Howdy My Real Estate Friends!

I missed last week’s post. Please forgive me, but it was a time of renewal for me. Cataract Surgery was the theme of the day. I had both lenses swapped out in less than an hour, and I am typing this post without glasses this morning. Also today, I dropped from three eye drop medicines 4 times per day to one eye drop medicine three times a day for this coming week. I would say discomfort has been minimal, and my watch tells me I’ve slept through it all with good sleep scores. The amazing thing IMHO has been, I reach for my glasses only to remember, “I don’t need them”. I will have another follow-up with my doctor in a few weeks to confirm this miraculous improvement. Hallelujah! Praise be to God…

Let’s see how Denver’s Single Family Residential Market performed over the last 7 days.

As you can see, we had a significant increase in New Listings this week. We increased from 7,025 to 7,351. This could be a one-time thing, or it could be a pattern into June outpacing Demand to the point of oversupply. With that being said, where has our Total Active Listing count gone?

With over 7,350 Active Listings reported, this is the highest we’ve been this year. It’s not has high as last year at this time with over 8,000 Active Listings. Is this a “Good News” or “Bad News” story? I’m not sure. Earlier in the year, I had predicted a market where Sellers and Buyers had a balanced opportunity. We are clearly moving in this direction, and possibly a buyer’s market in some locations.

Let’s talk about some of the anochdotal characteristics I’ve observed in recent months. First, New Home sales incentives have come at us in full force. Higher shared compensation, interest rate buydowns, and onsite parties, classes, and incentives have become the norm. Resales are offering seller incentives right up front. The list goes on, but my point is clear and direct: the pendulum is swinging in the buyers’ favor.

Long story short, this market is complicated. You need some boots on the ground watching every nuance from all directions. Don’t go to the marathon with a sprinter. You need someone to assist you every step of the way.

CALL: 303-773-3399

Email: TheCryerTeam@Kentwood.com Tom@Kentwood.com DCryer@Kentwood.com