Real Estate News: Investing in Colorado Properties

Our housing market has come to a typical cool down for the season. Active listings went from 7,156 in October to a 20.6% down of 5,683 active listings in November.

Now, it is important to be aware of the market trends on a month-to-month basis but it’s also equally important to pay attention to the year-by-year trends as it can show how the market is doing in the bigger picture. That being said, invetory in November 2015 has in fact gone up 4.85% from the 5,420 active listings on the market in November 2014.

Let’s go over a few more stats. The month-over-month detached single family home market had a steep drop of 39% in new listings but was eight percent more than November 2014. The condo market also showed a decrease of 34% from October to November but was up 25% from November 2014.

Some more great news for sellers is that there were less than a two month supply of unsold homes on the market in November and the closed sales volume year-to-date is $18.5 billion, a 14% increase from 2014!

The luxury market ($1 million or greater) is doing pretty well too. 61 homes closed in November, which was only down 3% compared to November 2014.

The closed dollar volume last month was about $94.32 million, down 33% from October and up 3.7% from November 2014. There is almost 13.7 months of inventory in this price point in Douglas County, which is pretty good for a luxury market.

So perhaps the market is in its typical cooling down but on a year-by-year basis, there is more inventory, home prices are up and supplies are still flying off the shelf.

Colorado is a desirable state to live in and mortgage rates are still low so buyers, don’t wait too long!

If you or you know someone who is looking to sell or buy a home in Colorado, call me if you have any questions about the market!

Jim Garcia Realty
Castle Rock CO Real Estate and Homes for Sale
Douglas County Real Estate Market Trends