Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
January 2023 sales numbers closed out down 35% vs. January 2022. This is about 5 to 8% better than I expected. It will be interesting to watch February to see if the upward trend (relative to the down months of last quarter) holds.
Curious about our market and the types of sales therein? Checkout the map plot that shows the ‘big 4’ purchase types across the region since Oct 1, 2022.
It’s often said “Cash is King”. What does this mean? It usually means two things. One, the belief that cash will usually win the offer. Two, cash tends to win at a discount due to its relative ease. What ease, you may ask? Cash purchases don’t require appraisals as a condition of financing, which reduces […]
Eleven days into the new year, the number of sales is at 43.2% of this time last year. Or, down 56.8%. Do what you do and do it well but it’s important to acknowledge the reality of the market, too. Sales are down.
Banning Lewis Ranch is currently the top selling subarea in town by number of sales in the last 30 days. The average closed price in BLR is $481,396. The median closed priced price is $475,000. The average days on market is 6.09 and the median is 29. Homes are selling at 5.86% under the original […]
The average home price in the Pikes Peak Association of Realtors® region is down 17.57% from the peak in May. This is based on a 14 day rolling average. Homes are currently closing down 6.33% from their original list price, as measured for the last 30 days. The absorption rate – the measure of homes […]
We closed 70 homes regionally yesterday bringing the year end tally to 52.8% of last year’s sales numbers, or down 47.2%. What’s next? I expect based on the historical trend January to be significantly slower than December. February has typically picked up for sales numbers (see below). I suspect the trend will hold their, too, […]
At the time of this writing, the regional sales volume is down 47.1% this year from the same timeframe last year. I expect we will see around 65 or 70 closings today. If we do, this will put us around 47.5% off of last December. What does this mean for sellers? Expect more days on […]
Month to date, the number of sales in the PPAR region is down 48.6% for the same time last year (month to date). Projecting an end of month slight surge, I expect we will close out around 45-46% down from last year.
There is a .9 correlation between the M2 money supply and median pricing in the PPAR region over the last 26 years through October of this year. That is a high level of correlation, indicating a strong relationship between the two. By contrast, the R2 for interest rates to median pricing is .43. The R2 […]