As the upward trend continues, many people in and outside of the industry are simply astounded by what we are experiencing here along the Front Range. And even though real estate is local, this thing looks as if it’s starting to catch on around the country just a little bit. But until it reaches the beaches, it will be just another anecdotal story tucked near the back page of the big city newspapers. That is just fine with me, we don’t need any more flatlanders out here who have no idea how to drive home on I-70 in the summer!?!?…let alone in the winter.
While the rest of the country is awaiting recovery, here are some highlights from this month’s report:
- 116 Closed sales in June 2012 is the highest monthly sales total for June since 2007!
- Average Days on Market is 72! Shockingly, it’s higher than last month’s 69 DOM.
- ALL areas have YTD increases of between 17.3%-36.6%!
- Longmont Attached Dwellings = 51 DOM!!!
- 59.6% monthly sales increase in Area 5 with and Avg Sales price of $555,631!
The Predictor for June said we should have had 104 closed sales, so we even beat the tar out of that indicator with 116. I am running out of amazing things that this market is doing. My enthusiasm for this market is now 1 year old and still strong. Before the end of next week I plan to have some 1st half of the year comparisons to last year (and maybe some previous ones as well). Also, by the end of next week we should have the Boulder County report out along with the Denver Metro Stats, so keep an eye out for them at www.longmonttitle.com if you aren’t subscribed to those.
In the meantime, please realize that with the surge in purchase transactions, in addition to the continued strength in the refinance market, your closers and their processors are working their very hardest to keep up with the volume. They need to prioritize their tasks appropriately in order to maintain their high level of accuracy. So, during this time there may be some unusual delays in response to some communications. Your patience and understanding in this matter are much appreciated.
Please print, forward, distribute and share this report to anyone you wish.
The Predictor says 108 sales for July.