How Are Showings and Buyer Demand Keeping Up With Modern Times?

  • Megan Douglas
  • 03/24/20
Hello, Denver Realtor Megan Douglas here! It’s my goal to keep you up to date with the facts as we gather them. Living in unprecedented times we’re going to have to take it day by day for real estate predictions. But, here is some helpful information as to how showing numbers are matching up this past Saturday and Sunday vs Saturdays and Sundays throughout 2020. Realtors have been considered an essential service but I personally am utilizing technology to keep an appropriate distance and get clients the information they need.

How are showings keeping up with modern times?

 
Saturday showings this weekend as compared to Saturdays throughout 2020.
Source: First American Title and Showing Time
 
 
Sunday showings this weekend as compared to Sundays throughout 2020.
Source: First American Title and Showing Time
 
Source: First American Title
 
Showing Time is the showing service used by most Realtors for the 11 Metro Counties. Showings continue to slow by approximately 50% over the previous week. This chart above shows that there were 4,604 showings this Saturday as compared to 8,607 just two weeks ago. The last chart shows how these showings are dispersed over price points.

Is there pent up demand that will keep things going?

Source: First American Title
 
I think we’re just going to have to take it day by day to see how it plays out. As you can see in January and February 2020 (the light blue bar) there were less homes to pick from as compared to the average between 2013-2019. In 2020 Denver continues to experience another Extreme Seller’s Market, this metric shows signs of another compressed cycle. The busy season tends to be between February-May. What we are going to have to wait to see is if on April 11 the real estate market bounces right back to where it was. Or if maybe the busy season is pushed back a couple months? Or if the real estate market moves along at a conservative rate. Only time will tell.
 
Hopefully all this information is helpful. If there is anything else I can gather for you or helpful resources I can provide please let me know.

 

 

Work With Megan

I genuinely care about my clients. (In fact, they’re often surprised by how much so!) But this is a major step in anyone’s life and I want it to be the best experience possible.

Follow Megan