Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
What you see here is a correlation matrix. This chart shows the correlation coefficient between variables. I.e., it shows the relationship between the listed variables in a house. E.g., in the last 30 days there is a .52 correlation between the closed price of a home and the total number of baths. This is a […]
Thursday is the most popular day of the week over the last three years to list a home. Followed by Friday, Wednesday, Tuesday, Monday, Saturday then Sunday.
Data is awesome. Here are the weekly closed and original list prices over the last three years. Here I have included the list price (if modified). It’s pretty interesting to me to see the periods of time where the list prices were dropped. On my to do list is to analyze the lead / lag […]
I often see the question asked, “Is Colorado Springs a VA (loan) town?” With multiple bases in the area, the answer is, “Yes.” VA loans are the second most popular loan type in town, second to conventional. Here is the breakout of VA purchases by zip code YTD. Here is where folks are buying with […]
The market is cooling a bit. Inventory is up and the closed to list price ratio (a measure of how much above or below list price a buyer is paying) has come down on the average about 1-2%. What comes next? I think this slower market is going to be more the norm.
As we close out June 2022, nine of the top 20 subareas have more active listings than under contract, a distinct shift from 4-6 weeks ago. We are also closing out the month with about 37.2 days worth of homes on the market, up 13 days or so from one month ago.
As we move into the end of the month, here’s where we stand right now. Average pricing is down about $7K from one month ago, as is the closed to list price ratio (down from 2.85% above to 1.49%). We have 2,239 homes on the market vs 1,485 from the same month ago. Our 30 […]
Here is a quick snapshot of the top 20 subareas in the PPAR region, mapped in descending order by their number of sales in the last 30 days, followed by the count of active homes for sale and the number of homes under contract in the same. Why does this matter? Good question! It shows […]
I saw this morning someone post a generalized chart stating that real estate beats inflation. Let’s take a look at this locally. Below is about 22 years worth of average pricing, interest rates and inflation numbers. While real estate is largely tracking inflation the last couple of years, we do have a situation that hasn’t […]
There is a lot of talk right now and the market has been significantly impact in terms of showings, contracts (both of which are way down) due to the rise in interest rates. I wanted to share the ‘so what’ of these rates. Why are these so important? Let’s take a look at a $375K […]