December Update | Denver Market

1) Thanksgiving is the coolest market weekend for both new listings and buyers putting homes under contract.

2) Inventory is up, primarily due to Colorado buyer activity cooling rather than new listings being marketed.

3) Any price reduction should be done the week before or the week after a major holiday, given a typical pop of of activity surrounding holidays.

4) SELLERS, the chance of selling is 40% right now.

5) Showings are down 39.1% overall from last year.

6) Sellers are getting 1 showing per week right now. A listing is taking an average of 12 showings to go under contract.

7) With the current showing rate and median days on market at 32 days, setting expectations and having a good strategy are huge in this market.

8) SELLERS - If you need to sell something this year, time is of the essence as buyer demand drops off every day that we get closer to end of year.

9) 55% of pending transactions needed a price reduction to get an offer.

10) The minimum price reduction needed to trigger offer is 7% on average.

CJ Porterfield Greg Cox

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