New Listings and Showings Surged Last Week After Governor Eased Showing Restrictions

By JIM SMITH, Realtor(r)

Sellers who had been holding back during most of April put their homes on the market during the calendar week ending Saturday, May 2nd. And showings of listings also surged.

Listing Activity – 7 Days ending 5/6/20 within 25 miles of the Colorado State Capitol

Altogether, 1,648 homes within 25 miles of the State Capitol were listed on Denver’s MLS between Sunday, April 26th and Saturday, May 2nd. That’s pretty close to the 1,885 number entered on the MLS during the same 7-day period in 2019, and more than double the 819 homes listed two weeks earlier. (During the week of April 19th to 25th, only 993 homes were entered on the MLS.)

Of those 1,648 listings, 29 were withdrawn from the MLS by week’s end for unknown reasons, and 10 were entered as “sold” without ever being active. That still left 1,609 new active listings, 511 of which were already under contract by Tuesday noon. That’s significantly above the 405 homes that went under contract by the end of the same period last year.

By the deadline for this column at noon on Tuesday, 233 additional listings had been entered as “active” on Denver’s MLS. 

Not included in the 1,648 number are 176 listings that were entered on the MLS as “coming soon,” a status that didn’t exist until this year. One of those was my $550,000 listing at 2950 Jay St. in Wheat Ridge. It went “active” this week. Showings begin Saturday, May 9th.  There are more pix on the website.

So, while we can hardly say life is “back to normal,” the real estate business is certainly showing renewed signs of life. Frankly, I’m surprised at the size of this surge in listings and signed contracts.

Like most agents, I have many buyers who have given me their search criteria, and the MLS automatically sends them alerts of homes matching those criteria as they are entered on the MLS. In my case, I have nearly a hundred such email alerts in effect. Since Gov. Polis replaced “stay-at-home” with “safer-at-home,” which allows in-person showings to resume, I have seen a spike in the number of buyers clicking on the links for listings sent to them.  My listing at 1957 S. Taft Street in Lakewood saw five showings set on May 1st and 2nd alone.  With this week’s price reduction, I wouldn’t be surprised if it goes under contract quickly.

Listing agents are expected to take extra precautions to protect the health of both buyers and sellers under the “safer-at-home” guidelines. For example, there can be no overlapping showings, and only 3 persons (typically two buyers and their agent) are allowed in a listing at one time. Our showing service, ShowingTime, is enforcing these rules by not allowing overlapping showings to be set.

As a listing agent, it is my responsibility to sanitize a home between showings, which I do by using Clorox wipes on all hard surfaces that visitors might touch, such as door handles and light switches. I leave the lights on and most doors, including closet doors, open or ajar, so that touching them is minimized. If the home is not vacant, sellers can perform these safety functions themselves.

Buyers and their clients are asked to wear face masks and gloves and to wear booties, which they’re asked to take with them when they leave. By following these guidelines, agents and their clients can feel as safe as, or safer than, for example, at a supermarket.

How Golden Real Estate Is Coping With COVID-19 Guidelines

We and our partners in real estate continue to work while adapting to the COVID-19 guidelines for physical distancing, minimized travel, and more. Inspectors are still inspecting, but they don’t want buyers or agents in the house with them. Title companies are still doing their title searches and conducting closings, albeit with attention to sanitizing rooms and some physical distancing. Mortgage companies are still doing their jobs, as are the appraisers they hire.

Meanwhile, real estate brokers like us are still showing homes, writing contracts, negotiating inspection issues just as we always have — that is, by phone and email — and going to closings, although even that could be more virtual, now that Gov. Polis has issued an executive order saying that Notaries can work virtually.

What’s different is the cancelation of all kinds of meetings, open houses, and in-person continuing education classes (which are still available online). 

That keeps us all at home, which is where most brokers work anyway, but with fewer reasons to leave.  I’m walking the dog more than ever.  My Apple watch tells me that I completed all three activity rings last week.  Woohoo!

Bottom line: I’m sort of liking this, although I do look forward to getting back to normal.