Real Estate Market Update January 2018

January 2018 Activity Snapshot

Percent changes calculated using year-over-year comparisons.

New Listings were down 24.1 percent for single family homes and 36.2 percent for townhouse-condo properties. Pending Sales increased 63.6 percent for single family homes but decreased 8.3 percent for townhouse-condo properties.

The Median Sales Price was up 8.4 percent to $587,800 for single family homes and 18.6 percent to $400,000 for townhouse-condo properties. Days on Market decreased 21.8 percent for single family homes and 24.0 percent for townhouse condo properties.

Whatever external forces are placed upon residential real estate markets across the country – whether they are related to tax legislation, mortgage rates, employment situation changes, new family formations, the availability of new construction and the like – the appetite for home buying remains strong enough to drive prices upward in virtually all markets across the country.

New sales are not necessarily following that trend, but monthly increases are expected until at least late summer.

Activity Snapshot

+ 5.5% - One-Year Change in One-Year Change in Sold Listings

+ 9.9% - One-Year Change in Median Sales Price

- 34.7% One-Year Change in Active Listings

Residential real estate activity in zip codes 80487, 81639 and 80467,
comprised of single-family properties, townhomes and condominiums.
Percent changes are calculated using rounded figures.

Single Family Market Overview

Key metrics by report month and for year-to-date (YTD) starting from the first of the year

-24.1%

New Listings

1-2017 : 29

1-2018 : 22

+63.6%

Pending Sales

1-2017 : 11

1-2018 : 18

+7.1%

Sold Listings

1-2017 : 14

1-2018 : 15

 

+8.4%

Median Sale Price

1-2017 : $542,500

1-2018 : $587,800

+11.7%

Average Sales Price

1-2017 : $610,643

1-2018 : $681,813

-21.8%

Days On Market

1-2017 : 142

1-2018 : 111

-6.3%

Housing Affordability Index

1-2017 : 63

1-2018 : 59

-22.4%

Active Listings

1-2017 : 174

1-2018 : 135

-25.8%

Months Supply 

1-2017 : 6.6

1-2018 : 4.9

Townhouse-Condo Market Overview

Key metrics by report month and for year-to-date (YTD) starting from the first of the year.

-36.2%

New Listings

1-2017 : 69

1-2018 : 44

-8.3%

Pending Sales

1-2017 : 36

1-2018 : 33

+4.9%

Sold Listings

1-2017 : 41

1-2018 : 43

 

+18.6%

Median Sale Price

1-2017 : $337,228

1-2018 : $400,000

-6.1%

Average Sales Price

1-2017 : $452,693

1-2018 : $425,105

-24.0%

Days On Market

1-2017 : 100

1-2018 : 76

-14.9%

Housing Affordability Index

1-2017 : 101

1-2018 : 86

-40.3%

Active Listings

1-2017 : 385

1-2018 : 230

-46.4%

Months Supply 

1-2017 : 8.4

1-2018 : 4.5

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