It's time for our summer real estate news wrap up. As Jimmy Buffett once wrote in one of less popular songs "They're closing down the [...]
The excitement for an increase in inventory is never long lasting for a Colorado real estate agent. It has been a heck of a roller coaster ride for a few years now. Just when the market looks like we are going to add a positive gain in inventory we go and sell all the existing listings. It is a wonderful thing for the sellers but it is rather annoying for our buyers out here. The other day I was talking to my buddy at Caliber Home Loans, Mike Sadowski, and we were looking at the new listings vs sales and we were kind of excited about what the numbers were showing. Then looking at it today and we basically sold those and then some! Instead of breaking it down to Evergreen, Conifer, Golden and Denver this week we will look at the Denver real estate market as a whole. We see on the chart to the right the numbers for the entire Denver MLS for residential activity over the last 7 days. This chart is pretty similar to what we have seen for years now. The market is seeing a drastic difference in new listings to sales ratio. One interesting thing we see is all the indicators show a strong sellers market still. All but one. There were a lot more price Decreases than normal. This is showing the market that buyers will buy if the price is in the proper range. Not over paying though.