I’ve never written about this before. I do not know why. It is an essential concept. We’ve observed Buyers and Sellers wrestle through this process many times. Let’s talk about it today.

When a buyer arrives in Denver, there are preconceived notions already riding heavily on their shoulders. They have every memory of “home” that they have ever experienced. I liked this, I hated that. And, so it goes. Until that buyer can work through the Catharsis of the process, it is almost impossible for them to accept a new home. Every market is different. A buyer has to learn, that giving up is receiving something new.

On the other hand, the Seller comes into the process with their own preconceived notions. The seller has read about how great/bad/etc. the market is. Their coworkers have told them to do this, do that, and not listen to him or her. In the long run, the market does not lie. The market is smart, educated, and visible. Until the seller can release and accept the catharsis of the process, it is tough for the process to move forward. the long story short for both the Buyer and Seller is “no pain, no gain”.

Now, let’s take a look at the Denver Residential Market over the last 7 days.

Denver Market Watch

New Listing
924 We still have no discernable observation of Sellers running into this market.
Coming Soon
232 This number is actually down from last week’s number in the 350 range.
Back On Market
156
Price Increase
64
Price Decrease
691 This is a good sign, this number is off by 50% from last week.
Pending
937 Not a great week here, but still an OK week.
Withdrawn
62
Leased
0
Closed
612 This is well off the mark of the last few weeks.
Expired 62

There has been a dramatic change in our MLS reporting portal. I needed to recreate my standard weekly search. Hopefully, my new search parameters will match well with what we’ve been doing here for years. We are still including the 11 counties within and surrounding Denver Metro. As always, we will keep you posted…

Below is the same chart reflecting a 10-year pattern of Active Listing activity. We should notice no changed here, but again, we will keep you posted.

Bouncing between 4,500 and 4,850 active listings over the last couple of months there is no sign of oversupply on the horizon. This market makes no sense, but we will keep an eye on it for you. Check back with us next week.

I follow Wall Street pretty closely, and I follow Denver Real Estate even closer. I also follow the world of politics. I’m predicting it here and now. This year’s election will be like none other. It will set a record for money spent. Things will be done and said that are so hurtful, it will be like the post-Civil War years. “Keep your tray table in its upright position”. This is going to be a rough flight!

Every Day, Week, Month, and Year, Dee and I work diligently to keep in contact with past customers and clients. If we’ve lost contact with you, please help us out. Send us your new number, new email address, or even your new home address. We won’t hold a grudge. We’ll be here for you every step of the way…

TheCryerTeam@Kentwood.com