Real Estate Advisor-January 2020 Market Report Courtesy of Land Title Guarantee CO.
Market Analysis % Change 2020 vs 2019: Monetary volume ($98,820,800) in January 2020 was down 13% from January 2019. Transactions (134) were down 3% from January 2019. Opportunity time for Buyers!
Comparative Historical Cost Analysis; Average Indicators for $: Single Family -15%, Multi- Family +12% and Vacant Land -46%. Median Indicators for $: Single Family +0%, Multi- Family +18% and Vacant Land -36%.
Luxury Market is Still keeping pace; -YTD '20 28 properties sold for a $1M and over -YTD '19; 23 properties sold at $1M and over -YTD '18; 17 properties sold at $1M and over.
Time on Market; This is holding steady again. Median days on Market for February '19 was at 34, May was down to 15. October crept back up to 34. January was 31 days. Average days has remained at 60. This is an opportunity to negotiate. Best conditions in years for Buyers!
Buyer Demographics; -Front Range; 48%, -Local including relocating; 25% -Out of State; 27% -International; 0%. 28% of transactions were Ca$h.
Inventory is 461 total units listed for sale right now. Pretty low again. At this time of year sellers are motivated. The time has never been better, what is holding you back?!