Good Monday Morning Denver!
Supply, Rates, Elections… Oh My!
Let’s take a close look at the Denver Residential Market. I think it is important for “cooler heads” to prevail. The sky is not falling, but the market is changing. After many years of Denver’s unbridled growth, limited new construction and artificially low rates, we’ve been observing the maturation of this market.
We have more supply than we did in 2017. We are experiencing more price reductions than we did in 2017, and we are seeing an increase in Day on Market than we did in 2017.
With all this being said, last week’s MLS numbers still look pretty darn good.
New Listing (1436)
Back On Market (283)
Price Increase (117)
Price Decrease (1704) Sellers looking to get it done before year’s end!
Under Contract (1498) This is a very strong week. Buyers are busy!
Withdrawn (246)
Leased (40)
Sold (1096)
Expired (255)
What we are seeing anecdotally continues to be true. Well Presented, Well Located, and Well Priced listings are still selling at a rapid pace. Sellers unwilling or unable to address any of these three hurdles are suffering the effects of increased supply, higher rates and the election season.
We can help! Give us a call, and we’ll be there…tc
There are more homes to choose from today than in the past four years. In fact, since July the active inventory has grown by 7.36%. At the end of August, there were 8,228 active listings on the market. 
So, you’re finally ready to make some updates to your home, but you don’t have the time or perhaps the skills to take on a home improvement project. In that case, hiring a remodel contractor is the best plan of action. 
This Halloween take your kids trick-or-treating in the neighborhoods with the most Halloween spirit! These communities are safe, give out the best candy, have the spookiest decorations, and there are sure to be plenty of other kids. 
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For Sale
Wow! The rate of price reductions in the Denver Market is accelerating! We don’t normally do #MidWeekUpdates, but with 1,720 price reductions in the last 7 days is huge. What does this mean?
Good Monday Morning To You All! Let’s take a look in the window…
Customers ask us all the time, “What’s the best time of year to put a house on the market?” There is no easy answer to this question, but here’s what we know. First, statistically, a listing going active in the early spring tends to get closer to list price in a shorter period of time. With that being said, we sell houses 12 months a year. There are more listings available in the spring, but there tends to be more buyers too. As we close out a year, we tend to “run out” of “fresh” inventory, and as a result, listings tend to languish longer because they are not fresh.
As you can see above, it was a week with little excitement. One of those 1,653 was ours, one of those 1,236 was ours and one of those 1,463 was ours. We are constantly “in the market”. Don’t hesitate to contact us. It’s a lovely day in the neighborhood!
7150 E. Berry Ave. Greenwood Village, CO 80111
641 Ruby Trust Way Castle Rock, Colorado 80108
MyTownCryer 
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