Michael RushReal Estate Broker, Keller Williams Realty DTC · Real Estate Broker at Keller Williams Realty DTC

The Colorado market is heating up with or without the Fed's help on rates.

31 May 2024 · 1 min

Watch on YouTube

1:01

In this brief market update, Michael Rush presents recent Denver-area real estate statistics, highlighting a 18.9% month‑over‑month and 23.5% year‑over‑year increase in a key metric (likely median price or sales volume), a 9.5% MoM and 17% YoY rise in active listings, a slight dip in the close‑price‑to‑list‑price ratio to 99.8%, a 23.7% reduction in average days on market to 29 days, and a 9% drop in showings needed to go under contract (now 14 showings). He interprets these numbers as evidence that buyers are adapting to current interest rates and inflation, indicating a market pickup despite higher rates. The video ends with a personal call‑to‑action, offering his services as a real‑estate guide for anyone with questions or referrals.

Chapters

up 18.9% month over month and 23.5% year over year. Our supply of active listings increased by 9.5% month over month and 17% year over year. Our percent of close price to list price decreased slightly to 99.8%. Our average days on market decreased substantially month over month by 23.7% down to 29 days. Another interesting number and statistic is how many showings it takes to go under contract. That number decreased by about 9% to 14 showings. So that just goes to show that people are getting used to the interest rates and they still need to buy and sell real estate. So our market here in the greater Denver area is picking up despite interest rates staying where they're at and despite core inflation readings Shanghai as well. If you have any real estate questions or know anybody that needs a guide, my name is Michael Rush and I'd love to help you. See you.