As promised, here is a weekly snapshot of key market data across the Front Range to give you a better sense of what’s happening in our market, without prognostication or conjecture. Just the facts.
The following are critical market indicators for the Week of Monday, April 6th to Sunday, April 12th.
Data compiled from each of the three major MLS providers on the Front Range
1599 – Down 38% from prior week
Properties Under Contract:
1471 – Down 26% from prior week
503 – Down 6% from prior week
1329 – Down 40% from prior week
As anticipated, this week marked some decreases in listings, under-contracts, and sales. These next two weeks will be 30 days from the initial stay at home restrictions going into effect. Real estate data and trends typically lag about 30-60 days behind events that impact consumers.
Although consumers are still buying and selling real estate, the stay at home restrictions are now showing the effect in real estate data in our local market. Again, although the market hasn’t stopped, we don’t anticipate volume of listings or sales to increase until stay at home restrictions are lifted.
As evident by continued sales, there are still buying and selling opportunities for consumers in our market that require shifting approaches and strategies. In that regard, our company is committed to navigating this changing market for your best interests.
We look forward to updating you again next week on the state of the market, or even sooner if anything changes that require a more timely update.