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    8z Market Update: 5/18 – 5/24

     

    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 18th to Sunday, May 24th.

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

    New Listings: 2772 – Down 2% to prior week                          Properties Under Contract: 3446 – Up 17% to prior week

    Properties Withdrawn: 268 – Down 2% from prior week       Properties Sold: 1383 – Up 12% from prior week  

    For the 3rd week in a row, the number of properties going under-contract has surpassed the number of new listings in the week. This is a key indicator that there is more demand than supply.

    Additionally, for the first time since the COVID19 disruption the number of showings in Colorado is back on pace and actually greater than at this point in time last year.

     

    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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