transactions increasing and visa versa.

We will have to wait this one out. There is no telling. I was listening to a few interest rate pundits this morning. Everyone contradicts the next. Wait for it. I believe we will have long-term rates close to 6% by the end of the year. I don’t see it happening if you are waiting for a bigger drop. On the equation’s inventory side, its scarcity keeps price levels strong. Don’t be looking for price reductions while you wait for rate declines. It’s not going to happen this year.

Today, I’d like to tell you about how we keep our Sellers informed each week. After I put this post together each Tuesday, I have the knowledge to provide our Sellers with an Anecdotal Feedback Report from our showings over the last week, and I can put together a Statistical Analysis from all the data we’ve collected giving the Seller an idea of how their listing is performing compared to historical data from past listings. These two reports are very telling and can greatly enhance the Seller’s confidence when it comes to an appropriate pricing strategy.

We never stop walking you through the process every step of the way!

And, Dee never stops riding for the brand!