Good Morning Denver,

Every month, I get a newsletter from the City of Centennial, where I live. This month, the newsletter declares, “We are the best of the best.” We were incorporated from Arapahoe County to Centennial on or about the year 2000. Centennial has no debt. It pays its bills promptly. It has several smaller “town centers” and an award-winning Center Park. Emergency Response has been outsourced. Public Works has been outsourced. Most parks and recreation has been outsourced. I’m here to tell you, Privatization works and saves money. This has been going on for 25 years now. It is successful, and it makes me proud. I’ve served on the Senior Commision, the Election Commission, and hope one day to serve on others. When one is proud of something, it is easy to get involved and hopefully even make it better. All I can say is get involved in your community. Please get involved,

On another note, Dee and I welcomed our 5th grandchild into the family last week. Louie James and Momma all doing very well. WE have been blessed again!

Denver’s Weekly Market Watch

New Listing
1421 Less than last week and the week before; seasonal?
Coming Soon
160
Back On Market
307
Price Increase
121
Price Decrease
2084 This is still too high. Buyers are getting very critical.
Pending
1285 This is a pretty good week. Rates have allowed a few buyers to jump in!
Withdrawn
197
Leased
0
Closed
927 This is not a great week. Closings are not keeping up with new listings.
Expired
314

Well, another week has gone by. Although we continue to see fewer closings than I would like to see, if we can stay close to the 1,000/week rate, I believe after the first of the year, we will see a spring market like we’ve lived before.

Total Active Listings 09/2024

We are experiencing an expansion of our market. From early in the year, with slightly more than 4,000 active listings, to September, we now have 9,027 Active Listings. If this growth were to continue for another year, we would be in a market of oversupply. I doubt this will happen. It is my belief as soon as the Election is behind us, we will again work toward a seller bias in the marketplace.

I am not predicting or forecasting a market collapse in any way, shape, or form. I am anticipating an unusual seasonal increase in supply through the election. We see potential buyers and sellers on both sides of the political spectrum in a “wait-and-see mode.”

Just think if our Federal Government handled their affairs like Centennial? Is it possible to deal with 330,000,000 like we deal with 129,000 people here? I believe, it at least gives one pause for thought.

We’ll be back next week with more ideas and thoughts. In the meantime, if you are ever questioning your path of homeownership, please give us a call, text, email or smoke signal.

TheCryerTeam@kentwood.com