How economic changes are impacting Denver Real Estate Values.
A critical report delivered, weekly.
WHAT YOU MUST KNOW
We expect the social and economic fallout of COVID-19 to impact the Denver real estate market. You’ll need reliable information. Not rumor or opinion, but fact-based, data-driven truth. Many homeowners have built substantial equity in their homes over the last few years and they are asking us for advice.
THIS FIRST REPORT
This first report is intended to establish a baseline of Denver real estate performance through “Week 10” or Tuesday, March 10, 2020. All future reports will analyze the changes in market conditions and how those changes may impact equity in your real estate assets or timing of your decisions. We’ll provide guidance and recommendations each week based on our findings.
YEAR TO DATE
Through week 10 of this year, the Denver real estate market was on pace to set records.
- Inventory levels were down 21%
- We were on pace to sell a record 57,000 homes
- Home values were up almost another 6%
The graphs linked below show performance through March 10. We will update these charts each week and provide a deep explanation of any shifts we observe.
For more details on each chart, click HERE.
OVER THE COMING WEEKS
Each week we are tracking the four most crucial leading indicators of weekly market activity compared with the previous three years. This information will provide timely insight on market performance, allowing you to make the most informed decisions.
Four leading Market Indicators:
- # of new homes listed for sale the prior week
- # of homes that went under contract the prior week
- # of homes that close in a week
- # of showings per home and total home showings in the Denver metro area
We are also tracking two lagging indicators weekly:
- Average Sales Price
- Days On Market
These activities tell us how buyers and sellers are actually behaving in real time and predict likely market results over the next few weeks.
We’re here to help. Reach out if you have questions.
This article was originally posted here on the Colorado Home Realty blog.
