Year End '17 Market Report Courtesy of Land Title Guarantee CO.
Year end totals for monetary volume surpass all numbers since we have been tracking, and transactions have not been this high since 2007!
Market Analysis % Change Year over Year 2016 vs 2017: Back to Rockin and Rollin! Best year in History! Monetary volume ($153,007,686) in December 2017 was up 25% from December 2016. Transactions (230) were up 13% from December 2016. Year End 2017: monetary volume is up by 18% and transactions are up 5% compared to YTD 2016.
Comparative Historical Cost Analysis: Average Indicators for $: Single Family +16%, Multi- Family +16% and Vacant Land -8% -Median Indicators for $: Single Family +18%, Multi- Family +17% and Vacant Land -8%.
Luxury Market Maintains growth; -In 2017; 342 properties sold for a $1M and over -In 2016; 225 properties sold at $1M and over -In 2015; 198 properties at $1M and over. That’s up 72% in two years!
Time on Market; Demand is still very strong, however median days on market is hovering higher; it was 25 days for December 2016, only 13 days in July '17 and 28 days in November '17. Move quickly if you see something you like, it's not going to wait for you.
Buyer Demographics; -Front Range; 40% -Local including relocating; 28% -Out of State; 32% -International; 1%. -34% of the real estate closings were ca$h tran$action$.
The market is Red Hot. Join the Property Appreciation Party.
We still have tremendous demand and only about 300 current listings. In 25 years I have never see this few listings. Now is the time to buy before price go higher!
There may never be a better time. Call me now.