Facebook
Twitter
Pinterest
Copy Link
Here is a quick snapshot of our markets two weeks into July versus the same time last year…
Larimer & Weld Counties:
- Inventory up 61%
- Transaction count down 44%
- Prices up 17%
Metro Denver:
- Inventory up 62%
- Transaction count down 31%
- Prices up 12%
Blog •
July 15, 2022
Two Week Snapshot
A Closing Window
For home sellers who would like to move to a new home this year, there is a window of time that is closing as we head into the Fall months.
Most people know that the Spring and Summer are the most active months for real estate and that activity trails off into the Fall and Winter.
Here are the specific numbers behind this…
The number of homes sold along the Front Range in November tends to be between 15% and 29% lower than September.
That means the best window of time for current sellers to obtain a contract from a buyer and close by the end of the year will occur over the next 45 days.
For sellers who have homes on the market today, it is time to ensure that:
- The home is priced right versus the competition
- All of the marketing elements are in place
- It is easy for a buyer to make an offer on the home
Inventory vs. Sales
A stat we find interesting is the relationship between the inventory for sale versus what is actually selling.
Specifically what we look at are price ranges.
We are curious to know if the inventory that is for sale lines up with what the buyers want.
Here’s what we notice…
In Larimer County, 23% of all the single family homes for sale are priced under $400,000. No surprise, this is a popular price range among buyers and it represents 45% of all sales.
So, the ratio is 23% of the inventory versus 45% of the sales.
In Weld County, the difference is more pronounced.
Homes under $400,000 represent 44% of the inventory and 69% of the sales.
Because the percentage of sales is higher than the percentage of inventory, properties under $400,000 will sell much quicker and are more likely to have multiple offers.
To see the latest on the market, be sure to check out a copy of the new Gardner Report, our Chief Economist’s quarterly look at Front Range real estate.
