Market Update | January 2018

Happy New Year and welcome to the January 2018 Market Update presented by the Altitude Group.

Let’s take a look at how the market performed last month…

December Statistics courtesy of ReColorado

Homes sales were down by 13% in December compared to December of 2016.

New listings were down year over year by 4% meaning less people put their homes on the market in 2017 compared to the previous year.

Active listings, in other words, listings available on the market, were also down by 6% compared to November.

The prevailing headline is still all about “inventory shortages.”
Here’s the rub, if you’re a homeowner it’s all good news: the average sales price for a home is up across the metro area by a whopping 12%!

The average sales price is now over $443,000!

Buyers, you’ll be pleased to know that the average number of days a home was available actually went up, likely due to a seasonal slow-down, but market activity has picked back up, since the new year started.

There’s actually one week less inventory than there was last month!

Everyone's situation is unique, so if you've had any thoughts of buying or selling, call Chad Schneider at 720-767-2423 (CHAD) or Matt Thomas at 303-269-1617 to discuss what's best for you.