03/12/2024 #CanYouFeelIt? #PentUp #Anger

Posted on March 12, 2024 by Dee & Tom Cryer

Can you feel it? There is almost no portion of this modern lifestyle in which we roam where anger does not reside. In fact, there is pent-up anger waiting for a trigger. This is not good for anyone, anywhere, anyhow. Am I right? So let’s ease into today’s post and let’s see where it takes us. Let’s not keep our heads in the snow or opt for sand.

This week, we are finally seeing the spring marketing season obtaining some traction and real supply in the marketplace, but closings are down. Suspense is real. Please read the comments below.

Market Watch

New Listing
1271 This is real progress for buyers. Growing inventory…
Coming Soon
216 No significance today…
Back On Market
250 This is always a sad day for sellers…
Price Increase
136
Price Decrease
861 Significant improvement with this number is needed!
Pending
1298 It’s always a good week when Pendings exceed 1,200!!!
Withdrawn
136
Leased
74
Closed
838 Sorry folks, this is not a good sign. Well below 1,000 is a sign of weakness.
Expired
185 No significance to discuss here.

As far as our Total Active Listings are concerned, we have ratcheted up a good bit in the last month. It will be my job to watch this, but today we stand at 4,529 in Total Active Listings. This has been growing every week over the last month. Now, with Closings down, it can only go higher. Supply always impacts the marketplace. I’m guessing right now, we will see more of this trend until rates subside.

Total Active Listings as of today from all 11 counties making up the Greater Metro Denver Market Area.

As we watch this Market unfold completely into the spring and summer marketing seasons, there will be much to report back to you. Stay tuned…tc

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03/08/2024 #FebruaryStats

Posted on March 8, 2024 by Dee & Tom Cryer

Here’s an end the week look at February’s numbers.

Third Party February Stats

This source reviews only 7 counties as we typically include 11 counties…

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03/05/2024 #ChoosingSides #Agreed #Volunteerism

Posted on March 5, 2024 by Dee & Tom Cryer

Hello Readers!

Before we get to the Denver Market Watch, let’s talk about #ChoosingSides. Over the next few months, Americans who have chosen sides will be busy moving you to their side. Let’s be kind, listen, and be true to our beliefs, hearts, or what’s best for our families. We don’t have to participate in The Divide!

Along the same line, believe it or not, Americans #Agree on #Homeownership. Regardless of party, the numbers do not lie. Both party’s affiliates enjoy an equal desire to be homeowners. This should not be surprising, with capital accumulation, tax advantages, and security, homeownership leads the list of all possible choices for agreement in the United States.

Finally, I am a cheerleader for community volunteerism. Take the lead, participate in your HOA, go to your town or county and make a difference, deliver meals for Meals on Wheels, or whatever it is, “Just do it!”

Today, let’s take a look at the last 7 days in the 11 counties making up the Denver Market.

Denver Market Watch

New Listing
1252 My Goodness, this is good news for buyers!
Coming Soon
262 No real increase here, but a solid number like last week.
Back On Market
231
Price Increase
241
Price Decrease
1009 This is ridiculous. Let’s stop over pricing!
Pending
1258 Strong number here!
Withdrawn
110
Leased
87
Closed
1301 This is the best number of 2024.
Expired
380

This clearly gives us a current look at things, but what does the history of Active Listings look like? Below is our chart of Active Listings over the last 10 years.

With 4,344 Active Listings on the market, this is in the typical range of expected activity based on the last 10 years of data. I we were to remove 2021 and 2022, the graph would list happily across the page.

Let’s not forget, that learning the market habits of a neighborhood can easily be accomplished in a couple of months. Learning the intricacies of a real estate transaction is a cumulative process obtained over years. A seasoned professional can be worth their weight in gold when things go south.

We’ll be there for you every step of the way…tc

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02/27/2024 #February #spring #MSM #Homeownership

Posted on February 27, 2024 by Dee & Tom Cryer

Hard to believe this is my last post of February. A blizzard outside this morning; can spring be far behind? Red Sky in the morning, sailors take warning!

Because of my lengthy career in Real Estate, I’m asking you not to absorb the negativity of the mainstream media and their reporting of homeownership and affordability! It has always been expensive to own a home. The comparable costs have moved around over the decades, but long story short, homeownership is always expensive. It requires saving for a downpayment, budgeting for that monthly payment, including PITI (Principal, Interest, Taxes, and Insurance), and who will mow the yard?

Our first home was acquired during a period of 17.5% 30-year mortgage rates. When we eventually moved to an 11% rate, and then a 9.5% rate we felt like it was a tax-free raise! I’m living proof homeownership is worth the sacrifice, commitment, and joy of a Thanksgiving Dinner, Christmas Morning, Easter Egg Hunt, 4th of July, or plain old backyard BBQ; trust me! It’s a good life!!!

This week has brought us a new round of data points in the Denver Residential Market.

Market Watch

New Listing
1030 Nothing to see here. Almost identical to last week!
Coming Soon
241 This is up a little, but nothing dramatic.
Back On Market
233 Deals still dying on the vine.
Price Increase
215
Price Decrease
849 My Oh My, We still can’t price them correctly!
Pending
1234 There is a 10% jump here. A strong spring season in front of us?
Withdrawn
105
Leased
65
Closed
964 About the same here. This should be over 1,000.
Expired
162

Moving on to Total Active Listings in the 11 counties commonly considered part of the Denver Market, let’s take a look at this week’s Chart of Numbers.

With only 4,261 Active Listings, other than 2021 and 2022, this is a quite normal supply number, and maybe slightly below. Buyers just can’t catch a break!

In closing today, please keep in mind, we are here for you every step of the way…tc

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02/20/2024 #Cheerios #Change #Wisdom and #FaithPopcorn

Posted on February 19, 2024 by Dee & Tom Cryer

While writing this post for MyTownCryer each week, I spend time thinking about the world around me. Sometimes it’s my beliefs, family, and career with Real Estate, but like today it’s just about random thoughts.

Before we examine the Denver Residential Market, we have to talk about Cheerios! Cheerios are something that have existed longer than me. In fact, arriving in the 1940s, who new 75 years ago, a breakfast cereal would still be an “A List” item? Why is it?

Do we resist change? Is this why? What is the wisdom we can take away from this knowledge? I would say first and foremost, Americans resist change until they don’t.

Cheerios are the Utility Player on the baseball team able to play almost all positions. They are that Senator or Representative that gets re-elected over and over again, but nobody knows their name. They might even be an MVP. They start off as snacks in a cup for toddlers and graduate as late-night nourishment for college revelers!

How does all this translate into wisdom? Most wisdom translates to staying power. Cheerios has staying power. Some neighborhoods have staying power, others have comeback power, and others coast along with no great energy or excitement.

You have heard how the 4 bedroom 2 story in the suburbs would become demographically obsolete, but builders are still building them. Who knew Covid would require that extra room as an office for Zoom calls?

This week the market is not really telling us anything new, but it is offering some affirmation to what we already know. Let’s take a look at the last 7 days of activity.

Market Watch

New Listing
1144 This is an increase from last week, but clearly not market defining.
Coming Soon
168 Not much here either.
Back On Market
241
Price Increase
150
Price Decrease
848 This is the stat that keeps on giving!
Pending
1134 Now, here’s a breath of fresh air! Properties going under contract at a much greater volume.
Withdrawn
122
Leased
84
Closed
944 Until this number is over 1,000 every week, I will not be convinced interest rates have run their negative course in this market place.
Expired
183

Here’s some interesting news about Denver! Ranked #1…

https://realestate.usnews.com/real-estate/housing-market-index/articles/the-hottest-housing-markets-in-the-us

Now, let’s take a look at Active Listings in Total so far this month over the last 10 years.

With just 4,172 Active Single Family Listings, we are nearing a shortage coming into the spring marketing season. Will more sellers step in? Will rates ease? Stay tuned…

I’m crediting Faith Popcorn with this one:

“Visualizing tomorrow isn’t about having a crystal ball, but about diligently searching for signals in today’s culture. The most important step is consuming culture outside your typical boundaries. Make it a habit.”

This is exactly why we report on the Denver Residential Market every week. Looking at submarkets and wondering, consuming neighborhoods and locations for years gives us the wisdom to share with our clients making them confident in their decisions when it comes to buying or selling. Why does this happen and this doesn’t? Let us share this knowledge and experience with you…tc

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02/17/2024 #DenverStats #January2024

Posted on February 17, 2024 by Dee & Tom Cryer

The South Metro Denver Realtor Association has published their Market Report, and here it is for your review…tc

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02/13/2024 #LunarNewYear #Bitcoin #NYC Weather

Posted on February 13, 2024 by Dee & Tom Cryer

Along the order of things making you scratch your head, the three hashtags above were in the top 5 Google searches yesterday and today.

I can understand #Bitcoin, it is on another one of its epic runs; now over $50,000. I can understand #LunarNewYear, but are you telling me, there are 200,000 people in New York City who don’t have an app telling them what the weather might be? Come on….

Anyway, over the past 7 days, we’ve seen the market wake up a little bit, but not much.

Denver Market Watch

New Listing
963 With under 1000 New Listings, this is becoming common place. It is predictive of a shortage.
Coming Soon
224 This is ramping up a little, it could be a good sign moving forward for buyers.
Back On Market
197
Price Increase
175
Price Decrease
730 Still coming on the market too strong…!!!
Pending
1042 This is a strong week, still early in the “selling season”.
Withdrawn
123
Leased
76
Closed
734 This is not a great number. Hopefully, the Pending Number will keep inching up and get some more buyers to the closing table.
Expired
177

Let’s look at some more broad Denver Market Watch Numbers. First, where has the Total Active Listing Number gone? We continue to see the total number of active listings in our MLS system erode as we come into the new year, however, if we factor in “Builder Inventory” the story shows a much greater number of available properties. We are going to keep a close eye on this.

Our Closed Sales to Active Listings Ratio is in line with past years of normal markets, but looks well out of line compared to the days of 3% interest rates. I’m predicting a more normal market with a more definable balance of supply and demand.

In closing this week’s Town Cryer, Dee and I look at what we do as Family Wealth Protectors. We take time to learn your true path to ownership. Whether you are moving up, a first time buyer, a last time buyer or somewhere in between, we have your family’s best interest at heart. For most households, the residence is routinely the most important asset. We want you to know, this is what is most important to us.

We’ll be there for you every step of the way…tc

TheCryerTeam@Kentwood.com

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01/30/2024 #MallWalker #ElevatorMusic #BagLady #FoodCourt #PatinaClean

Posted on January 30, 2024 by Dee & Tom Cryer

I was Mall Walking this week. This has been identified by me as someone who goes to the Mall with no intention of acquiring anything. When it is cold, it is a great way to walk and listen.

I have often wondered if the elevator music played in the mall is intended to make you buy something. Does it put the fever in you?

There is a different type of Bag Lady at the mall. A bag lady at the mall has as many bags as can be carried, all with different store logos, obviously demonstrating this person’s shopping accume.

Google this one, and you will get a difference of opinion. Most are in agreement, the earliest food courts arrived around 1970. The Food Court is, was, and will be one of the few things at the mall actually bringing people together. Older malls tended to have a movie theatre for an anker, but in today’s malls, it’s the food court.

Finally, while at the mall the other day, I was thinking about older houses and some maybe, not even that old. When showing property, buyers will often express their respective opinions on condition and appeal. I’ve long been a defender of patina. I would much rather have a well maintained and clean 1930s Tudor than something painted gray with white trim and white cabinets. That’s just me. Once it’s remodeled, it can never be original again. The patina tells a story. It may be someone else’s story, but it is still a story. When the story is gone, it’s never coming back.

A sunrise near Death Valley in January still offers bright yellow flowers in the foreground. Nature is still making it happen!!

It’s now time to move on to this week’s Market Watch Report for the Denver Metro Area.

Market Watch

New Listing
894 Not a big number here. Sellers are clearly not rushing into market!
Coming Soon
135
Back On Market
195
Price Increase
130
Price Decrease
721
Pending
1097 Now, this is a pretty big number for January. Well done!
Withdrawn
123
Leased
69
Closed
630 Coming off the holiday season, 30 days ago, this one is understandable…
Expired
157

Over the last 7 days, it has not been a remarkable week. Few closings, but a pretty active Under Contract/Pending number. New Listings to the market is not enough to get buyers off the couch or the chairlift…

What about Total Active Listings right now?

Closing out 2023 with just 4,606 and starting the year with January Contracts at about 200 higher than the number of new listings clearly starts to define another year of little to no relief for buyers seeking their dream home. I think we can safely predict Q1 2024 will mirror 2023 with limited choices for buyers and sellers still remaining on the sidelines.

Dee and I continue to be very active in this market. With transactions pending as far north as Erie and as far south as Colorado Springs, we really get a personal sense of the market. Buyer demand is still strong. The realization 6% or more for interest rates is the new normal and renting only benefits the Landlord, buyers with good credit and income are ready to make something work. Home is where the heart is…

Please don’t forget, we can help you in all 50 states and US territories. Additionally, our network has a global reach in countries you can’t imagine. If you need to sell or buy, we have the tools and resources to make the transaction smooth and seamless. Give us a call, and we will discuss the appropriate solution. “Every step of the way”

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01/23/2024 #WhoKnew? #2024

Posted on January 22, 2024 by Dee & Tom Cryer

The Land of Enchantment has some amazing scenery. Some is man made! These dishes are gigantic…

THE VERY LARGE ARRAY

These antenna are about communication. The Denver Residential Market is into its first month of the new year. We don’t have to listen to “deep space” to observe the trend in Denver.

Over the last 7 days, we are experiencing much of what I predicted earlier in the month. We will see supply start to grow, we will see Pending Listings start to grow, and we will see closings pick up with this trend. The market is embracing these higher rates. Sellers are accepting the cost of “buy downs” and buyers are seeking ownership. 

Market Watch 2024

New Listings
855 Like I had predicted at year’s end, Listings are spiking!
Coming Soon
119 Nothing to see here.
Back On Market
206 Funny how this happens…
Price Increase
143
Price Decrease
653 It is very hard to appropriately price in this market!
Pending
1098 Wow, this is a big jump. Let’s keep an eye on Under Contracts.
Withdrawn
116
Leased
67
Closed
678 Nothing to see here, but as we move into 2024, this will be the most telling.
Expired 177

But, Tom, how does the broader market of Active Listings look? With only 4,527 Active Listings in the 11 County Market of Denver, we are starting out 2024 almost with almost 500 fewer listings than 2023. Where will our Inventory come from this year?

LSS, no two years are alike. Markets are like snowflakes. There are some similarities we can draw from, however. We are starting the year off with low supply. We are still working through higher rates. Employment in Denver is still strong. I don’t know if we will need sunglasses, but our future is still bright.

TheCryerTeam@Kentwood.com

Please don’t hesitate to reach out and contact us. We maintain a living list of some of the best vendors in this market place. We are here for you every step of the way…tc

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01/16/2024 #DeathValley

Posted on January 16, 2024 by Dee & Tom Cryer

Next week we start our stats up again. 2024 Is sure to be raucous!

I can’t wait to share all I’ll learn this year with you…tc

Badwater!
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