Real Estate Advisor-March '17 Market Report

Market Trends

Courtesy of Land Title Guarantee CO.

Market Analysis % Change Year over Year 2016 vs 2017: Monetary volume ($71,152,600) in February 2017 was 6% higher compared to February 2016. Transactions were down by 8%. YTD 2017, monetary volume is up by 25% and transactions are up 2% compared to YTD 2016.

Comparative Historical Cost Analysis -Average Indicators for $: Single Family +24%, Multi- Family +5%, Vacant Land +2% -Median Indicators for $: Single Family +16%, Multi- Family +5% and Vacant Land +3%.

Luxury Market continues to improve; -YTD 2017; 37 properties sold for a $1M and over -YTD 2016; 19 properties sold at $1M and over -YTD 2015 properties at $1M and over. That’s double in two years!

Time on Market; Demand is steady but days on market has creeped up; it was 18 days in June '16, 17 days for Oct., 25 days for December and 30 days in Feb '17.

Buyer Demographics for 2016; *Front Range buyers=45% *Locals including those relocating here full time=29% *Out of state buyers=25% *International=1%

Notes from the latest Fed meeting indicates interest rates will most likely  increase even faster than previously predicted this year. We have already seen a .5% rise. Couple that with rising prices and waiting is expensive.

The next few months should see the largest inventory of the year so now is the time to start looking for that dream property.

There has never been a better time to buy. Call me now.

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