Past Market Trends

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Soft Landing?
March 2019

We experienced the soft side of real estate in February.  Market statistics indicate a healthy real estate market with an increasing number of homes for sale complimented by an increasing number of buyers in the market.  Although the extreme “seller’s market” characteristics have moderated in most price ranges and neighborhoods, the supply of homes remain low and the demand remains strong.  A few highlights from February:

  • Number of available listings for the month increased by 47% in a year over year comparison
  • Single Family Homes placed under contract (pending sale) increased 16% from January
  • Homes placed under contract exceeded the number of new listings in February
  • Less than a two-month supply of homes for sale exists in our market (more than five months of inventory is considered a buyer’s market)
  • Average days on market increased 22% in February to 39 days (a bit more time for more buyers to shop for a home)
  • Difference between the list price and the final sale price increased 1% in February to 99% (a bit more room to negotiate)
  • New construction activity appears to be increasing as builders push to take advantage of current market conditions (more available inventory – more buyer incentives)
  • Mortgage rates moderated to a range of 4.25% to 4.5% improving affordability

Bottom line, a slightly more balanced market appears to be a positive development for both buyers and sellers.  Market conditions vary from neighborhood to neighborhood.  Contact me today for an update on the value of your home.

Below is a Denver real estate market snapshot based on February 2019 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Questions? Let’s talk – contact us anytime to discuss your questions, plans or the current value of your home.  If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.

Market Trends
February 2019

The Denver Metro Real Estate Market started the year with a continuation of the ongoing market adjustment.  The inventory of homes for sale continues to remain historically low.  However, the number of homes for sale has increased significantly in the past seven months from record lows while the number of sales has decreased consistently over the past seven months with a continued drop in sales in December.  Average Days on Market continued to increase in January. 

On a positive note, mortgage interest rates continued to decline during the month to the 4.25% range due to a shift in Federal Reserve policy.  Some of the market weakness can certainly be attributed to normal seasonal factors.  However, the significant year over year decline in sales continues to suggest the market is shifting to a more balanced market.  The continued weak performance of the market in January is certainly a concern for the short term. 

February will be an important month as the market typically begins to improve on a seasonal basis.  Many sellers list their homes for sale in February and March.  If the inventory of homes for sale increases, as it typically does in February, without a corresponding increase in sales activity it will be critical for motivated home sellers to stay ahead of the trend with appropriate pricing and aggressive home marketing. 

The relatively low inventory of homes for sale will continue to provide some support for the market.  The next few months will be a strong indication if the market shift is just a short-term adjustment or a long-term shift in the market.  In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on January 2019 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Questions? Let’s talk – call or text me, Tom Gross, at (303-591-2116) to discuss your questions, plans or the current value of your home.  If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.

Market Trends
January 2019

The Denver Metro Real Estate Market closed the year with a continuation of the ongoing decline.  The inventory of homes for sale continues to remain historically low.  However, the number of homes for sale has increased significantly in the past six months from record lows while the number of sales has decreased consistently over the past six months with a continued drop in sales in December.  The number of price reductions in the MLS continued at a more moderate rate in December.  Average Days on Market continued to increase in December. 

On a positive note, mortgage interest rates declined during the month to the 4.5% range due to market volatility.  Some of the market moderation can certainly be attributed to normal seasonal factors.  However, the significant year over year decline in sales continues to suggest the market is shifting to a more balanced market. 

The continued poor performance of the market in December is certainly a concern for the short term.  January will be an important month as the market typically improves on a seasonal basis.  Many sellers list their homes for sale after the holidays.  If the inventory of homes for sale increases, as it typically does in January, without a corresponding increase in sales activity it will be critical for motivated home sellers to stay ahead of the trend with appropriate pricing and aggressive home marketing. 

The relatively low inventory of homes for sale will continue to provide some support for the market.  The first few months of 2019 will be an strong indication if the market shift is just a short-term adjustment or a long-term shift in the market.  In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on December 2018 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Questions? Let’s talk – call or text me, Tom Gross, at (303-591-2116) to discuss your questions, plans or the current value of your home.  If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.

Market Shift
December 2018

The Denver Metro Real Estate Market continued to decline in November.  The inventory of homes for sale remains historically low.  However, the number of homes for sale has increased significantly in the past six months from record lows while the number of sales has decreased consistently over the past six months with a continued drop in sales in November.  The number of price reductions in the MLS continues at a high rate.  In addition, mortgage interest rates are now in the 5% range.  Some of the moderation can be attributed to normal seasonal factors.  However, the significant year over year decline in sales suggests the market is shifting to a more balanced market.  The continued poor performance of the market in November is certainly a poor indication for the short term.  If sales continue to decline motivated sellers will have no choice but to lower their price this winter.  If the current trend of price reductions and declining sales continues or intensifies it will be critical for motivated home sellers to get ahead of the trend with appropriate pricing and aggressive home marketing.  The relatively low inventory of homes for sale continues to provide some support for the market.  Time will tell if the market shift is just a short term trend or the start of a long term shift in the market.  In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on November 2018 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Questions? Let’s talk – call or text me, Tom Gross, at (303-591-2116) to discuss your questions, plans or the current value of your home.  If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.

Market Moderation Continues
November 2018

The Denver Metro Real Estate Market continued to decline in October.  The decline was less severe than September.  The inventory of homes for sale is still low historically.  However, the number of homes for sale has increased significantly in the past six months from record lows while the number of sales has decreased consistently over the past six months.  The number of price reductions in the MLS continues at a high rate.  In addition, mortgage interest rates are now in the 5% range.  Some of the moderation can be attributed to normal seasonal factors.  However, the significant year over year decline in sales suggests this may be the start of a longer term trend.  The poor performance of the market in September and October is certainly a poor indication for the short term.  Motivated sellers may have no choice but to lower their price as winter approaches.  If the current trend of price reductions and declining sales continues or intensifies it will be critical for motivated home sellers to stay ahead of the trend with appropriate pricing and aggressive home marketing.  The relatively low inventory of homes for sale continues to provide some support for the market.  Time will tell if the market moderation is just a short term trend or the start of a shift in the market.  In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on October 2018 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Questions? Let’s talk – call or text me, Tom Gross, at (303-591-2116) to discuss your questions, plans or the current value of your home.  If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.

Market Moderation Accelerates
October 2018

The Denver Metro Real Estate Market declined significantly in September.  The inventory of homes for sale is still low historically.  However, the number of homes for sale has increased significantly in the past five months from record lows while the number of sales has decreased consistently over the past five months with a major drop in sales in September.  The number of price reductions in the MLS continues at a high rate.  In addition, mortgage interest rates are now in the 5% range.  Some of the moderation can be attributed to normal seasonal factors.  However, the significant year over year decline in sales suggests this may be the start of a longer term trend.  The poor performance of the market in September is certainly a poor indication for the short term.  If sales continue to decline motivated sellers will have no choice but to lower their price as winter approaches.  If the current trend of price reductions and declining sales continues or intensifies it will be critical for motivated home sellers to get ahead of the trend with appropriate pricing and aggressive home marketing.  The relatively low inventory of homes for sale continues to provide some support for the market.  Time will tell if the market moderation is just a short term trend or the start of a shift in the market.  In any case it is important for sellers to realistically evaluate market conditions and stay ahead of the trend.

Below is a Denver real estate market snapshot based on September 2018 Statistics from DMAR Market Trends

This information is for the Denver Metro real estate market. Real estate market activity varies from neighborhood to neighborhood. If you would like an instant real estate activity report for your neighborhood click Market Report or call Tom Gross for more information.

Questions? Let’s talk – call or text me, Tom Gross, at (303-591-2116) to discuss your questions, plans or the current value of your home.  If a move is in your future now is an excellent time to discuss home preparations and a timeline for your move.

Where Do I Go Next?

Contact Us

Contact Us

Thinking about selling your home or searching for a new home, please feel free to...

Meet the Tom Gross Team

Meet the Tom Gross Team

Meet one of the top producing teams in Kentwood - The Tom Gross Team

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