The overall message to take from February 2023 was that our peak selling season began early. Especially for those in the luxury segment where we saw a 66% increase in new listings hitting the market, the largest increase in inventory across all segments of the market. Nearly 40% of all sales activity occurred in the premier market, properties sold between $500k and and $750k, the market where we also saw the highest list to sales price ratios. Sold properties closed were down 18% from a year ago. Median closed prices for single-family homes were down 3% from a year ago, while the average days on market increased 27 days from 4 days a year ago and dropped by 3 days from January’s 30 days. The takeaway for sellers is that inventory is still low, keeping upward pressure on prices, however, that is kept in check with mortgage interest rates hovering around 6.5% to 6.75%. The circumstances are leading to buyers exercising their power to negotiate. The market is still a way from being a balanced market, but it is slowly moving in that direction. Check out the video clip from the REColorado MLS and be sure to follow us on Instagram (toddregroup), LinkedIn (Dave Todd), Facebook (ToddREGroup) and Twitter (toddregroup).
11 County Metro Wide Statistics for February 2023
Come join me this Saturday from Noon to 5:00 PM for a casual preview of this stunning mountain contemporary in The Shores in Breckenridge. I
Check out this stunning mountain home in The Shores at the Highlands in Breckenridge this fall and enjoy your new mountain home in time for
Check out this new amazing listing in Breckenridge. It is located in one of Breckenridge’s newest developments. Built in 2018 on “the shores” of the