Buyers are making up for lost time. The pending listings are up 22.3% from last year. Even new listings are up, but if you’re a Seller, how can you resist? Average closed price back up over $530K, still nothing for Buyers to pick from, so it’s good to be a Seller. It’s extremely difficult to gauge where this thing is going. I didn’t really expect to see active listings so… Read More »Market Peek September 2020
So, here we are. This Corona Virus thing is still around. This country, and the people in it, are pretty goofy (nicest, softest word I could come up with). No one knows when this will pass. What have you been doing? While states have opened up businesses to varying degrees, things are still less than normal. Masks are commonplace here in Colorful Colorado (no idea when that will change), agents… Read More »Still Learning Through the Pandemic?
The usually “hot” summer has seen August numbers keeping the Corona trends in tact. Buyers are busy with closed listing up a tick, but pending listings way up at 25.2%. There is a ton of competition for most any listing and that is shown in the SP:LP ratio (the percentage of the listing price at which the average property is selling) hitting 100.1% That means that the AVERAGE home is… Read More »Market Peek August 2020
Realizing that I live in Colorado AND am a child of the 60’s, let’s begin by making one thing clear here, grass in this headline means the green stuff on many sections of ground/lawn, not marijuana. That said …. well, never mind. In his book, Bowerman and the Men of Oregon, there are a few paragraphs where author Kenny Moore describes sitting on the stadium or track infield (grass) with Frank… Read More »Got Grass? Maybe You Should…
The trends of June have held for July. Closed listings up from last year again, except this time a big 20.7%. New listings are up as well. Inventory is down 36% from last year and down about 6% from last month. This big lack of inventory, however, is creating an even more competitive market driving the average closed price up to $530,918 for the month. Looking year over year, things… Read More »Market Peek July 2020
People are crabby. While this Corona Virus thing has been tough on everyone, it seems to have made some people REALLY crabby: Corona Crabby (new terminology – might catch on). Back in about, oh 2002 or so, Glen Campbell had a hit song called Try a Little Kindness. Twenty-five years prior to that, James Taylor wrote (melodically, of course), “The secret of life is enjoying the passage of time.” I think the… Read More »Corona Crabby? How to Get Along During the Pandemic….
With Safer at Home clearly changing the way people think about being out and about, we’ve seen some positive steps for the Denver Metro market. With some of the restrictions loosened, and with real estate agent guideline for dealing with the virus doing the same, we’re seeing more activity. While new listings only dropped 2.9%, active listings are DOWN almost 32% from last year. So, what’s the good news? Pending… Read More »Market Peek June 2020
Interestingly, the Corona Virus gave us two trends: 1) don’t buy, 2) don’t sell. Closings are WAY down from last year at a whopping 44%. New listings are down over 17%. Average closed price for the Metro area is also a little down at $487,954, from last month’s $495. I imagine that when things loosen a little and buyers, and their agents, can get back out there we’ll see an… Read More »Market Peek for May 2020
WOW!!!! The pandemic is here and it has had a significant effect on the real estate market. Everything that was trending toward a little more inventory and a flurry of Spring activity has turned. With Active Listings down almost 16% and new listings down 37%, we can clearly see that Sellers have applied the brakes to any thought of diving in to this craziness. Closed listings also saw a BIG… Read More »Market Peek April 2020
As someone who travels and then stands in front of people for a living, this whole Corona Virus thing has presented a bit of an obstacle. I had the busiest two and a half month run ever get postponed, cancelled, or taken online. Amazingly, I have been pretty darn okay with it. Yeah, I miss the income (a lot), but had good enough early months to easily keep the ship… Read More »Diligent Transformation During Stay at Home