The Listing Solstice

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Wednesday marked the first official day of summer and the longest day of the year.

Coincidentally, the research shows us that listings are taking far longer to sell than one year ago.

Specifically, days on market has increased by the following amounts in our market versus exactly one year ago:

 

Larimer County: 210%

Weld County: 100%

Metro Denver: 122%

 

Even though days on market is up significantly over one year ago, properties are selling faster on average than what is considered ‘normal.’

Over the last 10 years, average days on market has been between 70 and 50 days. So, while properties are taking longer to sell versus the market of one year ago, they are still selling much faster than normal.

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High Active

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The average price of all active listings is likely much higher than you think.

For example, the average listing price of the nearly 5000 properties for sale in Metro Denver is nearly $1,000,000.

Here is the average price of all active listings along the Front Range:

Larimer County: $886,000

Weld County: $736,000

Metro Denver: $939,000

The post High Active appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

High Active

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The average price of all active listings is likely much higher than you think.

For example, the average listing price of the nearly 5000 properties for sale in Metro Denver is nearly $1,000,000.

Here is the average price of all active listings along the Front Range:

Larimer County: $886,000

Weld County: $736,000

Metro Denver: $939,000

The post High Active appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Price Peek

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Here is a peek at average residential prices along the Front Range through the first half of September and how they have changed versus one year ago:

  • Larimer County = $663,000 up 11.6%
  • Weld County = $511,000 up 4.5%
  • Boulder County = $1,165,000 up 17%
  • Metro Denver = $668,000 up 9%

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Under 100

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For the first time in a long time, the sale to list price ratio is below 100%.

This statistic measures the final sales price versus the listing price.

During the super-active market of the last 24 months, this number averaged over 100%.

This was a result of multiple offers and bidding wars which caused buyers to offer more than list price.

Now, the sale to list price ratio has dropped to below 100% as a result of a more balanced market.

These are the specific numbers in each of our markets:

Larimer County = 98%

Weld County = 99%

Metro Denver = 97%

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Asking Price Drop

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Data just released by Altos Research shows that 35% of all homes on the market have had to reduce their asking price.

This is the highest this number has been since December of 2019.

This is also an indicator of sellers adjusting to the reality of the new market where overly aggressive pricing is not effective.

Extensive research shows the importance of pricing a home correctly on the first day so that the home sells in an appropriate time frame.

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