"Buy straw hats in the winter when nobody wants them, and then sell them in the summer, when everybody needs them."

- Ken Fisher

Happy New Year!

Santa and New Baby!

This December we held a 'Meet and Greet with Santa' with many of you! It was so much fun and the kids all loved joining us to meet the Big Guy from the Northpole. Amanda and I are exhausted from the holiday season (which I bet some of you feel the same way), but Amanda is a little more exhausted as we're preparing for baby #3 coming this May (girl #2)!

Market Update

Its hard to believe we're already in 2025, but here we are. Hopefully you haven't written '2024' too often to begin the year.

Let's hop right in by looking at where things are moving and where they're not. To start with, I pulled my market update from October (showing September numbers) above and compared them to what we saw in December. As expected (but a little more so this year), inventory/Active Listings took a pretty significant nosedive entering into the last month of the year.

Why? Well, there are two main reasons; 1. We're coming off a 13-year high for inventory in the Denver Metro, insert Newton's Law...if you're a homeowner and you're competing with over 11,000 other listings, it made you think twice about listing at the end of the year. And, 2. While homeowners are ready to sell, in most cases they don't NEED to sell. So, taking a month to wait for seller's to re-enter the market after the new year makes a lot more financial sense.

Market Trends // Comparing 2023-to-2024

**Active Listings: 6,888 VS. 4,971

While there was a 26.02% decrease in the number of active listings this past month (compared to November), we're still holding at a pretty high level compared to last year. Remember, last year was a stalemate: SELLER'S didn't want to let go of their ridiculously low interest rates and BUYERS were unwilling to accept the reality of 6-7.5% rates (they were waiting for a drop).

Twelve months ago (December 2023) we had only 4,971 Active Listings. Compared to this year we've seen a big jump up: +38.56%! The reason behind this is due to homeowners finally getting sick of waiting, it's been 2 years of 6+% rates. Simply put, everybody is starting to get used to the new normal. Aside from a major national, or international, crisis, it's unlikely that we'll see a return to sub-3% rates. Thus, if you want to buy a home or sell a home, accepting the new normal is a must.

One piece I'd like to add to this: I am expecting to see rates relax a bit, but if you're holding out for a 3% mortgage you have 2 issues: 1. it's highly unlikely to happen, at least not anytime soon, and 2. a substantial decrease in interest rates will dramatically improve everybody's ability to bid up home prices.

Pending

Littleton

Congratulations to Brenda! We are officially under contract in Littleton and moving through the process toward closing. This was a fun, and very unique, search finding the perfect place and waiting for the right doors to open (pun intended). I'm very excited for you!

Coming Soon

Lakewood

Coming Soon

Denver // 2732 S Linley Ct.

Active // Featured Listing

Cherry Creek

Join me this Saturday at our Open House to discover this stunning new listing in the heart of Cherry Creek, offering a prime central location with easy access to shopping and entertainment. Enjoy the convenience of a low HOA, making this property an ideal choice for those seeking both comfort and value in a vibrant community.

Thank you 5280! I'm excited to be in the March 2025 edition!

Life Update

As many of you know, I have 2 career passions that I've been pursuing for years: Real Estate and leading the Sports Ministry at Red Rocks Church. While I've thoroughly enjoyed both of these passions, my wife (Amanda) and I have decided this past fall (with our third child on the way) that I would pursue a singular focus in Real Estate. It wasn't an easy decision as I love doing both and I'm reminded of all the outreach events, adult sports programs, and youth sports leagues over the past 15 years. But, given this particular phase of life, it just made more sense to pick one focus. If I met you through Red Rocks or one of the sports leagues, I look forward continuing to be involved, but just at a different capacity. Thank You Red Rocks Church for so many wonderful years!

Travis Carey

Broker Assoc.

M: 607.435.5113

travis.carey@compass.com