Real estate is local. You’ve heard me say it before and you’ll hear me say it again. Prices, affordability, and days on market can vary by city and even neighborhood. I typically look at real estate very close up, but wanted to take some time to post interesting statewide statistics. Our state of Colorado, the Centennial State, is doing well.
We’re seeing the same story across Colorado as we are in Boulder County. New listings are down and median sales price and number of sales are up. This is mostly great news, though a little more inventory would be OK :). New listings would help out with some of the buyer demand that currently exists for desirable inventory.
Take a look at this activity snapshot as reported from the Colorado Association of Realtors (CAR). This data is 3rd Quarter data from 2012 compared with data over the same time period in 2011. It includes all major Realtor boards from the entire state.
The Median Sales Price increased 12.0% to $224,000. Days on Market was down 23.1% to 83 days. Supply of Inventory was at 5.8 months, indicating a stable market.
Historically low interest rates throughout all of 2012 are spurring some of this activity. In a few months we’ll have some great year end data.
If you are a data junkie like me, check out more statistics from CAR.