As far as Februarys go, they are usually unremarkable months, unless it’s your birthday or you still buy Valentine’s Day cards. There just isn’t much to celebrate. February 2015 was a bit different; where records were broken…along with my son’s collarbone, but that’s hockey and different subject altogether. Let’s start with the record and then break down the month in stats.
The record we set is the average sales price in a month. At $338,727, it’s the highest monthly sales price ever recorded in Longmont. EVER…in ANY month. We’ve spoken before about the limiting factors of relying on averages…mainly that they can be influenced by outliers and non-representative. This is not the case in February. The outliers to the high side showed there were 3 sales in the $500k’s, 3 in the $600ks’s and 2 in the $700k’s, with the highest $756k.
Looking at a high average sales price without a bunch of super high priced sales, I would naturally guess there were only a few lower priced homes sold. I’d be wrong. There were 21 homes closed last month below $250k. That’s 27% of the market, showing this was a fairly even distribution of price points and that yes, values are trending upward.
February 2015 Longmont Area Stats
- Highest Avg Sales Price EVER in Longmont!
- Longmont SFR Solds UP 25.7% YTD
- BoCo Plains Median Sales price UP 34.7%
- Carbon Valley Avg Sold Price UP 11.9%
February 2015 also had the highest number of sold properties in February since 2006 when we sold 80. This sales total combines with our higher than normal January and bodes well for the remainder of the year. We see an increase in the number of active listings in every area of this report. As far as Longmont goes, it is misleading. It’s actually showing an increasing total of unclosed (is that a word?) homes – or ones currently under contract. The number of active and not under contract homes has actually dropped from 85 to 75. That fact alone leads me to believe that we will have another big month in March and we’ll exceed The Predictor’s estimate of 110 solds. If this happens, in March we will exceed the sales total of ANY month during the entire year of 2009…my we’ve come a long way.
I like the way all areas are trending in the right direction to start the year. The trend should remain strong due to continued low interest rates. Overall, we can expect another strong year and for all you Realtors out there, make sure you take a class to get some knowledge of the impending CFPB changes.