August // market update

Nearly 3/4 through a year of record-breaking appreciation, unprecedented buyer demand, and a dearth of supply brings a welcomed change to our market: Seasonality. In 2020 we did not have a slowdown from the end of Q3 into Q4 which led to all sorts of speculation (and insurmountable uncertainty) for 2021. Our scorching hot market this year was a surprise given the global pandemic, and without question 2021 will shape our market for years to come.

Just sold! Wash Park West listing - thrilled for my clients who achieved 33.4% return on their investment!

Traditionally this time of year (2021 included thankfully) we see a slowdown of buyer demand, inventory, and overall activity leading into the fourth quarter. Should trends continue from this month (average closed prices and inventory decreasing) Q4 may model towards what we usually experience in a "normal" year.

While a decrease in inventory is to be expected through the end of the year, proportionally the amount of inventory we have in comparison to this time last year is something I'm watching closely. The combination of inventory shortages, record low interest rates, and pandemic buying led us to this place (Average sold prices for the metro up +14% y-o-y (year-over-year) in August and peaked at +30% y-o-y in July) which I feel may march forward into 2022. Notably, our y-o-y ending inventory in August is DOWN compared to last year by 38%. Should this trend continue we may hit all time record lows for ending inventory in 2021, possibly leading to more-of-the same for 2022.

Just sold! Wash Park West (seems to be a theme this month)! Thrilled for my clients moving into one of Denver's most exciting + vibrant locales

Cutting - edge listing + marketing strategies will continue to deliver results for sellers through 2022 (and always). Should now be the time to capitalize on your home's equity, reach out and we can customize a successful strategy for your transaction!

If you are considering making a move prior to year end, or any time next year I anticipate one of the most dynamic, seasonally volatile, yet nuanced markets we may experience for some time. Should demand remain steady markets will continue to favor the seller, and anyone can benefit from having the right strategy in place. 

Should you have any questions or ideas about how to approach your journey, I'm always here to support.

Wishing you all the best always,