Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
Good morning, fellow real estate data nerds! As of 21 Oct 2023, here are the market’s vital stats for single family homes (SFH): Let’s unpack these a bit. How we read this is: the average closed price for the month of October is $565K, median is $485K. Averages days on market are 39.6 and median […]
Predicting the short term direction of the market.
Tackling wicked problems isn’t a straight-line equation; it demands a blend of creative ingenuity, collective brainstorming, and agile adaptability.
The real estate market in Colorado Springs has been a subject of interest for both investors and homebuyers. While many factors influence home prices, one less-discussed variable is the M2 money supply. M2 includes a broad spectrum of financial assets, such as cash, checking deposits, and easily convertible near money. Understanding the correlation between M2 […]
There are a LOT of what if’s in this question. There is no one size fits all answer here. Instead, let’s look at it from a top down perspective. First, you cannot time the market. There are simply too many variables (I say this, too, as a programmer with some working knowledge in statistics, markets […]
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 […]