Breaking News – months of inventory has dropped significantly signifying an uptick in real estate activity along the Front Range.‘Months of inventory’ is an important statistic and something we commonly talk about in this blog. It simply measures how long it would take to sell all of the homes currently for sale at the current pace of sales. As a reminder, a market is ‘balanced’ when there is four to six months of inventory on the market. During the fast-paced market of June 2020 to June 2022, this statistic dropped to less than one month. During the market cooling of last Winter, it increased to over two months. Now, it is back to nearly one month of supply signaling a clear seller’s market. Of course, all markets are hyper-local and this number can vary based on specific price point and specific location. However, looking at ‘months of inventory’ from a big picture view, offers a good understanding of overall market conditions. Here is what months of inventory is for each Front Range market: Larimer County = 1.3 Months Weld County = 1.2 Months Metro Denver = 1.1 Months
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Fun Facts • April 7, 2023
by Natalie Parsons
Other Not What Many Thought Despite higher interest rates, prices did not decrease like many people thought. They certainly have not crashed like many thought. Average prices along the Front Range have seen only a slight decrease versus last year. The average price in May this year has decreased versus May of last year by: 2.5% in Larimer County […]
Fun Facts Months of Supply As measured by months of supply, we have a strong Seller’s market in Northern Colorado. Both Larimer County and Weld County measure at 1.6 months of supply. That means, at the current pace of sales, it would take only about 6 weeks to sell all of the existing homes for sale. The measurement becomes even […]
Fun Facts More News Nationally, new home inventory as a percentage of the total inventory just hit a record high. 26% of all properties currently available for sale are brand new homes. To put this in perspective, in 2018 it was 14%. From 2000 to 2008 it bounced between 10% and 15% Locally, we notice even higher numbers. In […]