January Home Sales Reach 16-year High!
The only remaining superlative in the dictionary that I’ve not used to describe our ongoing improvement in the Longmont home sales market is meteoric. And for those of you who don’t believe this is actually a word, go here: Dictionary. Meteoric in this usage is in regard to the single family residential resales in the area (see graph). The all-time records I have in my files only go back 10 years and January’s numbers blow them all away. How many times have I written something similar to that in the past 18 months?
Here is some perspective on just how good January’s sales were. The records I have show a nice little range of sales for January of between 43 and 67. The 85 in 2013 blew away the highest by nearly 27%! Additionally, every singe January before last had a lower sales total than its previous December. In 2012 we actually matched our December ’11 sales total of 53 for a zero difference…that was our BEST….until this year. Further research of the local MLS showed that this past January was, in fact, the highest sales January as far back as their records go…which is 1998. So there you have it – a 16-year high! My disclaimer is that I didn’t track the data then, so calling it an all-time record is fine with me. Typically January is a relatively slow month due to the prevailing holiday hangover exasperated by the bitter cold winter weather.
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Where are we going from here? Interest rates aren’t changing any time soon, so the sky is the limit. Oh wait, we have that nagging inventory issue. Here are a few ideas to help you meet some new people who might be ready to sell their house: stand on the corner with a “Will work for Commission” sign; or buy a billboard that says, “Move into your dream home in under 100 days”. What might be cheaper and easier is to get back into your database and find out who those people know that want to sell their house. Learn to love the Cloud CMA program in IRES and start making lots of listing presentations.
By the way, in all this excitement I forgot to mention the ridiculously low inventory and similarly ridiculously high median and average sales prices in this report. Those are gains I can live with.