Home sales dip and inventory rises for 1st quarter
Most homeowners and buyers got a 1st quarter home inventory surprise! For most of the market, home inventory rose in March 2018 vs. 2017, and first quarter home sales were generally lower than last year. Check out the Denver metro area and your city, county or neighborhood market statistics here:
The Rowley Group breaks down active listings, under contract listings, and sold listings by price range, so it is easy to pinpoint what is happening in your local market. Information may be king, but it is the presentation of data that provides meaningful questions and conclusions upon which to act.
Would you like to see how close the neighbors’ sold prices were to list price and/or original list price? Would you like to see average days on the market and months of inventory to assess the competition? We have it all. OK, we almost have it all. There are so many neighborhoods and subdivisions that we cannot provide them all, but to add yours, send me a note at firstname.lastname@example.org or text Gary Rowley at 303-717-5612 to add your neighborhood.
This is the first time that we have seen monthly home inventory increase in a long time, albeit it is a small increase. There are several factors contributing to the change including: rising interest rates, wages that struggle to support our housing prices, etc. On the positive side, the rate changes have been minor, there are caravans of people moving here from high-tax states like California, we have a very robust front range economy with extraordinarily low unemployment.