Real Estate Advisor-September 2019 Market Report Courtesy of Land Title Guarantee CO.
Market Analysis % Change 2019 vs 2018: Monetary volume ($239.126,600) in August 2019 was up 1% from August 2018. Transactions (261) were down 18% in from August 2018. YTD 2019 Monetary Volume is pacing 5% ahead of YTD August 2018, and transactions are down 10%.
Comparative Historical Cost Analysis; Average Indicators for $: Single Family +14%, Multi- Family +8% and Vacant Land -10%. Median Indicators for $: Single Family +7%, Multi- Family +10% and Vacant Land -14%.
Luxury Market remains hot but pace slowing slightly; -YTD '19 263 properties sold for a $1M and over -YTD '18; 234 properties sold at $1M and over -YTD '17; 208 properties sold at $1M and over.
Time on Market; This is trending upwards. Median days on Market was an amazing median of 11 days on market for April 2018. February '19 was up to 34 but August came in at 22, still excellent. Average days has gone up to 52 which means the some homes are selling quickly and many other places are sitting. This is an opportunity to negotiate.
Buyer Demographics; -Front Range; 39%, -Local including relocating; 26% -Out of State; 35% -International; 0%. 34% of transactions were Ca$h.
We are still hovering over 750 properties on the market. This means new listings are coming on consistently. If you haven't seen what you want before it may be out there now. Take another look. Find your dream in The Rockies!