Real Estate Advisor-Oct '17 Market Report Courtesy of Land Title Guarantee CO.
Market Analysis % Change Year over Year 2016 vs 2017: The month of September showed some slowing. This is probably due to lack of supply, our listing are down below 400 and still dropping! Monetary volume ($159,591,700) in September 2017 was down 8% from September 2016. Transactions (248) were down 16% to September 2016. YTD 2017, monetary volume is up by 20% and transactions are up 4% compared to YTD 2016.
Comparative Historical Cost Analysis: -Average Indicators for $: Single Family +15%, Multi- Family +13% and Vacant Land -2%. -Median Indicators for $: Single Family +18%, Multi- Family +11% and Vacant Land -10%.
Luxury Market Maintains growth; -YTD 2017; 244 properties sold for a $1M and over. -YTD 2016; 150 properties sold at $1M and over. -YTD 2015; 140 properties at $1M and over. That’s almost double in two years!
Time on Market; Demand is still in a frenzy as median days on market has held steady; it was 25 days for December 2016 and only 18 days in September '17. List it and sell it fast, it may never be this good again.
Buyer Demographics; -Front Range; 42% -Local including relocating; 22%. -Out of State; 36%. -International; 0%. -36% of the real estate closing$ were ca$h tran$action$.
The market is Red Hot. Join the Property Appreciation Party. We still have tremendous demand and only 350 current listings. Now is the time to buy before price go higher!
There may never be a better time. Call me now.