Denver Real Estate market update

As we closed out of the month of February, the Denver Real Estate market was on pace to set new records.  Today as we analyze the data, we aren’t see any major shifts in the market just yet. New listings have been declining year over year during Week 11 and 2020 is no exception. New listings were down 447 units from 2018 to 2019 and 461 from 2019 to 2020 thus contributing to our low inventory, high demand, multiple offer environment.  Pending sales are right on track with year over year totals and holding steady.  Were the fun begins is with closed transactions.  Sales are UP 178 units compared to Week 11 of last year!  This is no surprise as we were all preparing for a strong Spring Selling Season.  Even despite COVID-19 buyers and sellers are moving forward with their real estate purchases!

We will continue to watch the numbers week by week and report how buyers and sellers are behaving in real time allowing us all of us together to try and predict how the market will likely preform over the weeks ahead.

Given the current circumstances surrounding Covid-19, it’s important to stay informed about the current status of the Real Estate Market with reliable, fact-based data.   This week’s chart reflects “Week 11” or Monday, March 16th through Monday, March 23rd. You will be able to see how the new listings, pending transactions and closed transactions stack up compared to Week 11 in previous years.