February 2023 continues to show a steady, stabilized market. We are still in a slight Seller’s Market, despite inventory up 208% from last year (Feb 2022). We still need more homes. Supply is typically showing 1-2 homes in a neighborhood price point that someone is looking for – there just isn’t a massive inventory selection. How is that
January 2023 is a story of interest rates and inventory. From the Denver Metro Association of Realtor Market Trend Report: Active Listings dropped 1,339 from December to end at a total 4,120 by the end of January. This is 29.94% below 2019 and new listings are 40.84% below 2019 (2,858). The total inventory for detached
The end of 2022 ended with a much needed 222% increase of inventory over last year. Even though that sounds like a lot, that’s the good news. We could have used 300%+ increase to balance the market. The challenge has been the rising interest rates everyone is talking about. For every 1% increase in interest
“It’s beginning to look a lot like recession 🎵 ” – a play of a holiday classic! True story ~ can you say 178% increase with homes inventory from last year (Nov ’21) to Nov ’22 – wow! Pair that with seasonal slow down, and there are all of a sudden more opportunities for home
Well, buyers asked for a reprieve and they got it. Bidding wars are still out there, but they are fewer and further in between. We are moving back towards a balanced market with inspection contingencies and seller concessions. As for the supply of homes, it’s definitely coming – 115% more homes from October 2021 to
Well, if you’re not in the know by now, you’ve been living under a rock 🪨!! Every single statistic shown in the above grid shows a softening market: 7% mortgage rates / the highest in 15-20 years; Increasing inventory – up 90+% since last year at this time; Prices at all time highs – prices
Can you say market shift? Active Inventory is up 93.7% from August 2021 to August this year. Can you say market shift? These are incredibly convincing numbers that shows you the slow down is for real. What does this mean for sellers? Sellers – don’t panic. You simply need to ask your CJV Real Estate
Interesting… Looking back at last year at this time, the difference is that inventory has increased 81%! What’s also interesting is to find out that the time on market also went up considerably – almost to two weeks on average before properties went under contract. This is in stark contrast to only eight days last
How quickly have things changed in the Denver Real Estate Market. Overnight. Inventory is now up almost double – 94.1% from June 2021 to June 2022. “Well, it’s about time” is what we should be saying if we are buyers. Is that really what buyers are saying, when interest rates are choking their budgets now?
The Denver Market Shift That’s right. The market is finally decelerating, in major part to interest rates above 5% for the first time in years. Prices have gone so high. There is simply so much buyers can handle in terms of appreciation. In the last 2 years alone prices have gone up 40% here in