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January 17-23 | Denver Market | Top Ten Talking Points

Mckinze Casey January 27, 2024

January 17-23 | Denver Market | Top Ten Talking Points 

1. The metro Denver real estate market continues to gain steam due to a shift in the relationship between supply and demand. The market is heating up earlier than usual this year.
2. There were 810 new listings last week.
3. Closings were up 15% last week.
4. 888 listings went under contract this last week, representing 15% more pending deals this week than this time last year.
5. The Odds of Selling is up to 53%.
6. Price reductions are only effective if 5% or greater.
7. The amount of inventory is representing only 20% of the total inventory needed for current demand.
8. Showings were up 14.5% last week.
9. Sellers saw an average of 2.7 showings last week.
10. 37% of all listings had to drop price to get a contract.

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