I have a lot of smaller topics this month so this should be fun. Let’s get this rolling by getting a few “givens” out of the way. Inventory: up; days on market: up; prices: up slightly; year-to-date sold: up; and monthly sold: slightly down. No surprises there. I probably could have written that without actually pulling the numbers. It’s perfectly predictable for November. Longmont attached is following the same program, but the BoCo Plains and the Carbon Valley don’t seem to want to play along.
Days on market (DOM) seems to be the most talked about topic of all right now. Of the closed single family homes in Longmont there were 4 that were under 7 DOM, but 10 that sat for over 100 days. The attached DOM number would drop from 58 (and a rise of 18.4%) TO 47 (a drop of 4.1%) if the two Dream Finders properties were removed from the list, which were 155 and 232 DOM… so, nothing to see there.
The BoCo Plains area feels a bit less pricey despite that area closing 7 properties of over $1M. It’s the Carbon Valley that seems quite robust at this time. You should see the list of offices that closed properties out there last month. There must be about 50 different offices that closed the 59 homes in the Carbon Valley and they are from all up and down the Front Range.
I changed up the graph in a fit of nostalgia. I also included the stats from November of 2008 for you to see a few things. First the graph. I titled it the worst November EVER because it was horrible, but my data only goes back to 2007. It was the first really bad month that led to several really bad years afterward and I remember the sinking feeling I had when I published those stats. Many of you weren’t even in the business back then, but it was scary to say the least. You can see other things that had to be dealt with by clicking on the November 2008 Longmont Sales Statistics. Look at those prices! …And they declined from there, but wouldn’t you like to go back and buy a few of those now? Also, look at the average DOM for November 2007 – 110 days!!! Look at the DOM for attached in ’07 – 203 days – that’s nearly 7 months!
Ok, let’s wrap this up with some other small items.
If you haven’t seen it yet, I made a video about our office. Pay close attention to the drop box portion. With everyone’s busy schedules, it’s a perfect place to drop earnest money after hours. And since we are in a former bank, it’s super secure. Just remember to call and follow up after it’s dropped off. We want to get the receipt out as soon as possible.
Damian Wise advises- during the winter months, get a roof inspection before it snows so it doesn’t hold up your closing. Good advice. Take advantage of the good weather and clear roofs to keep your deals on schedule.
If you think Zillow and Redfin aren’t coming for your clients, your jobs and your commissions, you are wrong, and it isn’t just the overhyped iBuyer programs. Check out how Redfin is now allowing buyers to buy without a Realtor.
And, since you don’t have enough solicitors ringing your doorbell, spam emails, junk mail and phone calls from people trying to scam you, I’m told one local title company has hired telemarketers. Listen for your call soon. Fun.
I got to meet one of my stats heroes a couple of weeks ago. Steve Murray publishes Real Trends, which I know many of you receive. It was very exciting for me since he studies real estate trends, stats and technology through out the nation. We had a lot to talk about.
My counterpart Dori VanLone in Boulder is hosting a CREC Update class on Thursday, December 19th in Gunbarrel. Click here for INFO and click here to REGISTER. If you can’t make this one there are several more scheduled at LAR for both this year and next. Click here for their calendar – LAR Class Schedule
I have some large desk calendars left so give me a shout, text or email if you want some. I’ll even deliver.
Next report comes out next year. Y’all have a Merry Christmas and Happy New Year. I can’t wait to publish the year-over-year stats in January.