Real Estate Advisor - October 2019 Market Report
Courtesy of Land Title Guarantee CO.
Market Analysis % Change 2019 vs 2018: Monetary volume ($183,940,073) in September 2019 was up 14% from September 2018. Transactions (245) were down 5% from September 2018. YTD 2019 Monetary Volume is pacing 6% ahead of YTD September 2018, and transactions are down 9%. Rising prices are why these numbers look like this. Get in on the appreciation party.
Comparative Historical Cost Analysis 2019 vs 2018
Average Indicators for $:
- Single Family: +14%
- Multi-Family: +8%
- Vacant Land: -12%
Median Indicators for $:
- Single Family: +8%
- Multi-Family: +10%
- Vacant Land: -14%
Luxury Market Is the Hottest Segment of The Market;
- YTD '19: 313 properties sold for $1M and over.
- YTD '18: 272 properties sold for $1M and over.
- YTD '17: 244 properties sold for $1M and over.
Time on Market; This is trending upwards. Median days on Market for February '19 was at 34; May was down to 15. October crept back up to 33. Average days has gone to 55, which means things may be slowing a little bit. This is an opportunity to negotiate.
Buyer Demographics
- Front Range: 43%
- Local (including relocating): 28%
- Out of State: 29%
- International: 0%
- 29% of transactions were cash.
We have over 650 properties on the market; a great selection is out there right now. If you haven't seen what you want before it may be available now. Take another look. Find your dream in The Rockies!
