#DenverMarketWatch 1-8-2018

Profile Artistic ImageAs the new year begins, everyone is ready.  The rush to be the first new listing on the market is upon us.  The buyer who has been without dreams of the “sugar plums” of fresh inventory on a landscape of low interest rates and little or no competition.  Well we didn’t get a foot of fresh powder, but we are getting some.  We could absorb about 2,500 new listings overnight.  Denver picked up so many “Top Ten” awards in 2017, is there anything left for 2018?

New Listing (826)  This is unique in recent years.  More new listings than UC’s.
Back On Market (192)  Off for the holidays but back now.
Price Increase (183)  Buyers still bidding up listings.
Price Decrease (314)  Overzealous?
Under Contract (822)  A great week coming out of the holidays.
Withdrawn (96)  Giving up so soon?
Leased (24)
Sold (858)  Who closes during the first week of the new year?
Expired (891)  Who can’t get them sold in this market?

With the first week behind us, we have 51 to go.  Follow along for my clear, concise and cogent analysis of the Denver Market.  We always love to hear from you.  What are you seeing, what is happening in neighborhood?  Do you have a new favorite place?

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“Starting from Zero”, Really?

A common expression in this business has always been “A New Year and We’re All Starting from Zero Again”.  I’ve always understood the truth in this, but at the same time, I always believed a job well done in 2016 created referrals in 2017 and so on.  That’s the truth of the matter.

Starting from ZeroAdditionally, as I observe this business change from a relationship based business into an internet lead “poptart” business to some degree, it has really always been this way.  Back in the day, today’s internet lead was called a “Floor Call”.  The floor call has become the push of a button on Zillow or Realtor.com.  We are starting to observe the unintended consequences of this consumer behavior.  In a real estate transaction, there is nothing more valuable than having an advocate.  The push of a button is easy, but a real teammate in invaluable when the waters get rough.

We are starting to sit at the “kitchen tables” of sellers this week.  They’ve have the perception appreciation has blessed them, and now they are ready for more.  Denver’s been good to us… Now is the time to make a plan.  Failure to plan is a plan for failure!

So, when the year starts over, we really aren’t starting from zero again, we really are the accumulation of experiences, contacts, clients, participants and more.  People are always watching us; all of us.  When good has been observed, that does not go unnoticed, and so often, what goes around comes around.

So as we “Start from Zero” one more time, let’s continue to become that participant with years of experience and not the one with one year of experience many times.

Let’s schedule some time to create your real estate plan in 2018.

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Realtors Work 24/7/365

24:7:365People routinely overestimate or underestimate how much we work.  The statistics for the last 7 days give great insight into a Realtor’s World.  Although 1,500 closings a week during peak season, over 1,000 is very strong.

New Listing (337)  Not many at all…
Back On Market (131)  One Realtor Fails, Another is willing to try
Price Increase (71)  Usually a result of Multiple Offers
Price Decrease (158)  Working for 1st Qtr. 2018
Under Contract (615)  Wow, Christmas Week!
Withdrawn (113)  They gave up!
Leased (16)  This is a growing trend
Sold (1067)  Year End Closings Very Strong
Expired (210)

The point I am making is simple.  As Realtors, we are working year round, but not all at the same time.  The system works.  Even the disrupters like Zillow, etc. wouldn’t happen if “the system” did not work as well as it does.  We sell houses in May, and we sell houses in December.  It is a 24/7/365 business.  Unless you live on a north facing slope with a long driveway in a snowy climate, you are just as likely to obtain a sale in December as May.  Don’t hesitate to call, chat or email…tc

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Quietly Becoming a BIG DEAL (RiNo)

Bullish on Homeownership

Bullish on Homeownership

If you have not been following this center of activity north of Denver’s CBD, let me tell you, there is something revolutionary happening.  Start peeling the layers back, and RiNo is making a huge statement with its developing “Innovation Center”.  Healthcare Innovation and Tech has never looked so prominent in Denver.

Egg Strategy is the latest healthcare company to join the roster of tenants at Catalyst Health-Tech Innovation (HTI) in RiNo.

Catalyst HTI

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Denver Still a Top Destination in 2017

View Coverage of the Top 15 Moving Destinations by Metro Area for 2017:

  1. Washington, DC
  2. Dallas-Fort Worth, TX
  3. Los Angeles, CA
  4. New York, NY
  5. Atlanta, GA
  6. Austin, TX
  7. Houston, TX
  8. Philadelphia, PA
  9. San Francisco, CA
  10. Chicago, IL
  11. Orlando, FL
  12. Seattle, WA
  13. Denver, CO
  14. Boston, MA
  15. Phoenix, AZ

Moving in 2018?  Give us a call, we can help in all cities everywhere!

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12261 Rodeo Circle Parker, CO 80138

This is the one you’ve been waiting for.  Under $400K just off Main Street on a quiet little circle with no traffic.  Finished walkout, views, deck, and more.  Please, come take a peek.

Run Our Virtual Tour

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Denver Market Watch December 12, 2017

Supply vs. Demand

Supply vs. Demand

It is just hard to imagine a market like this.  Declining inventory and strong demand are keeping sellers in the driver’s seat, but recently in some communities and higher price ranges, buyers are starting to gain some traction with choice and pricing.

It is just a guess at this point, but there is some anecdotal evidence, affordability is starting to kickback.  2018 Will be a watershed year.  Buyers and Sellers will be facing off a price points never seen before in Denver.   Who will win?  We will have to wait and see, but the next episode will be worth waiting for.

New Listing (717)
Back On Market (214)
Price Increase (122)
Price Decrease (505)
Under Contract (1214)
Withdrawn (196)
Leased (25)
Sold (1239)
Expired (229)

Here are some follow up graphics on several submarkets.  Remember, if you have any questions, please contact us…tc

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We Can See the Finish Line: Denver Market Watch December 2018

Imagine a market where New Listings are only 2/3 of Under Contracts in the last 4 weeks of the year.  A market where 555 price reductions in the last seven days express the urgency of sellers across the metro area can only be a good thing for that late season buyer.  In reality, we have the best of times for both buyers and sellers right now.

If you are a Buyer or a Seller, please come investigate the advantage of late season or year end participation in the market.  There are many advantages for both!

New Listing (853)
Back On Market (220)
Price Increase (127)
Price Decrease (555)
Under Contract (1336)
Withdrawn (224)
Leased (32)
Sold (1630)
Expired (498)

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Down the Stretch with the Denver Market Watch 11/28/2017

Supply vs. Demand

Supply vs. Demand

2017 Continues to be amazing how week after week, we put so many more houses under contract than new listings brought to market.  This week is no different.  We have fewer live listings this November than we had last November.  A week with numbers like this can only reaffirm this as a “Seller’s Market”.  If you are considering a move, this may be the best time ever!

New Listing (477)
Back On Market (160)
Price Increase (80)
Price Decrease (363)
Under Contract (1045)
Withdrawn (129)
Leased (17)
Sold (927)
Expired (204)

Rest assured, we are watching this market very closely.  We are ready for the questions you might have.  Never hesitate to reach out and ask.  We may even write about it next week.

Gobble, Gobble, GobblePS… Hope you and yours enjoyed a great Thanksgiving!

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Happy Thanksgiving from Your Town Cryer!

Thanksgiving

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