1. Average daily active count declined by -3.7%, totaling 6,065 listings for sale in all of Denver Metro.
2. New listings decreased by -12.2% week over week, but increased by 0.7% compared to the previous year.
3. Pending transactions rose by 1.1%, with 638 listings going under contract.
4. Odds of Selling decreased to 41.5%, indicating a lower likelihood of properties selling within 30 days. This slowdown is typical for this time of year, with buyers being distracted with the holiday season. However, those homes priced right are absolutely getting attention by buyers hoping to avoid the spring rush.
5. To achieve a balanced market with a 6-month supply of inventory, we'd need 16,652 total listings, currently at 36.4% of balance.
6. On average, it took 13 showings to go under contract within a median of 36 days.
7. 8,498 showings occurred last week, averaging 1.4 shows per property.
8. Price reductions decreased to 51.2%, with a larger reduction size of -6.3% off the original price.
9. News of interest rates going down indicates demand will increase. Smart buyers are capitalizing on the opportunity today with longer market times and more negotiation power.
10. 2024 is looking like it will bring great opportunity for sellers who are preparing now and for buyers who are well positioned financially or ready to be creative
