Trends I'm Seeing
Some interesting changes in our market of late:
The average price and median price continue to increase, but inventory (the number of active listings) has increased for the first time in years.
The ratio of sales price to list price has decreased slightly, meaning sellers are getting slightly less at closing as a percentage of their list price.
The percentage of listings under contract has decreased.
Our market has not necessarily hit the top, but increased inventory may be slowing the frenetic pace a bit. Rising prices have hit a convincing level, encouraging more owners to offer property for sale. Also, new construction in eastern and northern Boulder County is offering buyers more options.
The market is still hot in most price ranges, and as usual, the lower the price range, the hotter the market. It's too early to tell if increased inventory will continue or if the market will cool, but I will monitor the stats and keep you informed. As always, don't hesitate to call if I can help you, your family or friends with real estate, even if you just have a question. Call me anytime. - Rich