It was a matter of time given market conditions before the data showed a trend we’ve been feeling here in Colorado Springs.

Check this out. For the month to date November 2024, the Closed to Original List Price Ratio – the measure for what homes are closing at relative to their original list prices – I’m tracking an average of 90.31%. Another way to say this is for November to date homes are selling down nearly 10% from the original list price.

Why is this important? Check out the number to the left. That’s the Closed to List Price Ratio most agents and consumers look at. That’s a measure of what these same homes closed at relative to their list price at the time of closing. This doesn’t factor in price drops from point A to B.

Bottom line: buyers are getting a lot off of original list price right now.