Our active homes on the market are down to 300, unprecedented. Your home will stand out like never before. List now and move in the spring. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase this year. No telling how this will affect the market.
See the complete report courtesy of Land Title Guarantee Co.
Market Analysis % Change Year over Year 2015 vs. 2016
Monetary volume ($122,880,919) in December 2016 was 13% lower compared to December 2015. Transactions were down by 26%. This is more than likely due to record-low inventory available in December 2016.
Comparative Historical Analysis
- 2016: There were 2,087 residential transactions and a $1,210,067,633 volume.
- 2015: There were 2,100 transactions and $1,148,024,568 in gross volume.
- 2014: There were 1,731 transactions with $858,667,681 gross volume.
This is a 40%+ jump in just two years. The recovery has been good to us.
The luxury market continues to improve: 225 properties sold for $1M and over, compared to 2015, when 198 properties sold for $1M and over. In 2014, 126 properties sold at $1M and over. That's nearly double in two years!
Time on Market: Demand is still steady as days on market fell from a median of 81 for February sales to just 24 for May sales, 18 days in June, 17 for Oct., and still strong at 25 DOM for December.
Buyer Demographics for 2016:
- Front Range buyers = 38%
- Locals, including those relocating here full-time = 30%
- Out-of-state buyers = 32%
