Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
Here’s a quick look at the last five years worth of sales in the region. This is the month to month number of sales for the last 60 months. It’s a rough year for agents, sellers and lenders. Buyers, too, though those that can afford to buy have a lot more choice. Here is the […]
April 2023 has seen the largest drop in number of sales since at least 1996. We are tracking about 35.8% down from last April. The price drop from last year is -5.59%. This begs the question…why aren’t prices falling? Inventory. The low inventory is helping hold the floor against price drops. What’s next? All things […]
I’ve been curious for a bit about what pricing might have looked like had the pandemic not hit. As you probably know, the Fed injected trillions of dollars into the economy over the years since Corona. This is in addition to the trillions injected in multiple waves of Quantitative Easing from 2008 through 2014. What […]
We are closing for the month of March 2023 at an average of 501K with 46.86 days on the market. Homes are closing on the average at 3.1% below original list price. Sales are down 29.2% from this time last year and we have 1.53 months worth of homes on the market. Data extrapolated from […]
This morning’s graph is a representation of the average Days on Market (DOM) for closed homes by month over the last decade. As you can see below, we are back over over the last several months or so to around 2015 territory. Inventory in the area remains low (less than two months) which is helping […]
Why does this matter? When you take out a mortgage to buy a house, you are essentially borrowing a large sum of money from a bank or other financial institution, which you agree to pay back over a long period of time with interest. The interest rate on your mortgage is the cost of borrowing […]
Running the numbers today…as of 21 March 2023, sales are at 69.3% of last year’s volume of sales. Stated another way, the number of sales is down 30.7% from last year. That puts us around a projected 2015 levels of sales for the month.
Three percent is often cited as the historical annual appreciation of housing. Let’s take a look at the last seventeen years and how the Springs as a region measures against that percentage. What you see in the line chart below is that hypothetical / projected 3% since 2006 based on the average price of a […]
What you see here is a scatterplot mapping the average monthly closed price of a home in the Colorado Springs region alongside the M2 money supply. What is the M2? The M2 is a measure of how much money is available for people to spend and invest in an economy. It includes all the physical […]
