Colorado Real Estate Market & Africa, Baby

Colorado Real Estate Market & Africa, Baby

  • Victoria Merchant
  • 02/9/23

Thursday, I went solo to an all-you-can-eat sushi dinner in Lakewood while Bridger was at baseball. It’s always nice to go to dinner alone and just get in that me-time. Plus, sushi. My favorite food. Anyway, here’s my pro tip: take yourself out to eat every now and then. It’s totally underrated. 

Africa is coming up! I have all my bases covered for my clients, inclusive of a local agent who will help me out and do showings while I’m away, plus I’ll be on call the whole time. So, feeling confident about leaving, which makes me very excited. 

It’d be great if my brother was here working with me so we could partner up while I’m away. He’s working on getting his real estate license, and fingers crossed he finishes and gets here soon so we can start on my master plan of taking over the world (of real estate… and more in the mountains of Colorado than the world, but… dream big). 

We have a couple of people coming to meet our foster dog this week. Hopefully, it’s a match because, while we absolutely love him, it’s time for him to get his own, for-good, family. 

Shout-out time: Happy 26th birthday to my baby sister! 

And, on a serious note, the devastation left behind due to the earthquake in Turkey and Syria has left nearly 18,000 people dead, many still missing, and destruction beyond comprehension. Temperatures are freezing and thousands are homeless. If you’d like to help those impacted, please donate through recognized and trusted organizations to ensure your invaluable resources get where they’re supposed to go. 

My Colorado Real Estate Status

I had a listing that went great! It was a lead from 72SOLD. They knew all about the program before I got there (did their research), and they hired me on the spot. 

And I had another listing appointment over the weekend- a cabin on 38 acres. They’re selling because the cabin is 500 square feet, and the family consists of a couple, three sons, two cats, and two dogs. I mean… seriously.

Okay, so here’s the answer to the question you’ve all been waiting for: Is the Colorado real estate market going to crash? No. It’s picking up. It’s heating up. Multiple offers are back on the table. We’ve dipped below a month’s inventory, meaning there are way more buyers than sellers. So, look out; another seller’s market is on the horizon. 

If you need to sell, it’s gonna be a good spring, and if you need to buy, prepare yourself for some competition. 

Why There Won’t Be a Wave of Foreclosures Today

Current Denver Area Real Estate Market

Don't look at the monthly data, look at the weekly data.

As I sat in front of my computer pulling the numbers for January I became discouraged as the numbers for January don't reflect what is happening just one week into February. I still updated the January numbers and they are available for download through the links below but I want to focus on the weekly numbers as they tell the story of what is happening right now.

We have entered into a Compression Cycle where we have more buyers in the market than homes to sell them. This creates a shift between the relationship of supply and demand where multiple offers are now being brought out. This last week active inventory for sale in the 7 Metro Counties slipped below 4,000 units for sale and pending transactions jumped by 11.1% with 1,025 units going under contract. This pushed our Predictive Months Supply of Inventory down to 0.9 months. When this number drops below 1.0 months it means that multiple offers are likely. This week we also reported that for pending transactions between February 1st -7th, 2023 that Median Days on Market dropped to 16. If a home is priced right, shows well and is correctly positioned in the market they are going under contract in just over 2 weeks- vs. looking at the closed numbers for January 2023 showing Median Days on Market at 28. The monthly numbers are no longer sufficient to show the current trend we face in today's market.

Read more here.

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