Evergreen Market Update
The number of active listings in the Denver Foothills is up slightly month over month but is still on pace to be lower year over year. Although the talk around the Keller Williams Foothills office (with our 65 brokers in the Denver Foothills) is that inventory will continue too rise throughout the spring as it usually does. No one know if I will be increasing on a year over year bases. As a Realtor I hope our inventory increases only so my buyers can have larger pool to choose from.
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If you look at the chart below the light at the end of tunnel might be that according to NAR most Americans move about every 5 years these days. This 5 year chart shows the huge amount of litings just five years ago. The amount of equity that has bee built up in the last 5 years might be enough of an incentive for people to “cash out” and move on.
| Active Listings, Number of | ||||||
|---|---|---|---|---|---|---|
| Month | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
| Jan | 796 | 583 | 309 | 215 | 180 | 164 |
| Feb | 766 | 584 | 305 | 212 | 182 | 167 |
| Mar | 765 | 559 | 340 | 219 | 211 | 194 |
| Apr | 814 | 602 | 373 | 256 | 246 | 172 |
| May | 889 | 714 | 440 | 300 | 269 | |
| Jun | 940 | 776 | 468 | 352 | 323 | |
| Jul | 953 | 791 | 482 | 405 | 343 | |
| Aug | 928 | 738 | 454 | 389 | 352 | |
| Sep | 865 | 642 | 405 | 356 | 318 | |
| Oct | 804 | 539 | 374 | 306 | 286 | |
| Nov | 726 | 418 | 303 | 250 | 229 | |
| Dec | 669 | 353 | 264 | 198 | 196 | |
It is healthy for all markets to have some inventory available. When there is too little inventory people kind of freak out and the mentality turns into a “must have” situation. It is the same principal that drives up stock prices. The thing about stocks is they tend to be much more liquid and volatile. The real estate market tends to have much more drastic corrections. At least this is the case lately. In other words if you live in the Denver Foothills and thinking about listing your home, give me a call and I will be happy to discuss the market with you.
Of course this is not in all Denver Foothills Communities but it is for most of them.
