Busy Real Estate in Colorado (& a Heck of a Smart Kid)

Busy Real Estate in Colorado (& a Heck of a Smart Kid)

  • Victoria Merchant
  • 03/16/23

Bridger had a baseball tournament over the weekend, and they did great! Second place, thank you very much! I didn’t go, Tag did, but I got to watch it on my phone. And, since I’m praising Bridger, big shout out to my boy for making the honor roll! Keep it up, kiddo!

Sterling’s birthday is this weekend, and I’m super bummed because no one can come. It’s during spring break. Ugh. Live and learn. Next time, we’ll plan better and have it before or after the holiday. 

I’m finally feeling like I’m back into the swing of things, and it’s a nice feeling. Work is crazy, so let’s jump to it…

My Colorado Real Estate Status

I went active with a listing in Ft. Lupton and had a bunch of showings. This is the house where the client hired me because my name starts with a V, and so does his, but coincidentally, I also sold his uncle’s house in Ft. Lupton. So, that’s nuts. 

Anyway, the house went under contract yesterday. We got six offers and took the best, which was a bunch over asking. So, nice one. Remember, folks, price your house responsibly if you want it to sell.

I have another listing coming up in Louisville shortly, so I’ll fill you in when I can. 

Taking my clients to a house that recently came on the market, so I’m hopeful that it goes as planned because I think it’ll be a great house for them! And I took a client to see a land property that he decided he wanted in about 10 minutes. But, the lot he wants suddenly isn’t available but the one next to it is, so we had to change lots, and we’re waiting to hear if he accepts our (third) offer. 

I’m still working on that deal with the developer, and I’m putting together a presentation for him with some help from a friend who owns her own marketing firm, convenient. I love working with people that are awesome. We’re going up to Keenesburg next week to check it out. 

After the news of the Silicon Valley bank closing interest rates have gone down a bit and depending on your credit worthiness some are seeing sub 6% mortgage rates. I guess we’ll see how that all plays out in time. Good news? Bad news? I guess it depends on where you’re sitting. 

Spring Home Selling/Buying Guides

Current Denver Area Real Estate Market

Cooling in the market, will rate decreases spawn more demand in the comming weeks?

Lots of headline news regarding bank failures resulting in a 0.5% rate decrease, has it trickled down to consumers yet? This last week saw an increase in active listings to 3,695 available for sale, but new listings were down with 1,089 new homes entering the market. From last week to this week we saw that pending transactions went up 4.0% with 1,093 listings going under contract. The odds of selling fell by -1.3% to 65% which is overall a very healthy number for this time of year and is similar to what we experienced from 2013-2019. To offset demand in our market right now, we would need to have over 28,500 homes listed for sale so we only have 13.0% of a balanced market. Listings were seeing on average 4 shows per week, 14 showings to go under contract and 8 median days on market. Of the units that went under contract last week 28.6% reduced their price with an average price reduction of -5.3%.

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