I just love doing these stats. I like putting them together, dreaming up a chart that I hope you like and is relevant, and then writing this story every month. This is the first month of my 11th (?!?) year of doing this. That means this is the 121st story and email I’ve done since I began all this back in January of 2007. Thank you all so much for reading and giving me your feedback.
So, before we go too much further, let’s review the rules regarding the use of this material. There are none. It’s un-copyrighted material I publish with the permission of IRES, REColorado and LAR. You can use it and the words I type here, in whole or in part, to help inform your clients and show them you are a true professional with a firm grasp on the market. There is no copyright or source crediting police, but I’m told that the real estate commission may frown upon someone who would pass this off as their own and not quote a source. Personally, I don’t care if you do, because this is about you, not me. Legally, you might want to consider it. I’ve been told they can and will audit your marketing material. Any questions on use, just shoot me an email at firstname.lastname@example.org.
January 2017 Longmont Area Stats
Click here for .pdf file
On to the stats. The chart this month shows we are up about 100% over the lowest month of November 2008. Who thought we’d ever double our prices from that time of panic in the streets? Not me. Nonetheless, here we sit at our second average price of over $400,000 in the past four months and looking to make that a regular occurrence throughout the year. Granted the sales volume in January is quite low, but that is only in the Longmont single family section. The other areas had normal to strong January numbers compared to last year.
In fact, the average and median sales prices across the board were strong. The strongest examples being the median price for Longmont single family (+26.6%) and Boulder County Plains (+30.7%), which pale in comparison to the average increase of Longmont attached (+36.6%) dwellings.
We all know that inventory, or the lack thereof, is the culprit here. The feedback I received from my last stats piece about the potential inventory boost from new construction and what it will do to prices this year is without detractors (up to this point). This means I’ve either pulled the wool over your eyes or we have similar optimistic outlooks. It’s going to be hard to derail this train. What will be the most difficult part to adjust will be to dial back our current, outright ecstatic outlook to merely optimistic. You must shift your approach and hope your buyers and sellers follow your advice.
Last thing. It looks like we will be dealing with a loss of data share beginning with next month’s stats. I’m not sure how I’m going to deal with it. Fingers crossed for miracles.
Here is to another great year!