Quiet through the holiday
Showings declined as we enjoyed Christmas Weekend with family and friends. Only 4,003 showings were set in Metro Denver the week of December 21st-27th which is a decline of -50.7% less than the week before. The week between Christmas and New Year's is historically the slowest week of the year, so expect showings to decline again this week. On average there were 0.8 shows per property last week and 12 showings to go under contract. Days on Market jumped up to 44 from 34 the week prior. Days on Market are likely to be longer headed into this weekend.
New listings were down as well this week, with agents understanding that showings would be down with only 191 new listings entering the market which is down -50.3% from the week prior. There were only 14 Coming Soons, down -61.1% from the previous week helping drive our Active inventory down to 5,020 which is down -7.2% from the previous week. December 31st typically represents the largest purge of Expired listings at the end of the year helping drive our inventory down at the end of the year pushing us into our deeper Seller's Market early in 2023. I'm hoping the market will pick back up as it has in years past the weekend directly following the Super Bowl.
