8z Market Update: 5/11 – 5/17

    Here is the 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, May 11th to Sunday, May 17th.

    Data compiled from each of the three major MLS providers on the Front Range

    New Listings: 2810 – Almost equal to prior week            Properties Under Contract: 2932 – Almost equal to prior week

    Properties Withdrawn: 274 – Up 10% from prior week    Properties Sold: 1232 – Down 8% from prior week

    A key metric to watch is the number of homes under contract in a given week compared to the number of new listings in a given week.  For the past 2 weeks, more homes are going under contract than new listings entering the market.  This is a key indicator that there is more demand than supply.

    If you’re thinking of selling your home, the market is in high demand for more available properties.  We have safety measures in place and successful marketing strategies and tools to help you.

    Again, 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.

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