Just when you thought I’d stop writing and talking about the low inventory issue I have found more to write and talk about for your statistical enjoyment. There are a few other things to spice things up so don’t give up reading just yet. There are a handful of interesting items to take to the streets this month. And, as a reminder, I do all this research, put these charts together, write this summary and sent it to you in several different formats for one purpose only…to help you with your business. You are welcome to republish, plagiarize and otherwise re-post, reprint and redistribute this information. There are no actual copyright police waiting to bust you if you don’t cite your source of this information, but I’d suggest adding a notation somewhere just to stay on the safe side.
The two most noticeable items in March are the huge jump in monthly closing and the Year to Date (YTD) closings this year vs 2014. All areas are much higher over last year. Take a peek at the extraordinarily high Carbon Valley numbers. Included in that total for the month are about 25 new construction closings from Journey and St Aubyn. Even if those new construction sales weren’t included, that monthly total would still be 75% higher than last year.
I am still hearing the pleas for more inventory. The good news is there is good news on that front. First, we are no worse off than last year at this time – no better either, except out in Carbon Valley where their level has jumped a bunch. Also, Jamie Plaster at ERA Tradewind keeps me updated on Active only listings, they have been hovering at 75 or below for over a month now. That number has jumped to 90 in just the past few days. In fact, there were 33% more homes listed in Longmont in the first week of April than there were in the first week of March…and April had an Easter weekend to deal with. Of the 34 listings taken in the first week of March only 2 are still available. But of the 44 listings taken in April, 28 are still available.
March 2015 Longmont Area Stats
- YTD Solds UP in ALL areas!
- Longmont SFR Solds UP 34.2% vs 2014
- Carbon Valley SFR Solds UP 159.4% vs 2014!
- Active Listings still in demand
A couple other random items uncovered in my monthly trek through the numbers in my own little geekdom:
- 20 of 83 (24% market share) solds last month in the Carbon Valley were in Mountain Shadows. Granted most all were new construction, but I haven’t seen such a high percentage from one subdivision like that in a long time.
- In Longmont, the highest sales in any single subdivision was 13 (in Renaissance) for a 12% market share.
- Of the 106 sales in Longmont, 8 were over $1 million. The highest was $1.859M!
- By now I should learn to trust The Predictor. Last month I said it was a bit too high when it spit out a prediction of 110 solds in March. Well, at 106 I think it performed admirably. It says 120 for April, but those big numbers may soon be slightly restricted by both price increases and inventory decreases due to the renewed seasonal demand.
And now a treat for those of you who read all the way to the end…the line that connects the bars in this months chart is a two-period simple moving average. It basically tell us that our 1st quarter sales volume is well above where the “trend” says it should be based on previous years results. I thought it was a nice addition to the standard bars. Now go tell your friends and all the others who are still scratching their head and wondering what that line is. And if you feel that this stats report is valuable to you and your business, I’d love to hear from you.