Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
One of my favorite measures of the market is the closed price to list price ratio (CPLP). That is, the measure of how much above or below list price people are paying for homes. Right now, we are sitting at 1.028, or 2.8% above list price on average. I do think with the rate activity […]
Here’s where the market stands as of 3 June 2022. Of note, we have added about 5 days of inventory in the last couple of weeks.
Check these out. The graph on the right is five weeks ago and represents the 30 days prior to April 20th, 2022. The graph on the right was generated today 29 May 2022 and represents the previous 29 days. Inventory increased just over 2x in the top selling subarea of Banning Lewis Ranch while sales […]
Here’s a quick look at our market month to date. We are averaging $537K with just about nine days on the market. Cash is a smidge above 25% of the market, running about 6% above FHA, giving VA a run for its money at 26.6% and Conventional is leading at 29.1%. Banning Lewis Ranch continues […]
A tale of one market at two points in time. What you see here is a snapshot of the Colorado Springs region median income from 2005-2008 (green) below the same measure from 2019-2022 (orange). Above these you see the average pricing from 2005-2008 (blue) and above that is the same measure from 2019-2022 (gray). The […]
Here are the top 10 zip codes by price range for 2022. This is not filtered for volume of sales.
Curious about the Colorado Springs market? Here are the top 10 zip codes by number of sales YTD. Also shown is in the average price point for the zip code. 80925, east of Fort Carson and South of Peterson, leads the pack with a little under 350 sales and an average price of $473K.
In a market that is selling for 4% above list price on the average, how important is pricing your home? With such low inventory and high demand, does list price matter? In a word: YES. There is a 5.7% difference in the average closed to list price of homes from their first to their fifth […]
The absorption rate – abs rate – is a measure of inventory. How long will it take to “absorb” the current inventory? Below is a chart that displays as a function of comparing the closed and active listings the abs rates of the top 10 subareas by volume of sales over the last 30 days. […]
The R2 for the M2 money supply to median pricing .89. What does that mean? There is a high level of correlation between these data points. More so than interest rates, active number of homes, number of new listings. If you want to see where home prices are going, watch the M2.