Year-End '17 Market Report Courtesy of Land Title Guarantee Co.
Year-end totals for monetary volume surpass all numbers since we have been tracking, and transactions have not been this high since 2007!
Market Analysis % Change Year over Year, 2016 vs. 2017:
Back to Rocking and Rolling! Best year in history! Monetary volume ($153,007,686) in December 2017 was up 25% from December 2016.
Transactions (230) were up 13% from December 2016. Year-end 2017:
Monetary volume is up by 18%, and transactions are up 5% compared to YTD 2016.
Comparative Historical Cost Analysis:
Average Indicators for $:
- Single Family: +16%;
- Multi-Family: +16%;
- and Vacant Land: -8%
Median indicators for $:
- single-family homes: +18%;
- multi-family: +17%;
- and vacant land: -8%.
Luxury Market Maintains Growth:
- In 2017, 342 properties sold for $1M and over.
- In 2016, 225 properties sold at $1M and over.
- In 2015, 198 properties sold for $1M and over.
- That's up 72% in two years!
Time on Market:
Demand is still very strong; however, median days on the market is hovering higher. It was 25 days for December 2016, only 13 days in July '17, and 28 days in November '17. Move quickly if you see something you like; it's not going to wait for you.
Buyer Demographics:
- Front Range: 40%
- Local, including relocating: 28%
- Out of State: 32%
- International: 1%.
- 34% of the real estate closings were cash transactions.
The market is red hot. Join the Property Appreciation Party.
See the 30-Year Average Appreciation History
We still have tremendous demand and only about 300 current listings. In 25 years, I have never seen so few listings. Now is the time to buy before the price goes higher!
There may never be a better time. Call me now.
See the complete report from Land Title
