What is selling in the region?
Thirty seven percent of these homes sold the last 30 days were built in the last 5 years.
Market activity last 30 days
In a previous post, I mentioned the ratio of withdrawn/expired homes to homes sold. This line of thought prompted me to ask, where are things selling? Where are the inactive homes? Here’s quick heatmap of the last 30 days of activity. Green is sold, red is withdrawn/expired. https://s3.us-east-2.amazonaws.com/www.robthompson.dev/heatmap.html More on this soon!
Introducing the (updated) FPVI (Future Property Value Index)
Predicting the short term direction of the market.
Jul 2023: Market hits a wall?
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 […]
Pikes Peak Region: June 2023
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 […]
Mid-Month State of the Market Colorado Springs Region
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; […]
Is Cash King in Colorado Springs – 8 Jun 2023 Edition
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 […]
30 day report — PPAR region
Here’s a quick look at where we stand right now for the last 30 days in the PPAR region. The big takeaways right now are:
May 2023 YoY average price down 3.49%
The average price for May 2023 was down 3.49% from May 2022 in the Pikes Peak region. What you see below is the year over year gain / loss since 1996. This is the first down May since 2014.
May 2023 sales down 32.1% from 2022
As we enter into the last week of May 2023, we are tracking at 67.9% of last year’s sales numbers for the same period of time (May 1st through 24th). It’s likely we will close at 2013 – 2014 levels. We are also selling about -3.35% for average home prices. I honestly expected a bigger […]