An unusual turn of events, but heavily dependent on price, condition, and location. Buyers are looking but not quite ready to pull the trigger.

I hope this message finds you well and ready to tackle the opportunities that the Denver real estate market is currently presenting. This past week has given us some intriguing data and trends that are worth your attention.

Firstly, we observed an unusual trend over President's Day Weekend, as the market defied historical patterns. We saw an increase in both pending transactions and the odds of selling, alongside a decrease in the number of days listings spent on the MLS. This indicates a brisk pace in the market activity, deviating from the usual slowdown during this time.

The average daily active listings remained stable, showing a marginal increase, reflecting a steady supply. However, the influx of new listings was noteworthy, significantly higher than the previous week, and also up from last year's figures. This surge has outpaced the rate at which listings were going under contract, marking a shift from recent trends and providing a broader range of options for buyers.

Interestingly, the odds of selling have seen a slight uptick from last weekend, surpassing the average odds we've seen in previous Februarys. This suggests that sellers entering the market now have a marginally better chance of making a sale within the next 30 days compared to historical averages.

However, to reach a balanced market with a six-month supply of inventory, we would require a significant increase in total listings. Currently, our market is operating at a fraction of this ideal balance, highlighting the ongoing inventory challenges.

Showings have significantly increased, indicating strong buyer interest and activity in the market. The average shows per property and the number of showings required to go under contract provide valuable insights into market dynamics.

Lastly, the rate of price reductions has remained consistent, with a notable increase in the average reduction from the original price. This is an important factor for both buyers and sellers to consider when negotiating transactions. As we move forward, I am keeping an eye on these trends will be crucial in advising clients and navigating the market effectively. I consistently will use this data to our advantage and continue to provide exceptional service to those I represent.