June Newsletter!

View in browser

"No one has ever made a difference by being like everyone else"
~ P.T. Barnum

June Newsletter

Charging a nickel & Lucky Leader!

May 2024 has absolutely flown by!  Amanda and I have officially decided to charge a nickel for every comment about how much hair Grace has (college fund) and Leo was the proud recipient of the Lucky Leadership Award at Green Gables Elementary School!   

Market Update

In an ever changing real estate market (especially these days), one category is starting to really jump out: Active Listings!

New Data released in just the last few days shows: 9,159 Active Listings in the Denver market.  To use this number as a comparison tool, let's take a quick look where we were in the past few years at the end of May: 

2020: 7,170
2021: 2,075
2022: 3,652
2023: 5,228
Today: 9,159! 

After a sluggish 2023, it was expected that we'd see a 'snap-back' with homeowners finally getting to the point of exhaustion whilst holding out for interest rates to subside.  However, it was somewhat unexpected to see inventory rise as quickly as we're seeing it right now, especially without seeing rate cuts, yet...

Simply put; we have a back-up in the category of homeowners who waited but are now starting to list their homes, making for a bigger supply and more availability for homebuyers (if you can stomach the interest rates, at least in the short-term).  

I use the above chart often to illustrate the Denver market.  The focus here is on the Green line.  This line represents Active Listings.  This past month we surpassed 9,000 for the first time since 2019.  

Don't squint too hard, the chart dates back to May 2015.  In that time, we haven't seen Active Listings at this level any other time aside from May 2019.  

Homeowners: the median days on the market is still only 9 days.  That's incredible.  But, you have more competition and you'll need to take the necessary steps to price correctly, mitigate any potential 'turn-offs' for a buyer, and be ready to do the necessary items in order to position yourselves for a solid offer and closing price. 

Homebuyers:  Leverage is looking more favorable upon you!  You have options, finally right!?  It's still very important to prepare yourself; Know what you're looking for when you step into a house and be ready to walk away if it doesn't fit what you're looking for.  A new listing with multiple offers is ALWAYS going to be difficult to secure a contract on, but with a little patience and creativity, your castle awaits!

Congratulations Strasburger Family! 

15789 W Ellsworth Dr., Golden, Co

I love this house!  It sits on approximately 1/3 acres in the Mesa View Estate subdivision (just south of 6th avenue in Golden).  This house is on a corner lot with plenty of updated finishes, incredible entertainment space, high ceilings with flowing natural light, and majestic views of both the city AND mountains!  Click on the photo above to learn more about this paradise! 

Lakewood

Keep your eyes open for Lakewood's newest listing coming later this month.  Centrally located, this 3 bedroom // 3 bathroom townhome gazes over open space and horse properties!  

Wishing you all a Wonderful and Blessed summer ahead!

Travis Carey

Broker Assoc.
M: 607.435.5113
travis.carey@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.