This was the title of a story in the Denver Post last Saturday written by Aldo Svaldi. According to CAR the sales of detached homes dropped 14.6% last month state-wide from sales last September and sales of attached homes dropped 15.2%. According to CAR here are the declines reported by county—

  • Adams–down 15.8%
  • Arapahoe–down 17.8%
  • Boulder—down 10.3%
  • Denver–down 11.9%
  • Douglas—down 16.4%
  • El Paso—down 17.2%
  • Jefferson—down 25.6%
  • Larimer—down 4.4%
  • Mesa—down 18.8%
  • Pueblo—down 26.7%
  • Weld—down 7%

 

Besides northern Colorado it was surprising to see that Boulder County had the smallest decline in sales when it’s one of the most expensive counties. I assume there are more cash buyers in Boulder County. Second, I found it amazing that Pueblo County saw the biggest decline and they have some of the cheapest homes in the state.

 

Still we need to remember perspective and remember that we had just 1 bad or down month. 1 month does NOT make a trend. Second, for at least 5 years we have been wishing for more inventory to sell. Well, now we have it! And I think this is a good thing for us and buyers especially. But, I am still seeing clients involved in significant bidding wars on homes priced under $400k.