MyTownCryer

Good Morning Everyone!

Let’s take a quick look at what the Denver MLS has to say to us this week.

I believe this is a good week write anecdotally.

Working with a buyer in the $300-500K in the last week there were about 20 homes in a large geographic area when we started. Today, more than half of those listings are under contract. The remaining active listings all suffered from location, floor plan or condition deficiencies which will probably require a +5% price reduction.

Another buyer in the $700-950K price range in a relatively small geographic area only had one new listing last week. It backed to a significant nuisance, and was located under the Centennial Airport’s north approach. We passed on it, but the market didn’t. It’s now under contract. “One man’s trash is another man’s treasure.”

Basically, the market is so thin with new inventory, buyers are jumping on anything and everything, but I’m asked, Will it last?

The numbers say it will, the Under Contracts and Solds this week were very strong, and the Active Listings are just not keeping pace. Let’s think about this for just one minute. In the Greater Denver Metro Area, there are 1.5M residences. We have about 9,500 active listings. The insignificance of this ratio is epically low.

We will have a plethora of economic news this week. For the next 12 months, it will be the goal of one party to characterize this news negatively, and the other party to characterize this news as the “next coming”. Long story short, we have an EPIC ride in front of us. Fascinating times, enjoy!

A successful move, relocation, down pricing, down sizing or even moving up takes planning. Jumping out of a airplane without a parachute is not healthy. The proper order and proper plan for buying or selling a home requires the same attention to detail. Give us a call, come in, spend just one hour with us. Let us show you a clear pathway to a successful transition. We’ll be there for you…

Dee and Tom Cryer TheCryerTeam@Kentwood.com 303-638-3202

Hello Everyone!

Everyone always asks, “How’s the market?” I usually respond with, “We are very fortunate to always be busy.” In the ’80s when we had a regional real estate depression, we were on the field helping relocation companies, banks and individuals solve their real estate “problems”. In ’99, we were there for the dot.com and telecommunication consolidation. When the foreclosure cycle started in Denver during the early 2000s, we were there to bail everyone from individuals, to banks to portfolio property managers out of their inventory. And, now we look for the disrupters we can’t see around the corner. What will happen next, and when will we all know? “Something” is going to happen; but what? Only time will tell.

Let’s take a quick look at what the Denver MLS has to say to us this week.

New Listing (858) Wow, is this ever a low number! Lowest I can remember all year.
Back On Market (213)
Price Increase (120)
Price Decrease (1147) Sellers are still curbing their enthusiasm.
Under Contract (1163) This is a nice strong seasonal number.
Withdrawn (243) Will these reappear? Or, sellers giving up?
Leased (64)
Sold (1365) What a great seasonal number. This is almost a peak season number!
Expired (567)

With the last month reporting 9,286 Active Listings and 4,506 Sold Listings over the entire Denver Market; that reflects little more than 2 months supply. So this week when we see more Sold Listings than new Active Listings, this ratio can only improve. This shows great strength as we move into the fall and winter and seasons! Although I’m not seeing a disrupter on horizon, and can tell you, “We are safe this week”.

Let’s not get hung up on what might happen. If we look at this graph, supply and demand ebb and flow. This has not changed since the beginning of data. We still have great data ratios and there is not evident appearance this will change anytime soon. Keep tuning in, and we’ll keep you posted!

A successful move, relocation, down pricing, down sizing or moving up takes planning. Jumping out of a airplane without a parachute is not healthy. The proper order and proper plan for buying or selling a home requires the same attention to detail. Give us a call, come in, spend just one house with us. Let us show you a clear pathway to a successful transition. We’ll be there for you…

Dee and Tom Cryer TheCryerTeam@Kentwood.com 303-638-3202