Real Estate Advisor-October 2019 Market Report Courtesy of Land Title Guarantee CO.
Market Analysis % Change 2019 vs 2018: Monetary volume ($183,940,073) in September 2019 was up 14% from September 2018. Transactions (245) were down 5% in from September 2018. YTD 2019 Monetary Volume is pacing 6% ahead of YTD September 2018, and transactions are down 9%. Rising prices are why these numbers look like this. Get in on the appreciation party.
Comparative Historical Cost Analysis 2019 vs 2018: Average Indicators for $: Single Family +14%, Multi- Family +8% and Vacant Land -12%. Median Indicators for $: Single Family +8%, Multi- Family +10% and Vacant Land -14%.
Luxury Market is the hottest segment of the market; -YTD '19 313 properties sold for a $1M and over -YTD '18; 272 properties sold at $1M and over -YTD '17; 244 properties sold at $1M and over.
Time on Market; This is trending upwards. Median days on Market for February '19 was at 34, May was down to 15. October crept back up to 33. Average days has gone to 55 which means things may be slowing a little bit. This is an opportunity to negotiate.
Buyer Demographics; -Front Range; 43%, -Local including relocating; 28% -Out of State; 29% -International; 0%. 29% of transactions were Ca$h.
We are over 650 properties on the market, a great selection is out there right now. If you haven't seen what you want before it may be available now. Take another look. Find your dream in The Rockies!