Good Morning Everyone,
Thank You for tuning in this week!
Tuesdays are a great day of the week to collect data. Not to much weekend activity to skew the numbers and not to much of the week’s end activity. It’s just the perfect day in my humble opinion. But first, this month is National Gratitude Month.
“Always have an attitude of gratitude.”
“This is a wonderful day. I have never seen this one before.”
And, last but not least, “Living in Denver is a gift for which we should all be grateful”.
And, Dee and I are grateful for testimonials like this one;
“The Cryer team is a gem of a team at Kentwood. We were fortunate to have partnered with them in this journey. Dee has been extremely thorough, methodical and phenomenal buyers agent. She is extremely dependable and wins the customer trust with facts, focus, thought out process and intention. She reads and discusses very frequently making sure we are on the right path, leads us to the right path when sometimes buyers could be emotional and not logical. Brilliant experience. Makes the Realtors world a better place with agents like Dee & Tom for buyers/sellers. We need more of them to make a better impression to the realtor community.” …Anitha T.
As we take another look at the MLS numbers around Metro Denver for this Week #45, we can see the trend continues. Far too few new listings, and buyers continuing to find listings to place under contract and get to the closing table. I‘ve repeated this before, but in a “SMSA like Denver” with somewhere around 3.25M people and around 145K residences, we should have more for sale! When a Denver Metro Buyer comes into this market, we can literally scan their favorite neighborhoods with NO results. Let’s take a closer look below.
|New Listing (870) Not enough…|
|Coming Soon (130)|
|Back On Market (194)|
|Price Increase (219)|
|Price Decrease (496)|
|Pending (1599) This is a mid-season number, not late fall… Demand is crazy high!|
|Closed (1540) Another mid-season number. Crazy demand…|
As you can see, the 11 counties I count making up my Denver Metro Statistical Area clearly is telling a continuing story of shortage vs. strong demand.
Next we have this historical perspective. It too, clearly shows us the long term trend of diminished supply and consistent strong demand.
We are not through November yet, and already you can see after the first week, there is no shortage of demand. And, supply continues to drop to the levels of spring 2021. Once again, I’m not seeing any statistic here indicating a “bubble” is on the horizon. Come back next week, and I will provide a 10 year look at this market offering even more confirmation to my hypothesis.
In the meantime, if you have questions or concerns about your real estate, we’ve got you covered. Let’s talk…tc
Dee & Tom Cryer, SCRP
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237