Hello Everyone!
Supply vs. Demand
Let’s get right into it this week. By the numbers, there are a few very interesting things going on.
First Note; it took 265 Expired Listings, 227 Withdrawn Listings, and 1,594 Price Reductions to obtain 1,441 Under Contracts this week. This means 2,086 Sellers made significant changes to their Listing to obtain just 1,441 Under Contracts. This is the widest disparity I’ve reported this year.
Second; 1,940 New Listings came on the market. This is 500 more new listings this week than last week. Once again, this is the largest number jump I’ve witnessed this year!
What does it mean? We have the lowest interest rates right now than we’ve had all year. This is a typical seasonal number of Under Contracts, but the number of New Listings is way out of balance compared to previous weeks.
New Listing (1940)
Back On Market (279)
Price Increase (91)
Price Decrease (1594)
Under Contract (1441)
Withdrawn (227)
Leased (52)
Sold (1300)
Expired (265)
Now more than ever this year, we need to watch this very closely. Is this an aberration, or is this an early indicator of a significant market change? Only time will tell. Let’s Bookmark this post and revisit it later in the year.
In the meantime, do you want or need a Millennial Mansion? Most of us don’t. Just the thought of a house or home too big is frightening for most. Who wants to take care of it, and who wants the hassle? Is #Greenland too big? Who remembers Seward’s Foley?
“U.S. Secretary of State William H. Seward signs a treaty with Russia for the purchase of Alaska for $7 million. Despite the bargain price of roughly two cents an acre, the Alaskan purchase was ridiculed in Congress and in the press as “Seward’s Folly,” “Seward’s icebox,” and President Andrew Johnson’s “polar bear garden.”
Interesting times we live in, but are they any more interesting than 1867? “Manifest Destiny” was still a dream of just a few. But, how would the USofA look today without those in favor pushing the idea for years?
In no way am I suggesting the US needs or should want to “buy Greenland”, but it serves as an example of interesting times. The one thing the study of history allows us to do is to compare and contrast. There have been battles over all sorts of “Land Grabs” everywhere for centuries. It will never end. It’s human nature for some to live in that “mansion”.
In the meantime, if your “land grab” includes a new home or requires that you sell a home, Dee and I are here for you every step of the way. TheCryerTeam@Kentwood.com and 303-773-3399. Don’t hesitate to reach out to us. Thank you…
There is an old expression. “Buyers want last year’s prices, but sellers want next year’s prices.” This is extremely true when the market is rapidly appreciating. Buyers and Sellers always have a choice until they don’t. We believe there is nothing more complicated than the minds of buyers and sellers. They can swing from one “Must Have” to another “Must Have” in a single afternoon of showings. So, let’s not drift…
So, as we look back to the top and reread our opening quote, we don’t want you to be that buyer or that seller. We want you to be in the present with a clear view of what’s happened and what could possibly happen. This is why you need a plan. A clear and open plan with all parties involved. Let’s spend an hour together and work on that plan. The choice is yours.
Now is not the time to PANIC. The stock market will swing like a pendulum as it always has. But, everyone wants to know. What is the #BlackSwan to hit the Denver Residential Market?
With metro-Denver housing inventory at its highest level since October 2013 and interest rates still low, now is a good time for home buyers. On the flip side, with home prices peaking now is also a good time for home sellers; making for a more balanced market. 
While we wish homeownership came with an instruction manual, it’s likely you will have to learn through hands-on experience. Here are a few basic home maintenance skills every homeowner should master. 
According to Colorado Parks and Wildlife, there are over 2,000 lakes and reservoirs where you can go to have a boating adventure! These 8 locations are the perfect place to hit the water this summer. 
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Let’s jump right into it! This week’s numbers are crazy. The Denver Residential Market as presented though our MLS System by me every Tuesday has a lot to tell us this week!
Dee and I profess creating a plan. Even if the plan has a few bumps in the road along the way, its like a road map to your future. Please take advantage of our amazing service!
This week I traveled to Ouray, Colorado. (Your-Ray for the uninitiated) I have traveled around the famed Alpine Loop. This part of Colorado captures one’s imagination of Men and Women overcoming incredible odds to carve out an existence under the harshest conditions. Laboring to get men and gear up over 10-13,000 foot passes again and again and again had to have been epic!
Don’t get snowed under, give us a call, let’s create a plan and get you out of harm’s way….tc
MyTownCryer 
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