Real Estate Advisor-April '17 Market Report Courtesy of Land Title Guarantee CO.
Market Analysis % Change Year over Year 2016 vs 2017: Monetary volume ($123,142,000) in March 2017 was 43% higher than March 2016. Transactions were up by 31%. YTD 2017, monetary volume is up by 32% and transactions are up 12% compared to YTD 2016. We are potentially looking at a record year for local real estate.
Comparative Historical Cost Analysis -Average Indicators for $: Single Family +30%, Multi- Family +10%, Vacant Land +14% -Median Indicators for $: Single Family +47%, Multi- Family +7% and Vacant Land +16%.
Luxury Market Surges to new highs; -YTD 2017; 70 properties sold for a $1M and over -YTD 2016; 33 properties sold at $1M and over -YTD 2015 28 properties at $1M and over. That’s nearly triple in two years!
Time on Market; Demand is in a frenzy as median days on market has plummeted again; it was 18 days in June '16, 17 days for Oct., 25 days for December and 14 days in March '17.
Buyer Demographics for 2016; *Front Range buyers=40% *Locals including those relocating here full time=29% *Out of state buyers=30% *International=1%
The next few months will see our largest inventory of the year. Contact me today and I can help you find your dream home quickly. By the time you see it on Zillow it's probably gone.