Good Morning Everyone!

Holy Moly, this has already been a Mad Month. With March Madness now extending into April, we get no relief. My Bracket was Busted by the end of the first weekend of competition, but Deirdre’s Bracket held on to 10th place in the office pool even after Duke’s fateful loss to Houston’s LJ Cryer.

Many of us have been suffering the wraith of Wall Street so far this year, but this morning the Dead Cat Bounced. This is often a signal read many ways. It’s similar in reliability to Puxatawny Phil. Be careful out there. We are being manhandled by Hedge Funds, Mutual Funds, and International Monies. It will resuscitate itself, it always does, and it always has. Great Companies always find a way. “Life finds a way.” JG

So, let’s delve into this week’s MLS Data for the Denver Metro Residential Market.

Denver Market Watch
New Listing (1758) This is the biggest week of the year so far. Buyers should be ready, their home is coming on the market.
Coming Soon (347)
Back On Market (274)
Price Increase (224)
Price Decrease (1775)
Pending (1501) Another big week here. Buyers and Sellers are finding their way to paper with signatures.
Withdrawn (144)
Leased (0)
Closed (1023) Finally, this is the first week of 2025 where the number of Closed Transactions has exceeded 1,000. Whoopee! Spring is in the air!
Expired (482)

So, I guess this is where I report, the spring selling and buying season has commenced. If your home is not selling, it is not priced competitively in comparison to the rest of the market. With 1,501 Listing going under contract last week, this is +/- 6,000 per month. We have an active, and in some neighborhoods a very vibrant market.

What’s the Chart telling us this week. It is telling us we have 7,338 Total Active Listings. Last year at this time we had 6,588. From the Under Contract Activity above, we could clear the deck in little more than 1 month. So, we have no oversupply situation. With this being said, it has never been more importatnt to price appropriately going into this market. AND, this is no time to price ahead of the market.

Anecdotally, we are witnessing External Obsolescence (Traffic), Functional Obsolescence (Floor Plan), and Deferred Maintenance (Tired Condition) being hit hard by this market. Typically, it is only economically feasible to address Condition. Recently, we have had contact with sellers taking on huge projects without consulting with us. Let us offer our advice on these projects so you get the biggest bang for your buck.

Please remember, we are here for you to lean on. Questions, Sources, and Experiences can be very valuable for you. TheCryerTeam@Kentwood.com