Since I have been publishing these statistics for nearly eight years now, I’m frequently asked questions about the real estate market. Although I pay attention to national and regional trends and news, I only research the local areas in this report. And, because I live and work in Longmont I tend to focus on the leading indicator of our local market…single family home sales. As this market goes, so does the local population of Realtors, home buyers and home sellers.
One of the items we haven’t visited in a while is “How are we doing”? To me, this question presupposes the questioner is talking about Longmont single family home sales. And the answer is simple. Great! Despite the overall lack of inventory, which has been going on for years now, at the end of July 2015 we have the highest year-to-date sales total in since I’ve been publishing this report starting in 2008. I’d have to dig up some other info to go back further, but I think we can all agree that this market is very good. Not only is the sales volume up, prices are at their highest ever…on average.
July 2015 Longmont Area Stats
- Longmont Median Price +23.8% YoY
- Carbon Valley +43.9% YTD Solds
- BoCo Plains $708,052 Avg Sales Price
- DOM in Longmont 43 SFR & 32 ATD
It pains me to see recent news reports of slowing markets and slowing home sales. Slowing? Compared to what? Last month? Look at the graph. A couple fewer sales maybe, but fewer days on market, fewer listings, and higher prices in EVERY area do not indicate slower anything. The seasonal nature of real estate in Colorado says slower is coming, but that is yet to play out. Kids go back to school; nobody wants to move in the winter; and the market softens just a bit come August and September, but that is natural. And if the order volume Land Title experienced in July (for August closing) the seasonal drop off will definitely not come until September… or after