Median Indicators for $:
- Single Family +4%,
- Multi- Family +8%
- and Vacant Land -14%
The luxury market is bouncing back big time!
- YTD '19: 104 properties sold for $1M$ and over.
- YTD '18: 80 properties sold at $1M and
- YTD '16: $1M properties sold at $1M and over.
Time on Market: Demand is recovering slightly; 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 was up to 34, but April is back down to 14! Average days have stayed up at 43, which means the properly priced homes are selling quickly and many other people are pushing the market hard.
Buyer Demographics:
- Front Range: 39%, back down from last month's high
- Local, including relocating: 27%
- Days on the market: 35%
- International: 0%. 33% of transactions were cash.
With 560 properties on the market right now, cash is king. Choices are improving. But the good ones go fast. Choose, keep your eyes open, and be ready when you see the one you want.
