Your Denver area REALTOR®
FREE direct access to the Denver area MLS is now available in the palm of your hand! This is THE ONLY MLS home search app for the Denver Metro area and it just launched in May 2020!!!
Downland and start searching today 👇 👇 👇
app.recolorado.com/BB76F594
Updated 6/4/2020: This data depicts the number of showings and new contracts each weekend through the various phases of COVID19. It’s important to note that these numbers are based on a Friday to Monday weekend and not a 7 day week. As you can see the Stay at Home Order slowed market activity significantly; however, even when in-person showings weren’t allowed our market was still moving forward. With the return of in-person showings across the Metro area, strong Buyer demand quickly resurfaced.
5/2/2020: This data depicts the number of showings and new contracts each weekend through the various phases of COVID19. It’s important to note that these numbers are based on a Friday to Monday weekend and not a 7 day week. As you can see the Stay at Home Order slowed market activity significantly; however, even when in-person showings weren’t allowed our market was still moving forward. Interestingly enough new contracts have been trending at nearly a 1 to 1 ratio to new listings through March and April. While so far things are still indicating a strong real estate market for the Denver Metro area, the data from the next couple weeks and months is when we’ll see if our market is in for a shift.
Looking for a little fun to pass your time at home? I challenge you to a game of black out BINGO!
The topic of paint colors comes up frequently with friends and clients so I’m sharing my list of my top recommended colors. My personal favorite is Agreeable Gray, it’s a warm neutral that provides the perfect backdrop to any room on it’s own or blends in well with your favorite pops of color.
Reviewing 3 BIG updates: 1. How Real Estate is Operating under Safer at Home Order; 2. Forecasting if Supply and Demand are indicating a shift; 3. Evaluating Buyer Demand.
Market stats reported are Year To Date through March, 31 2020. This data provides a baseline of activity before COVID19 restrictions were put in place. April stats will give us a mix of contracts before and during restrictions and it will be May stats where we truly see the impacts of supply/demand and home values from the COVID19 pandemic .
March data shows: An increase in demand compared to last year, a decrease in supply compared to last year resulting in an increase in home prices.
This info is averaged across the Metro area, some segments of the market are hotter than others! Not everything is flying off the market and anecdotally I’ve noticed the highest demand for homes that are remodeled with the finishes Buyers desire most. The majority of Buyers want a home they can move into with little to no work.
In this edition we will review Denver Metro Market stats year to date through March; which real estate activities are currently being considered essential and non-essential; and NEW improvements added this week to the virtual home buying/selling experience.
Despite social distancing and disruptions to day-to-day life, showing traffic and pending listings in our MLS remains strong with nearly 800 new contracts this past weekend.
Thanks for joining Jennifer Blake with Novella Real Estate in Denver for this special edition update reviewing indicators for local buyer demand, 3 BIG changes since last week impacting real estate and temporary operational changes for current Buyers and Sellers.