Real Estate Advisor—October 2018 Market Report Courtesy of Land Title Guarantee CO.
Market Analysis % Change September 2018 vs. 2017: Breaking more records: Monetary volume ($161,902,700) in September 2018 was up only 1% from September 2017. Transactions (259) were up 4% from September 2017. YTD 2018 monetary volume is up 11% from YTD 2017, and transactions are up 2% YTD 2018 compared to YTD 2017. Higher prices continue to fuel the surge. Get in soon or you may be priced out.
Comparative Historical Cost Analysis:
Average Indicators for $:
- Single Family: 3%
- Multi-family +9%
- and vacant land: +14%.
Median Indicators for $:
- Single Family +6%,
- Multi-Family +8%
- and vacant land is +16%.
The Luxury Market Explodes Big Time! ;
- YTD '18: 272 properties sold for $1M and over
- YTD 2017: 208 properties sold at $1M and over
- YTD 2016: 121 properties sold at $1M and over.
Time on Market: Demand is still crazy; the 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. August has crept up to 17! Move quickly if you see something you like; it's not going to wait for you.
Buyer Demographics;
- Front Range; 41%,
- Local, including relocating: 35%
- Out of State: 23%
- International: 0%.
- 26% of transactions were cash.
The market continues on a record pace! How long can you wait? Interest rates and prices are creeping up and predicted to go higher.
