Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
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 […]
We are over halfway through December and here’s where we stand right now. Sales volume is down 48.1% over this time last year (measuring the first nineteen days of both years). The bar chart below shows the total volume of sales by December since 1996 in blue. The red line is where we were sales […]
Here’s a snapshot of the last 26 years of volume of sales and average pricing. We hit an all time high in May of this year for pricing and have come down about 12.48% from that peak at the time of this blog post. Above is the ’30 day snapshot’. Two big takeaways: the market […]
We closed out November 2022 with the sharpest November to November decline in the last 26 years, closing 55.1% of the number of sales vs last year. Or, a decline in the number of sales by 44.9%. What does this mean for sellers? Expect more days on the market and increasing competition. For people looking […]
As we close in on the end of November, let’s take a look at the sales volume for the month. What you see below is the running history of November sales volume since 1996. The red line is where we were for November 28, 2021. We are currently selling at 53.6% of that volume, or […]
We are tracking about 47.5% under last year’s volume of sales right now. I suspect we will close out around 40% down. These rates combined with the pricing have clobbered the market right now.