The entire Denver MLS is showing us that the sellers are still not giving up control of the market without a good fight. It is still showing it is a sellers market. One thing to note is that it is still the traditional slow season. Also many sellers are out of town for spring break and buyers aren’t really active right now. Although most Realtors in the Denver through the foothills to the mountains has not really seen any downturn or major market fluctuation in the last few years. It has been sort of a hanging doji, as the stock traders would say, showing the market is indecisive about the direction it wants to go. Luckily the market proven and held value and seen increased value over the last 5 or more years.
The real estate that is for sale is showing us that the indicators that point to a specific market movement isn’t really defined enough to tell future direction. With 1419 new listings the last 7 days being under contract which is about 500 more at 1910 is an indicator that buyers are still having less inventory to choose from. Throw in there 1461 that was sold (that is more of a trailing figure since most closes take 30-45 to close after going under contract) we are seeing a good deal more leaving the market than entering the market.
The one indicator that proves that the buyers are still being savvy and not just paying whatever the sellers are asking is the number of price decreases at 1011 that is a bit higher than the past months and weeks. 267 sellers have decided to put their homes back on the market for whatever reason. Either trying to beat the spring rush or they are feeling it is the time to list.
Only 147 withdrawn and 198 expired that is showing the sellers are sticking out and not pulling their homes off the market for not selling.