If you have enjoyed living in Colorado for any length of time, you know. If you have been watching the national weather, it has been HOT and DRY so far this summer/winter. BUT, and that’s a big but, El Niño (I don’t know how to put a little tilde over the N, but Grammarly does.) is on its way to the rescue.

“Yes, El Niño conditions are developing and are expected to increase the odds of above-normal precipitation (rain) in Colorado, particularly through the summer monsoon season and into fall/winter.”

One of the Citizen Weather Journalists I follow on YouTube is telling us that by mid-July, the rains will start falling in Colorado. Hallelujah!!!

Only fools and newcomers predict the weather in Colorado, and I hope I’m neither. I am an optimist, and the science seems to be real, and the next few months may be wetter than they have been.

NOW off to what Denver’s Single-Family Residential Market looks like.

Denver Market Watch
New Listing (1020) The 4th Cut New Listings by 50% over last week.
Coming Soon (291) This is double last week’s number.
Back On Market (256)
Price Increase (96)
Price Decrease (1628) Trying to get it done over the holiday.
Pending (1143) A nice week here. Some stayed home and shopped!
Withdrawn (186)
Leased (0)
Closed (1281) Not a bad month-end week absorbing inventory!
Expired (721)

Let’s look at Total Active Listings. My guess is it will be somewhat stable and comparable to last week.

Compared to this time last year, when we had 12,440 Active Listings, we now have 9,720 SFR Active Listings. So, our SFR market continues to maintain control, and demand remains relatively strong.

Compared to years past, however, the total number of closed SFR transactions is lagging.

In the 11 counties surrounding and included in the Denver Metro Statistical Area, we’ve had 16,543 Closings. This is fewer than last year at the same time, but also last year at this time, there were about 3,500 more choices for buyers. The last word this week is that the market is tightening up, but Rates, Market Uncertainty, Election Year Politics, and the sense of urgency have waned.

As always, we are here to answer your questions, listen to your wants and needs, and guide you through the process. TheCryerTeam@Kentwood.com or 303-773-3399.