Post-Thanksgiving 2024

Weekly Activity Overview:

As expected, the real estate market showed a modest rebound following the slower activity over Thanksgiving weekend. This uptick in activity is expected to persist for the next 7-10 days before reaching its seasonal low during the Christmas and New Year’s holidays. Historically, the market remains relatively quiet through January and early February, with the official selling season kicking off after President’s Day weekend, particularly in metro Denver.

Navigating Market Realities: “Radical Acceptance”

The current real estate landscape continues to reflect higher interest rates and prices, a shift unlikely to reverse to the levels seen in recent years. Embracing “radical acceptance” means fully acknowledging these conditions without resistance or judgment, allowing agents and consumers to focus on actionable insights rather than longing for past market dynamics. While acceptance doesn’t imply approval, it provides clarity and focus for navigating the market effectively.

Key Metrics and Market Dynamics:

Inventory Levels: Active listings saw a week-over-week decline but remain significantly higher compared to the same time last year.

New Listings: New and “coming soon” listings showed substantial week-over-week and year-over-year increases, reflecting a temporary boost in seller activity.

Pending Transactions: Pending sales experienced a sharp rise, suggesting that buyers are responding to the slight increase in options.

Odds of Selling: Despite improvement, the Odds of Selling remain below historical December averages, highlighting a more cautious market compared to previous years.

Showing Activity: Showings surged both week-over-week and year-over-year, but homes are taking longer to go under contract, giving buyers more time to evaluate their options.

Price Adjustments: While price reductions are becoming less frequent and less severe, over half of the homes going under contract have adjusted their pricing to align with market realities.

When Is the Best Time to List?

Looking ahead, many experts anticipate 2025 market conditions will mirror those of 2024. To determine the most advantageous time to list, we rely on data trends from the past year. Historically, the market becomes more competitive the weekend following President’s Day and builds momentum through mid-April. Activity tends to level off in May, cool slightly during the summer, and remain less competitive from September through the end of the year.

For sellers looking to maximize visibility and competition, listing early in the year to align with these trends can yield better outcomes. The data-driven approach ensures that decisions are informed by real-time market dynamics rather than guesswork.

Most Recent Sales by the LoKation Team