Real Estate Advisor—July 2019 Market Report Courtesy of Land Title Guarantee Co..
Market Analysis % Change 2019 vs. 2018: Monetary volume ($168,936,493) in July 2019 was up 12% from July 2018. Transactions (218) were up 3% from July 2018. YTD 2019 monetary volume is pacing 6% ahead of YTD July 2018, and transactions are down 8%.
Comparative Historical Cost Analysis:
Average Indicators for $:
- Single Family: +12%
- Multi-Family +7%
- and Vacant Land -10%.
Median Indicators for $:
- Single Family: +4%
- Multi-Family: +9%
- and Vacant Land -13%.
The luxury market remains red hot!
- YTD '19: 209 properties sold for $1M and over
- YTD '18: 179 properties sold at $1M and over
- YTD '17: 170 properties sold at $1M and over.
Time on Market: This is trending upwards. Median days on market was only 13 days in July '17 and dropped to an amazing median of 11 days on market for April 2018. February '19 was up to 34, but July came in at 16, still excellent. The average days have gone up to 43, which means 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: 34%
- Out of State: 36%
- International: 0%. 33% of transactions were cash.
We are still hovering around 800 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!
