Real Estate Advisor-March 2018 Market Report Courtesy of Land Title Guarantee CO.
Market Analysis % Change February 2018 vs 2017, We are ahead of last year's record pace: Monetary volume ($89,403,682) in February 2018 was up 26% from February 2017. Transactions (139) were up 20% from February 2017. YTD 2018 monetary volume is up 9% from YTD 2017, and transactions are up 12% YTD 2018 compared to YTD 2017.
Comparative Historical Cost Analysis; -Average Indicators for $: Single Family +5%, Multi- Family +13% and Vacant Land -4%. -Median Indicators for $: Single Family +9%, Multi- Family +11% and Vacant Land -14%.
Luxury Market Takes a Breather; -YTD '18; 34 properties sold for a $1M and over -YTD 2017; 37 properties sold at $1M and over -In January 2016; 19 properties at $1M and over.
Time on Market; Demand is still berserk, it was 25 days for December 2016, only 13 days in July '17 and down to a median of 11 days on market for February 2018. That means half of all properties that come on the market sell in just over a week. Move quickly if you see something you like, it's not going to wait for you. Buyer Demographics; -Front Range; 42% -Local including relocating; 21% -Out of State; 35% -International; 2% Most International buyers in a year. *44% of the real estate closings were ca$h tran$action$, a big #! People cashing in on their stocks?
The market is Red Hot. Join the Property Appreciation Party.