The new look stats are finally here! They aren’t any easier to create, but there is more consistency from month to month in the size and shape of the boxes and graphs. The best part is that giant head in the top right corner was shrunk to an acceptable size. Overall, the goal of giving me better control over the final product each month was achieved. Thank you for your patience.
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Now let’s look at stats. The February Stats Report is a near duplicate of January’s report. Every coverage areas had massive declines in Total Sold for the Month, Total Sold YTD, Average Days on Market and Active Listings. Meanwhile, all four areas had impressive to massive gains in both median sales price and average sales price…again.
I’m not sure how long this situation can sustain itself before something breaks loose for the better or worse. In Longmont there were 21.1% fewer single-family homes sold in January 2021 vs January 2020. That seemed like a big number until it was eclipsed in February with its slightly higher 21.8% decline. Strangely, this isn’t as massive of a concern as it may seem. If you look at this month’s graph, you will see the numbers from January and February of last year were the highest and second highest in the past 6 years. 2020 was setting up to be a super-spectacular, high volume year until the covid crud crept in.
In fact, the sales totals from the past 2 months were the 3rd and 4th highest in the last six years. This indicates they were perfectly average. Average is good when you are coming out of a year of lockdown isn’t it? I’d take average as an outcome because it’s way above most expectations of where we should be right now. So, to answer the question that is the title of the graph… not really. The fewer sales are compared to a very high 2020 and they are squarely in the average volume camp. But to add a little anxiety of relatively low sales volumes is that they follow the two months where we experienced absolute highest November and December sales volume in the past 6 years… so it just feels like the sky is falling. It’s not.
I don’t get too riled up about the short-term results we see monthly. Those results are important, but the mid-term and longer-term trends tell a better story of where the market is heading. Of course, there are tipping points when things turn the opposite direction. We are always a couple of months away from determining if a shift has happened. The trend in hand shop that in the past four months Longmont experienced the HIGHEST number of winter sales than any year in the past six. That total is 4.9% higher than the 2nd highest four month total, which was last year, pre-covid, November through February.
In other news, the average price of an attached home in Longmont almost eclipsed the $400,00 mark for the first time ever. The Boulder County Plains breached the $1 million mark for the FOURTH straight month (the same time period we are talking about above folks). And the Carbon Valley takes the market of the month for the 2nd time this year (out of 2) for the same reason as last month – lowest decline in monthly sales and lowest decline in active listings.
The Ides of March (refer to your Shakespeare here) is upon us. It’s when the grass turns green, the sky turns blue and spring is in the air. This is when the sellers start to come out of hibernation. Please don’t let this month pass without touching base with your sphere. Take advantage of the greatest amount of pent-up selling demand in years and go get those listings. There are plenty of buyers and they are all fighting over limited listings. Go get listings.