Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
Let’s take a look at ‘as is’ sales in the region. I came across a thread on Facebook today asking if people needed to make upgrades in the market right now or if they could sell ‘as is’. This prompted me to dig into the numbers. Year to date, there have been 9,343 homes sold […]
July 2023 is looking kind of rough for the PPAR region. Number of sales is down 44.58% halfway through the month. Our closed to original price ratio – the measure of the average price at which homes are closing against the original list prices – is down 7.51%. We are down 10.35% from the peak […]
As we roll into July, let’s take a look at where June 2023 has closed out. Here we see the year over year change in pricing from June to June since 1996. We can see last month was a gain in value of 1.43% over the preceding June (2022). Interestingly, this is the second lowest […]
As we hit the midway point for June 2023, here’s where we stand: What does all of this mean for the market? Inventory is keeping prices from falling. This is likely to remain the case so long as the Fed continues backstopping the market and the demand there is out there doesn’t fall off. TLDR; […]
Cash is king, the mantra goes. But is it true? Let’s take a look at Colorado Springs year to date. What you see below is the breakout of purchase types by number of sales and their closed to list price ratios. The way to read this is as follows: Cash is commanding a 1.75% discount […]
Here’s a quick look at where we stand right now for the last 30 days in the PPAR region. The big takeaways right now are:
The average price for May 2023 was down 3.49% from May 2022 in the Pikes Peak region. What you see below is the year over year gain / loss since 1996. This is the first down May since 2014.
The relationships between variables that impact the market is fascinating to me (I am, admittedly, a bit of a data nerd). What you see here is the interplay between the M2 money supply, median pricing and the 30 year mortgage interest rates since 1996. TLDR; if you want to know where home prices are going, […]
As we enter into the last week of May 2023, we are tracking at 67.9% of last year’s sales numbers for the same period of time (May 1st through 24th). It’s likely we will close at 2013 – 2014 levels. We are also selling about -3.35% for average home prices. I honestly expected a bigger […]
Here’s a look at the last ten years in the Colorado Springs region. What you see here is a look at the number of sales and the average pricing over that same period. We are tracking around 2015 levels of activity right now.